Gold – the final bubble, page-846

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timber1956

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15/06/15

17:26

Post #: 15470092
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Originally posted by All4One ↑

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Im no fan of the controlling institutions and I hope someone takes them down; however it is very unlikely to happen if they are backed by the US Fed.
Simply put the COMEX POG is set for the benefit of the London/NY Gold pools aka the LBMA.
These are pretty much the same players that set the POG in the twice daily London Gold Fix, the same London Gold Fix that was recently found to be corruptly fixed and the banks responsible fined.
Probably cost them a weeks profit if that.
To put it in a nutshell the POG will be regulated from NY/London until it serves their purpose to either let the POG go or to change the POG. No amount of buying has changed that yet, it is too easy to use paper contracts to keep the POG to their liking.
That is the story and the only story in Gold.

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"That is the story and the only story in Gold."

As stories go, it is slightly less plausible than "The Lion, the Witch and Wardrobe".

COMEX is a trading platform that matches buy and sell orders. It doesn't own any gold.

CME is a clearing house that settles payments on COMEX contracts and arranges physical delivery on outstanding contracts between buyers and sellers. It doesn't own any gold.

If COMEX-CME has a preference for the price of gold going up or down, it would be for the price to go up. This is because their fees are a proportion of settlement amounts and those settlement amounts increase with the price.

Read the minutes of the FOMC. Read the changes in the Fed balance sheet. The Fed don't care about the gold market at all.

Last edited by timber1956: 15/06/15
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Gold – the final bubble, page-846

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