500 tons of "paper" gold dumped on the market today.

[old steel]

How is this legal?

[Libertarian_Guard]

How is this legal?

Because paper trumps metal.

LG


When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it.

Everyone wants to live at the expense of the state. They forget the state lives at the expense of everyone.

Often the masses are plundered and do not know it.


Frederic Bastiat


http://www.galtstock.com/Frederic-Bastiat-Quotes.html

[JohnQPublic]

It is probably already on a ship to China.

[Ponce]

It is probably already on a ship to China.

For what? to be use as toilet paper?.......

V

[old steel]

Whistleblower Andrew Maguire told King World News that more than a stunning 500 tons of paper gold has been sold in today’s takedown in the gold market. Maguire also spoke to KWN about the staggering Chinese physical gold purchases. Below is what Maguire had to say in this remarkable and exclusive interview.






Eric King: “How much paper gold was sold to take this market down, and how much tonnage have the Chinese and others been taking out of the physical market?”



Maguire: “Just since the cross (today) of $1,550 into the (London) fix and the breach of $1,500, we are now looking at in excess of 500 tons of paper gold that’s been sold....



Continue reading the Andrew Maguire interview below...



http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/12_Maguire_-_Over_500_Tons_Of_Paper_Gold_Sold_In_Takedown.html

[gunDriller]

Whistleblower Andrew Maguire told King World News that more than a stunning 500 tons of paper gold has been sold in today’s takedown in the gold market.

Maguire: “Just since the cross (today) of $1,550 into the (London) fix and the breach of $1,500, we are now looking at in excess of 500 tons of paper gold that’s been sold....


that was hours before the final push into the $1400's & $25's.

seems like they found some MORE paper PM's to sell.

[midnight rambler]

Whoever would've thought that trees (or electrons) would be worth more than very useful shiny metals which are in high demand?

[Hatha Sunahara]

Jim Sinclair thinks that this mad suppression of the gold price has something to do with the mountain of derivatives the TBTF banks are liable for. But he doesn't speculate on what exactly it is. I've been trying to come up with my own theory of what is motivating the gold price suppression. All I can come up with is that the Banksters are bashing gold to make the dollar look good and forestall its inevitable collapse. I think the derivatives will self liquidate as a result of a hyperinflation.

Sinclair keeps saying that all these desperate manipulations of the POG are positive signs, and that the rebound in POG will be more robust. I give hijm credit for knowing the gold market, but I can only accept that proposition on faith. I see no rational basis for his optimism.


Hatha

[Spectrism]

The big boys have already found out that they can turn over the game table when they are losing and get awarded the "win". If they are in the hole for 20 trillion fake dollars, why not go into the hole for another 50 trillion if they can make the cost of a real asset drop and they buy up the assets for safe keeping. The debt will be put onto a scapegoat bank that will then be declared insolvent and the taxpayers will take on the debt.

[Jewboo]

When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it....Frederic Bastiat



http://rlv.zcache.com.br/examine_o_fed_mousepad_tapete_de_rato-p144408794291283861en7lc_216.jpg

So much for this quaint notion...lol.

Silly for us to even notice this stuff anymore. Fort Knox been inspected lately? FED ever been really audited?

Nope. Never will be.

:)

[Libertarian_Guard]

http://rlv.zcache.com.br/examine_o_fed_mousepad_tapete_de_rato-p144408794291283861en7lc_216.jpg

So much for this quaint notion...lol.

Silly for us to even notice this stuff anymore. Fort Knox been inspected lately? FED ever been really audited?

Nope. Never will be.

:)

True enough, but it is still a worthy cause to keep exposing the fed as a private monopoly with far too much power and influence.

Expanding the money supply by 27% a year without any real accountability is a scam.

[FreeEnergy]

I'll give my 5 cents.

I believe they (TPTB) are after real estate.

Typically gold moves contrary to real estate. Here's gold-to-housing historic chart:

http://4.bp.blogspot.com/-d06tf68IlMQ/TlLITx4shlI/AAAAAAAAIxQ/X-fOad2HZk8/s1600/GoldHousingChart.JPG

Clearly the FED doesn't want housing to go further down, which is needed to clear bubble. Probably too many derivatives are riding on it NOT going down.
So naturally if you want to pop that chart up, you have two choices: 1) you can print your way out (check), or 2) you can also lower denominator, i.e. beat down the price of gold.