You are here

Peter Degraaf: Commercials suppress monetary metals in 'casino' futures market

Section: Daily Dispatches

8:06p ET Tuesday, February 3, 2015

Dear Friend of GATA and Gold:

Also sounding like GATA tonight in his latest financial letter is market analyst Peter Degraaf, who has sounded like GATA before.

Degraaf writes: "While we invest to protect our nest egg against inflation by owning gold and silver, we are aware that when the commercial gold and silver dealers are heavily 'net short' in the futures market, they will spend hundreds of millions of dollars more, in the form of futures contracts, in an effort to drive the price down so that the previous short positions can be covered. When the futures market becomes a casino, without honest supervision (as now), the entity with the deepest pockets can control the price (in the short run). They can do this until the demand for physical gold forces them to finally run for cover."

Of course "the short run" lately has started to seem awfully long to investors in the monetary metals, but as the little red-haired girl sang, "the sun will come out tomorrow," and Degraaf's commentary, headlined "Playing Their Game," is posted at GoldSeek here:

http://news.goldseek.com/GoldSeek/1422989637.php

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



ADVERTISEMENT

Buy precious metals free of value-added tax throughout Europe

Europe Silver Bullion is a fast-growing dealer sourcing its products from renowned mints, refiners, and distributors. Because of a legal loophole that will close soon, you can acquire the world's most popular bullion coins free of value-added tax throughout the European Union. You can collect your order in person at our headquarters in Tallinn, Estonia, or have it delivered in any of the 28 EU countries.

Europe Silver Bullion is owned and operated by North American and European experts in selling, storing, and transporting precious metals. We have an extensive product inventory of silver, gold, platinum, and palladium, and our network spans the world.

Visit us at www.europesilverbullion.com.



Join GATA here:

Mining Investment Asia Conference
Resorts World Convention Centre
8 Sentosa Gateway, Sentosa Island
Singapore
Wednesday-Friday, March 18-20, 2015

http://www.mininginvestmentasia.com/

Mines and Money Conference
Hong Kong Convention and Exhibition Centre
1 Expo Drive, Wan Chai
Hong Kong Special Administrative Region, China
Monday-Friday, March 23-27, 2015
http://www.minesandmoney.com/hongkong/

* * *

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

https://jeffersoncompanies.com/landing/2014-av-powell

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

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

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

http://gata.org/node/wallstreetjournal

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

To contribute to GATA, please visit:

http://www.gata.org/node/16