‘Not only is this preposterous, it’s illegal’

Mer från Ed Steers blogg:

But just this [past] week for example, the technical funds sold and the commercials bought more than 30 million oz of silver futures, an amount close to what the U.S. mines in a year and the U.S. is in the top ten of silver producing countries. It is not possible that the concerted one-week sale of the equivalent of such an amount of metal not to have been the primary influence on price. Over the past four weeks, the technical funds have sold to the commercials, 105 million oz of silver contracts, or three times what the U.S. produces in a year. What difference could it make what else may be going on in the world or in the metals world if such massive amounts are being transacted in full view?

The world’s gold, silver and copper producers, consumers and investors have been shut out from the price discovery process at the hands of large speculators plunging into and out from derivatives positions on the COMEX. Not only is this preposterous, it’s illegal. Most responsible for this sorry state of affairs is the crooked CME and CFTC. Funny how no part of me ever wants to apologize for calling them (along with JPMorgan) crooks.Silver analyst Ted Butler: 23 August 2014

2 reaktioner på ”‘Not only is this preposterous, it’s illegal’

    • Här har vi ytterligare en ‘expert’ som inte har en aningen om hur pengar skapas eller hur dem påverkar tillgångspriser. Ser inte hur något vettigt ska komma ut från deras slutsatser, de baseras på en felaktiga teori om hur det ekonomiska systemet fungerar

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