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Gold Flash Crash: Over-the-top Manipulation So Obvious Even Mainstream Media Forced To Report
But the mainstream coverage, of course, buries details well below headlines.
TND News Round-up:
One doesn’t get more mainstream and high-brow than the Financial Times of London. Historically, their coverage of precious metals is horribly biased and phobic of saying anything about manipulation. But now and then the paper surprises. In an article headlined “Gold Bugs Squashed by Aggressive Selling,” FT reports:
Traders and analysts said, however, that the nature and timing of the selling suggested there was more at play than investors responding to a slight strengthening in the US dollar or lower central bank purchases.
“There is to my mind no coincidence that this happened in the quietest, thinnest period of the week,” said David Govett, head of precious metals at Marex Spectron in London. “Anyone who trades gold knows not to put any volume into the market at this time, unless they deliberately want to move it in a big way.”
Click here for the full story.
Of course, FT doesn’t report on the actual data in quite the blunt but fully justified fashion as, say, ZeroHedge:
Just before 9:30pm Eastern time or right as China opened for trading, gold (as well as platinum, silver, and virtually all precious metals) flashed crashed when “someone” sold $2.7 billion notional in gold, resulting in a 4.2% decline or about $50 to just over $1,086/oz, the lowest level since March 2010.
Click here for the full story.
Someday, perhaps the FT will interview Bill Murphy and/or Chris Powell from GATA — but don’t hold your breath.
Source: http://thenewsdoctors.com/gold-flash-crash-over-the-top-manipulation-so-obvious-even-mainstream-media-forced-to-report/
