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Ronan Manly: Gold and silver price manipulation is the greatest trick ever pulled

Section: Daily Dispatches

10:48p ET Friday, July 19, 2019

Dear Friend of GATA and Gold:

Gold and silver market manipulation by governments, central banks, and bullion banks is so well documented now as to be beyond obvious, Bullion Star researcher Ronan Manly writes tonight. But the bigger manipulation, Manly concludes, is the very structure of the monetary metals markets themselves.

... Dispatch continues below ...


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Manly writes: "Manipulating gold and silver prices by spoofing futures trades and canceling them is one thing. Central bank intervention into physical gold markets to dampen the gold price is another. But perhaps the most far-reaching yet unappreciated method of manipulation is sitting there in plain sight, and that is the very structure of the contemporary 'gold' and 'silver' markets, where prices are established by trading in vast quantities of fractionally-backed synthetic gold and silver credit, be it in the form of vast quantities of unallocated positions that are 'gold' or 'silver' in name only, or in the form of gold and silver futures that haven't the slightest connection with CME-approved precious metals vaults and warehouses.

"By siphoning off demand for real gold and silver and channeling it into unbacked or fractionally-backed credits and futures, the central banks and their bullion bank counterparts have done an amazing job in creating an entire market structure of futures and synthetics trading that is unconnected to the physical gold and silver markets. This structure siphons demand away from the physical precious metals markets, and, in doing so, creates a system of price discovery that has nothing to do with physical gold and silver supply and demand."

Manly's analysis is headlined "Gold and Silver Price Manipulation -- The Greatest Trick Ever Pulled" and it's posted at Bullion Star here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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