Precious metals manipulation

In surprising actions and admissions of guilt, the CFTC gave an update on their ongoing investigation of silver manipulation at the COMEX, and the Fed admitted to gold swaps with foreign central banks. These gold bug conspiracy theorists aren't so nutty after all.

http://news.silverseek.com/SilverSeek/1253632847.php

http://www.gata.org/node/7819


Folks, the cat is out of the bag that the Federal Reserve Bank, US Treasury Department, commercial bullion banks (foreign and domestic), and the recent Administrations have all been culprits in a long-running price suppression scheme for gold and silver. The cracks are being slowly exposed.

Profligate spending has its unintended but predictable consequences--the debasing of a currency, in this case, the USDollar. This, in turn, saps confidence in the world's reserve currency. Rising prices in gold and silver are open indicators of that phenomenon, so it stands to reason central bankers are motivated to suppress precious metals prices.

Sovereign funds are no longer willing to be held hostage to the US Treasury's printing presses. Neither are hedges funds or individuals looking to preserve their wealth. And neither should you.