Guest post by Gold SIlver Worlds.
GoldSilverWorlds had the honour to do a Q&A with Dimitri Speck who is the author of the best-selling book “Geheime Goldpolitik”. He is chief financial engineer of Staedel Hanseatic and runsSeasonalCharts.com, offering a wealth of intraday trend charts. He is also one of the people who increased the pressure to create transparency in the German’s gold holdings.
A lot has been written lately about the gold price manipulation and the real amounts of gold reserves of the central banks. There are several views on the same topic, the most rational one being purely statistical. As it’s easy to get caught by emotions, we have chosen in this article to let the figures and the charts tell the story.
As a seasoned mathematician, Dimitri Speck is focused on what the charts are revealing. He looks both into intraday charts as well as seasonal charts, the former being one specific variant of the latter. Based on years of chart analysis, he could clearly pinpoint the manipulation in the gold market. In his book, he explores the subject of gold holdings of the central banks, in particular the Bundesbank. Interestingly, there is a link between all the different topics we just mentioned, which was the topic of our Q&A.
Guest post by Peter Tchir.
Go Ahead, Make My Day
Greece has negotiated like the Clint Eastwood that spoke to an empty chair for 10 minutes. It is time to bring out the Dirty Harry. Point a magnum at the Troika and tell the “go ahead, make my day’!
Greece has been asking for money in some form or another for almost 3 years now. It begs and pleads. It is forced to do things to its people. Then it is back to begging and pleading. It is time to stop. The negotiations have been stupid. Not once has Greece come up with a credible alternative to more Troika money.
The Troika actually benefits as much, or more from supporting Greece and everyone would be better off if Greece was given real breathing room for a change. Since the Troika either doesn’t see it, or refuses to believe it, it is time to make the Troika see the error of the ways.
Defaulting Takes Planning
Defaulting, properly, is as much a process as anything else. You need to plan. You need to line up post default financing. You need a credible story of why investors should come to you post default. Sovereign defaults are particularly tricky since there are few rules to begin with, and enforcing those rules is tricky.
Guest post via GoldSilverWorlds.
There is much discussion these days as to whether the price of gold is being manipulated. The answer is simply “yes.”
It is likely that most potential gold investors would agree that the major financial institutions have theability to influence the gold price. They would also agree that to do so would be of benefit to those institutions. Yet, many investors still have difficulty making the final leap to agree that, if the institutions can manipulate the gold price and, by doing so, will profit from it, they will actually manipulate the price. Odd, as this would seem to me to be the easiest of the three premises to accept.
However, there are also many investors who do believe that manipulation exists. From time to time, investors have commented to me, “I don’t know how they’re going about it, but I’m sure it’s being done.”
This view suggests that the method of manipulation is difficult to understand.
Much of the manipulations that financial institutions perform are complex and confusing to those who are not involved in the industry, and this is intentional. The muddier the waters, the less transparent the activities are.
So, let’s take away the detail and express one common method of gold price manipulation in simple terms:
Is Silver about to totally explode? A few thoughts via Gold SIlver Worlds.
We are a long-time fan of John Embry, as we consider him one of the most experienced people in the precious metals world. In his latest interview on King World News, he confirmed once again what is happening particularly with silver: manipulation of silver prices is still going on but signs of shortage in physical silver are increasing by the day and hence a silver price explosion is almost unavoidable.
Manipulation vs opportunity
Just like several other precious metals experts, John Embry is confirming the ongoing suppression of the gold and silver prices. This is what he had to say on King World News in yesterday’s interview: “Two days before the QE announcement they dropped the price of silver about $1.50 in a nanosecond. It’s the same games being played by the same people, and it’s going to end horribly because all the manipulation is doing is creating wonderful buying opportunities for the Chinese, the Russians, and the rest of the central banks that know full well what’s going on. “
The LIBOR event was seen as a minor event by the investment community. People are occupied with the Eurozone summit and what Germany will say. Let’s not forget though, the LIBOR market is not a small stock some HFT algo is pushing around. Some thought on the “big market manipulation”, by Jessie.
There were two new developments in the ever unfolding crime drama known as the Anglo-American financial system.
Peter Madoff, brother to infamous Bernie and long time ‘chief compliance officer’ for the Madoff fund, is pleading guilty to the charge of ‘falsifying documents.’ As you may recall Harry Markopolos had attempted to call the fraudulent nature of the Madoff investment model to the attention of the regulators for years and was ignored, ridiculed, and threatened.
The bigger news of the day was the settlement with Barclays in the absolutely egregious fraud of fixing the LIBOR market rate. The Bank will pay a $450 million fine and incur no criminal penalties or trading sanctions. The American CEO Bob Diamond says he will forgo his personal bonus as well.
Other banks were involved, but Barclays has settled. Barclays Pays 450m to End LIBOR Prove
Bart Chilton of the CFTC was on the news claiming victory for the regulators.
A read of the some of the emails discovered in the case shows that the manipulation was almost as blatant and obvious as placing food orders at a takeaway restaurant.
Ah hey old boy, our positions are up against it, so would you be a good chap and knock 50 basis points off LIBOR for us tomorrow morning please.
Anything for your my good man. Consider it done.