– Gold Slammed As ‘Panic-Seller’ Dumps $520 Million In Futures (ZeroHedge, May 20, 2014):
You can’t make this up. An initial dump in gold happened when Europe was getting going late last night but as the US wakes up and markets get active, someone (panic-seller) decided it was an entirely optimal time to sell $520 million notional gold futures – sending the price of the precious metal down $7. Intriguingly, though the notional size was large, the actual move is not as large as we have become used to with the ubiquitous Slamdowns (and it’s a Tuesday). At the same time, USDJPY was ramped… because we must maintain the appearance that stock markets are operating normally despite civil wars, coups, global growth slowdowns, and de-dollarization growing.
It is all totally rigged. 85% of all trades are high frequency meaning one individual controlling huge funds (at least on paper) buy and sell enormous amounts of securities in less time than it takes one to blink an eye. They buy and sell……never putting money in, always taking it out. It is skimming, and ought to be illegal…..it used to be when we had a credible market. Now, it is controlled by a few greedy guts who skim a few cents off securities and sell more quickly than one can count. Even worse, they pay nothing to do it…….the real investor who uses his own money is only composed of 15%…..and they have to buy, wait for it to settle. If they sell, they wait five days…..it is so rigged against the real people that we no longer have a chance.
Often the greedy guts are told what the market will do before the bell so they are given a bigger advantage than the real people…….we are not told how the market will open before the bell. It is a place for crooks, not for decent people.
Looks like the public war against the US has been launched at last.
It also has no relation to actual metal.
Only paper transactions.
Sadly the jobs of the badly treated gold & silver miners are in jeopardy because the manipulation renders their products of marginal prices, affecting profitability and earnings potential.
Globalised commercialism.