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