wow, this was an eye-opener: "What is important is that almost all retail transactions for physical bullion in the US key off a 'spot price' that is derived from a paper market which is not based in the reality of physical supply, since the futures exchanges explicitly allow for the settlement in cash if physical bullion is not available.", from a 3-year-old article from Jesse's Café Américain. no wonder it's so easy to manipulate the price, as noted by Jesse in today's article.

can't help but wonder how many of the $85 or so billion printed by Ben Bernanke every month go into selling silver and gold deliberately well below market, thus making his worthless paper look good in comparison?

Back to blog or home page

last updated 2013-08-06 21:36:36. served from tektonic.jcomeau.com