Manipulation

U.S. prosecutors on Monday announced that they had settled charges against three European banking giants, HSBC, UBS and Deutsche Bank, for manipulating the markets for precious metals, including gold and silver, and filed charges against eight people, including some of their former traders.

Gold and silver had a sharp run-up in the last two weeks of 2017. However, the abrupt move in gold was accompanied by a rapid rise in the gold futures open interest on the COMEX. The “commercial” – aka “the banks” – net short position in COMEX gold futures has increased by 100,000 contracts (from 120 net short to 220k net short) in just four weeks through the most recent COT report. That’s a net paper gold short of 22 million ozs, or 623 tonnes of paper sold short.

Welcome to 2018 – a year that will be the culmination of at least 105 years of mismanagement of the Western financial system by governments, central bankers and the elite.

Many investors in gold say the price of the precious metal is artificially curbed because of the paper gold trading on Western exchanges.

Is this Rothschilds led prediction from 30 years ago for a new world currency about to rock global markets in 2018?

Rickards expects gold to go to $10,000 an ounce as some central banks may have to resort to the gold standard to restore confidence in the markets.

The physical fundamentals are stronger than ever for gold. Russia and China continue to be huge buyers. China bans export of its 450 tons per year of physical production.

The US working population of 154 million have the responsibility for the US total debt which currently is $70 trillion.

China and Russia know that it is only a matter of time before the dollar will lose its status as reserve currency. They also know that before this happens, the dollar will start crumbling and eventually disappear into a black hole resulting in an implosion of all the dollar assets and debts.

The price of oil, the value of gold, the value of the Yuan and the value of the Dollar will all be affected as the economic relationship between vast amounts of oil and scarce amounts of gold is determined.