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Saturday, April 14, 2007

IS ANYBODY WATCHING GOLD?

IS ANYBODY WATCHING GOLD?

I have been fascinated at watching the gold market, especially as it relates to how the gold market is manipulated. The central banks around the world do not want the world to know that the paper money they print is worthless without backing it up with something tangible, such as gold, which is worth something. They certainly do not want gold to stand out as an obvious alternative to paper money.
In the end too much paper money and the illusion that it is worth less than the Central Banks would like you to believe will result in collapse of the paper money scheme perpetrated by the Central Banks.

This is the main reason why the US dollar is tanking before our eyes. Several years ago one dollar was equal to one EURO. Today, one dollar is worth .7500 EUROS even though the US economy is considered number one around the world.

In February, 2007, the central banks and their allies resorted to aggressive short selling of gold on the COMEX market to the extent that the open interest reached record high.

Then, a crackdown on speculation in China triggered a 9.6 percent decline in the Chinese stock market. This resulted in a drop of 50 dollars per ounce in the price of gold. The short sellers bought back gold at lower prices and made money. This information has been redacted from the article as it originally appeared in Investor’s Digest, March 30, 2007. The opinions expressed in this article are solely those of the author. You can find Embrys commentary, The Time for Gold to Go Ballistic Approaches, at the Sprott internet site:
http://sprott.com/pdf/investorsdigest/investors_digest_mar_30_2007.pdf


Soon to come is an attempt to answer the question of has anything happened to the US so-called gold reserves?

nicola michael c. Tauraso, M.D.

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