game ... set ... and match ...

"This is from James McShirley explaining in a nutshell the bombing of gold/silver today:

4 minutes/12,535 short contracts = -$21.30

If you were a thief and knew their was no law enforcement, and even better knew there would be no punishment if they ever did show up you'd be knocking off the local quick-mart on a scheduled basis.

That's exactly what we have going on with the Comex and gold trading.

The brazenness keeps reaching new heights, with virtually NO attempt to conceal it. Can it get any more obvious?

2:55 AM: 4,330 contracts dumped, gold smashed $10.70
8:31 AM: 2,842 contracts dumped, gold smashed $ 5.60
9:00 AM: 2,595 contracts dumped, gold smashed $ 2.00
9:01 AM: 2,768 contracts dumped, gold smashed $ 3.00

4 classic cartel minutes, 12,535 contracts, gold smashed $21.30. No rhyme or reason other than the power of MOPE. (My comment - 12,535 contract equals 1,253,500 ounces of gold!)

In the case of the 2:55 dump the previous minute only saw a paltry 189 contracts trade. The minute prior to 8:31 only featured 422 contracts, which shows this was blatant interventions with no regard for optimum price.

The PM fix has now also reverted to its old ways. Since September 1 the cumulative PM fix is back in the negative to the tune of -$17.00. It would be minus $35.75 had gold not went up 1% on the lousy jobs report last Friday.

It looks like the cartel has come out with algos blazing in the month of September.

If the GLD and Comex physical gold isn't being used to fuel this suppression I have no idea where else they're getting it.

While TF is still noting the astonishingly long position of JPM and Co. we see derivative evidence of the exact opposite. Who knows what is going on with no regulatory oversight."

This was at http://harveyorgan.blogspot.ca/

My comments:

Now what does a soaring gold price represent?

It represent any or all of the following:

1. The financial system is unsound and could collapse.

2. We have stagflation or inflation.

3. The housing market is in the process of collapsing

4. Unemployment is going through the roof.

5. Get the idea ... A soaring gold price represents everything that Governments don't want folks to believe is happening or could happen. So rather than fix the problems, the messenger - the gold price - is killed.

Let's face it folks, no matter how much it makes logical sense to have large medium term investments in gold and gold equities, with financial repression now the norm, Government will not allow folks to save themselves in those investments but punish investors, as we have seen over the last two years.

I have often thought about the situation where unlimited amounts of paper representing billions of dollars worth of gold, but backed by no gold, can be shorted on a paper exchange like Comex in a matter of minutes to smash the gold price, while the Regulators turn a blind eye, imo on the order of Government.

No one I have corresponded with about this issue over the years has provided me with what I believe is a satisfactory response.

Meanwhile, gold miners around the world, including Australian based gold miners just accept this. Never mind their share prices have collapsed 60%, 70%, 80% and 90%.

They basically accept the smashing of the gold price by the use of paper, despite soaring physical demand - in silence. They basically accept their business model being severely damaged and in danger of being destroyed - in silence.

Why aren't our Australian based gold miners screaming to our Government? Why aren't our Australian based gold miners screaming to the media?

Why aren't our Australian gold miners forming their own gold production cartel for Australian produced gold - where they refuse to accept a price for their gold set by sales of billions of dollars of paper backed by no gold. Why aren't our Australian gold miners instead marketing their combined gold production each month direct to buyers such as China and Russia?

Anyhow folks, as the gold price is accepted as a price created by paper sales and with gold miners also prepared to accept this price, it makes no sense imo to any longer have large investments in gold and gold equities.

Far better to invest where Government wants growth, such as in real estate. You only have to look at how real estate is up hundreds and hundreds and hundreds of per cent since 1980, compared to gold's paltry 50% - and massive decline in real terms, to understand imo that for medium and long term investments you need to invest where Governments want growth, not in an anti growth and anti Government investment such as gold and gold equities.

Unfortunately at present it's game ... set ... and match over ... for gold imo ..