Whether the market is being manipulated or not is irrelevant at this point. People are being pushed to the point of having to sell at a loss... and generating argument that the physical market is not really down doesn't mean much to them. I hear so many of these conspiracy theories that it make me wonder if they are tyring to convince others or themselves.
I do believe there is some manipulation, but this is through solidarity of the large institutions, I think the US Fed has little involvement; there is too many whistle blowers out there for Ben to take the risk.
My opinion on the recent miraculous rise of the USD is relatively simple...the US public and institutions are in financial strife and need cash, as a consequence, they are pulling out of their foreign investments (particularly commodity based countries such as Australia). After the sale they need to repatriate this money back to the US, this creates a demand for USD and the opposite for the currency they are converting it from. As such, USD goes up and AUD goes down.
If I’m right, this trend should change as they finish selling out the last of their foreign stocks.
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