Is the Major Banking system in the US so desperate that they knowingly manipulated the silver & gold mkt. !??

Question

It's been said that Chase Morgan, Bank of America and others had sold tens of thousands of contracts regarding precious medals within a 2 week period of time that they didn't possess, and KNOWINGLY , thus driving the true value down to false lows.

What does this say about their integrity ??

If confronted for their illegal actions, what would be their responses :

" It's O.K. to rob a bank, because after all we just ripped off millions of you folks ! "

Really though...what kind of message does this send out ?

http://news.silverseek.com/TedButler/1219417468.php

Answer 1

1) No.

2) Nothing.

3) Open a brokerage account today.

I suggest you to open a brokerage account at Zecco and SELL SHORT the IAU, GLD and SLV ETFs in the future.

All you have to do is watch very closely the same numbers you were watching back in the day.

By the way, Short Sales are LEGAL.

Answer 2

It's called short selling.

There's nothing illegal in it.

Gold prices were going down way before.

As economic worries in the US soften and inflation lessens a bit from lower oil prices, so does gold.

Answer 3

I agree that I-banks are sleazy - I'm not going to defend any of them.  

But consider your source on the silver market - a silver merchant.  Looking at the COMEX pricing over the past 52 wks, and it doesn't look anything but consistent, to be honest.

With that said, It wouldn't surprise me to see any of the big bankers manipulating the markets.