JP Morgan Employees Confess Bank Manipulates Markets, GLD ETF Refuses to Give Physical Gold, Documents From the Fed, A World Based on Debt, Poland Confiscates Private Pension Funds

Published by Goldbroker ™ | Sep 13, 2013 | Press Review

JP Morgan Employees Confess Bank Manipulates Gold & Silver Markets
Published Sep 14, 2013 on Goldbroker

In a stunning development, two JP Morgan whistleblowers have confessed that the bank manipulates the gold and silver markets. This is a truly catastrophic event for JP Morgan, which up to now has denied manipulating these markets.

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Custodians of the ETF GLD Have Refused to Give People Physical Gold
Published Sep 13, 2013 on Goldbroker

One of the most highly respected fund managers in Singapore said that custodians of the ETF GLD have refused to give people physical gold in exchange for the shares. Grant Williams, who is portfolio manager of the Vulpes Precious Metals Fund, also warned that the massive and escalating paper claims on physical gold at the COMEX warehouse are going to create an explosion in the price of gold.

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A World Based on Debt, Europe a Hopeless Case, US Debt Will Sink the World
Published Sep 11, 2013 on Goldbroker

We are now back to the “green shoots” era of false hope and total misunderstanding of the real state of the world economy. There are minor tidbits of good news that combined with manipulated and seasonally adjusted economic figures are giving politicians worldwide reason for spreading their optimistic gospel of recovery that has nothing to do with reality.

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JPMorgan Closes Precious Metals Sell Recommendation
Published Sep 11, 2013 on Goldbroker

One of the most underreported sentiment shifts of the past week was JPM's announcement late on Friday, that the firm quietly went long commodities - specifically base metals and copper (in addition to energy) - and the firm also closed it "sell" (i.e., underweight) in precious metals. This is not surprising: we had noted the ongoing purchasing of gold by JPM over the past two month (in part to restore its depleted gold vault inventory) when the yellow metal not only stabilized but promptly entered a bull market, returning 20% in a short period of time.

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Documents From the Fed State Clearly That It's Necessary to Manage the Price of Gold
Published Sep 13, 2013 on Goldbroker

All markets are managed. The Fed is engaged in essentially open market operations on a daily basis. In the US you've got the FOMC and the president's working group on markets etc. All of these organizations their purpose is to engage in open market operations, whether these be bonds, equities, currencies or gold. It would be naive to think they manipulate all markets but not gold. In fact, if you look at documents from the Fed they state very clearly that it is necessary to manage the price of gold in order to maintain control of the global currency system.

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Vicious Gold Slamdown Breaks Gold Market For 20 Seconds
Published Sep 12, 2013 on Zerohedge

To summarize: a humble block of 2000 gold futs (GC) taking out the bid stack, and slamming the price of gold, managed to halt the gold market: one of the largest "asset" markets in the world in terms of total notional, for 20 seconds.

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The Best And Worst Performing Assets Since Lehman Are...
Published Sep 13, 2013 on Zerohedge

No surprises here: Silver and Gold are the best, Banks and Greece - worst.

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This Is Why The Price Of Gold & Silver Was Crushed
Published Sep 12, 2013 on Kingworldnews

Kaye: "The capping strategy is in place. There is no evidence as of yet that the Fed and the BIS, who I am certain are behind all of this, have the capability, even if they wanted to, to push things much lower because they don't have the physical gold that would be necessary to be delivered. But they do have the ability in markets, that still aren’t quite as liquid as they are normally, to push prices around a bit and create some downside volatility..."

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What If the Money Printing Presses Were Poised to Run Faster?
Published Sep 12, 2013 on Goldbroker

The general feeling, or " sentiment ", is leaning toward a tapering of money printing by the large Western central banks, due in part to the official statements of the Fed indicating it might taper its quantitative easing (QE). For now, it’s just an hypothesis invoked by its Chairman, Ben Bernanke, but it was enough to rattle the markets, notably with the outflow of funds from emerging countries, which is putting much downward pressure on their currencies.

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Poland Confiscates Half Of Private Pension Funds To "Cut" Sovereign Debt Load
Published Sep 6, 2013 on Zerohedge

While the world was glued to the developments in the Mediterranean in the past week, Poland took a page straight out of Rahm Emanuel's playbook and in order to not let a crisis go to waste, announced quietly that it would transfer to the state - i.e., confiscate - the bulk of assets owned by the country's private pension funds (many of them owned by such foreign firms as PIMCO parent Allianz, AXA, Generali, ING and Aviva), without offering any compensation.

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China is taking a leap forward to control world currency
Published Sep 11, 2013 on Rt

It is obvious that China is up to something hoarding gold like a dragon. In fact, it is taking a leap forward to control the world currency and to replace it with the yuan, Dr. Thorsten Pattberg, China expert at the Peking University, told RT.

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Shanghai Exchange Silver Drain Continues While JP Morgan Makes Large Transfer
Published Sep 7, 2013 on Srsroccoreport

Since my last update on Aug 11th, silver stocks at the Shanghai Exchange continue to decline. Furthermore, JP Morgan made a huge transfer of silver on Thursday, Sept 5th from its Registered to its Eligible inventories. Ever since the April 12th take-down of the precious metals, the silver stocks at the Shanghai Exchange have fallen considerably.

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