WHO SAID THE HYDRA W OULD TAKE IT LYING DOWN

http://feketeresearch.com/upload/Who-said-the-hydra-would-take-it-lying-down-Prof-A-E-Fekete.pdf

"In fact, however, a lower gold price is making the problem more intractable, not less. The Fed is diving from the frying pan into the fire. This is the point missed by almost all observers and market analysts. They ignore the underlying flight into physical gold that continues unabated, in spite of (or, better still, because of) the panic in the paper gold market. The Fed’s intervention in bankrolling short interest is going to back-fire, for the following simple reason. The Fed’s strategy is inherently contradictory. A lower price for paper gold makes it easier, not harder, to demand delivery on maturing futures contracts.

The more paper gold Bernanke sells, the lower the cost of acquiring physical gold in exchange for paper gold becomes."