gs told to take down gold last week

Apologies to those who have subscriptions. Taken from today's MIDAS


Early this morning I received a phone call from someone in the gold industry whom I have met previously. He has a friend at the Chicago Mercantile Exchange, which is affiliated with the Comex. This "friend" has been at the Merc for 35 years and is a pro's pro, having been around the trading block a few times.

He told my source on Friday that the US Government told Goldman Sachs on Thursday afternoon to take the price of gold down. Note the Thursday evening MIDAS comments after gold closed at $960.70 during the Comex trading hours…

"All of that AND THE GOLD CARTEL HAS THE AUDACITY TO TAKE GOLD DOWN $6 ON NOTHING in the Access Market. If you want to appreciate just how important GOLD is, please take in the above comments. Gold SHOULD HAVE upticked $4 in the Access Market, not downticked. Our markets are a total farce and worsening on a weekly basis. There will be hell to pay down on the road for the ruination of the free market process in the US."

The takedown in the Access Market was a prelude for Friday when Goldman orchestrated a further hit to $939.30, or down $21.40 from the Thursday Comex close, with more selling to come on Monday.

Lately I have made mention that while JP Morgan Chase’s manipulating tracks can be found everywhere, I have not been able to pinpoint any Goldman Sachs activity on that score the last six months or so. Well, they’re BAAACK … or at least have been identified as never having left. It is very possible they are clearing through a third party, that their positions are reported to the public, because they are now classified as a US bank.

There is little doubt in my mind the US Government, led by Summers and Geithner, facilitated Goldman’s shorting by feeding physical gold into the market to meet the current demand. As this tag team effort has been going on for more than a decade, they know what to do, and when … stealing your money in the process. And to think people are in awe of the amount of money Goldman Sachs makes in their trading operations. Give me a break! How much money do you think you could make with the US Government backing your trade? This scandal just goes on and on and on. Obama and change? Now that’s a joke.

That’s all the information I have on the GS trade. To what extent they have been told to take gold lower is an unknown and may be predicated on what sort of demand shows up to take them on. Perhaps the trade was ordered to coincide with the fall in the yield of the 10 yr Treasury note, needed to bolster a faltering mortgage market, and that will be it. OR, this manipulation could be much more sinister in depth.