I did not plan to write another public article so soon after the last one but today’s topic(s) are very important and very connected in my opinion. I apologize for the length but I can’t make this stuff up, I just try to tie it together. First, we have been hearing the word ‘rigged’ on a daily basis and pertaining to many facets of our life. We hear the word regarding markets, politics (specifically elections), our rule of law and judicial system, and even when it comes to lawmakers and bribery.
Bill Gross formerly of PIMCO, at one point managed the largest pool of money on the planet, he is no fool. I would also believe because of his fame, tenure and reputation, he would not lightly claim that markets are ‘rigged’. Not only has he claimed this for several months, he now says THE FED ‘has mastered market manipulation’! Please understand this is a VERY BIG statement on his part as he is (was?) a member of a very exclusive club (and we ain’t in it). Do you suppose he would risk his reputation and inclusion in ‘the club’ lightly on just a suspicion? Or do you believe he is a man who firmly believes what he says and does so out of a steadfast conscience?
Speaking of ‘rigged’, there are those out there who will agree that ALL markets are rigged …except of course for gold and silver because ‘they would never do this’ or ‘central banks could care less’ about gold. It was just last week where we saw $1.5 billion worth of gold sold in just seconds …today we witnessed another $4.7 billion dumped all at once. These two trades combined represent over 6% of global annual production or about 3 weeks’ worth. As I have said 20 times before, no one has this amount of gold to sell and no trader who wanted to keep his job would ever sell like this, period. You have again witnessed IN YOUR FACE MANIPULATION!
This post was published at JSMineSet on September 1st, 2016.