Published on Gold Anti-Trust Action Committee (http://www.gata.org)

James McShirley: Kitco inadvertently acknowledges that the gold price is suppressed

By cpowell
Created 2015-08-05 03:22

By James McShirley
via Bill Murphy's "Midas" commentary at www.LeMetropoleCafe.com [1]
Tuesday, August 4, 2015

How do you mention manipulation without actually saying it? Well, if you work for Kitco and your name is either Neils Christensen or Peter Hug you do it this way:

http://www.kitco.com/news/2015-08-03/U-S-Mint-Reports-469-YoY-Increase-I... [2]

Christensen: "The one bright spot for the precious metals market appears to be the physical market as the U.S. Mint reported a 469-percent increase in July coin sales compared to last year."

Then Christensen hands it off to Hug: "It is not just the mint that has seen unprecedented demand for bullion as prices significantly dropped last month. In his morning commentary, Peter Hug, global trading director for Kitco.com, said that many bullion dealers have been struggling to obtain a supply of silver coins and small gold bars. However, he added that he does not see this reemergence of physical bullion to help support prices as gold trades under $1,100 an ounce and silver under $15 an ounce."

... Dispatch continues below ...


We Are Amid the Biggest Financial Bubble in History;
When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth

With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.

Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.

Crucial guides to storage in Singapore and Switzerland can be read here:

http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore [3]

http://info.goldcore.com/essential-guide-to-storing-gold-in-switzerland [4]

GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.

Email the GoldCore team at info@goldcore.com [5] or call our trading desk:

UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.

Visit us at: http://www.goldcore.com [6]

Huh? So the one bright spot is the actual stuff flying off the shelves?

If the physical market is on fire as Neil so coyly reports, then why are there any dull spots? And Mr. Hug declares that not even phenomenal physical demand can overcome the derivative-induced malaise!

Neils and Peter both just inadvertently admitted manipulation without ever saying the "M" word. When the only "bright spot" happens to be rip-roaring demand for the actual product, you know you have an out-of-control cartel using derivatives to suppress market prices.

If all the collective commodity producers on the planet could ever understand how gold is the linchpin for the suppression of their collective products, GATA would have a million members. In the meantime we have $3 corn, $9 beans, $2 copper, and a gold suppression scheme on steroids. The financial tail continues to wag the working dog.

Gold's days of being pinned to the mat are getting numbered. The clock is ticking. The exchange-traded fund GLD is methodically raided, the U.S. Mint is drained, and the Comex shelves are all but bare. All that’s left is the potential for a huge rally.

Maybe now Kitco could be so kind as to lease the gold in its client pool accounts to the cartel? That ought to buy another week or two of suppression. It's the least they could do as dutiful apologists for their bullion bank buddies.

* * *

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2015

http://noic2015.eventbrite.com/?aff=gata [7]

The Silver Summit and Resource Expo 2015
Hyatt Regency Hotel, San Francisco
Monday-Tuesday, November 23-24, 2015

http://cambridgehouse.com/event/50/the-silver-summit-and-resource-expo-2... [8]

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell [9]

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html [10]

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts [11]

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal [12]

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org [13]

To contribute to GATA, please visit:

http://www.gata.org/node/16 [14]

Source URL: