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What is presented below is an analysis of September 2011 “fails to deliver” equities which are understood to represent physical gold and silver bullion in the market place. ...
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Conclusions:
The data above outlines an algorithmic, naked-shorting, shell-game which has been perpetrated on our Capital Markets in a co-ordinated fashion with the complicity of the CFTC, the U.S. Treasury, The Federal Reserve and quite possibly the S.E.C. as well. The object of this criminal exercise is/was to create a plausible path for bullion banks to reduce their systemic, serial gold and silver short positions while hopefully maintaining some illusion of “free markets”.
The large, main-line precious metals ETFs [the ones sponsored by the likes of J.P. Morgan, Barclays, HSBC et al] were created for a reason folks. They were developed to serve as “tools” to enable ongoing manipulation of the traditional inflation sanctuary metals – suppressing their prices in the face of MASSIVE, GLOBAL, FIAT CURRENCY DEBASEMENT.
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More (full analysis): http://news.goldseek.com/GoldSeek/1319222906.php
The larger point Mr. Kirby doesn't address is that the bullion banks are having to reduce their systemic, serial gold and silver short positions because invetsment demand in the physical market is forcing their hand. $.02