Orchestrated Panic
John Brimelow on the Gold Crashes
by Kevin Michael Grace
Resources Wire
Institutional gold analyst and consultant John Brimelow spoke to Kevin Michael Grace April 17.
RW: Using Occam’s razor as our tool, can we state with certainty that the gold crashes on Friday and Monday were not an accident?
JB: Absolutely. You don’t have to use a philosophical concept; you just have to look at the data. To say nothing of the time of the selling, as has been well discussed by Ross Norman. Huge volume packed into a few minutes.
RW: James Kunstler mentioned the 500-ton dump.
JB: It was phenomenal. And the selling after the New York close, the selling before the Asian market open. The open interest rose, and then gold fell 13.1%. The only thing that can explain this is massive short selling. The volume on Monday was a record, by a factor of 66%. Sixty-six percent!
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2013-04-18 18:30:17
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