21,256 Paper Gold Contracts in One Minute
21,256 Paper Gold Contracts in One Minute by Rory – The Daily Coin
This has been a strange week for gold and on Friday silver joined the strange party.
The week started with a surprise visit to Fort Knox by former Goldman Sachs bankster turned Treasury Secretary, Steve Mnuchin to let the world know the “gold is safe”. Well, I don’t remember any asking if the gold was safe, I do, however, remember a number of people asking if the gold is still in the vault. Typically, gold, or any other item, stored in a vault is considered safe. How much gold is actually in the vault, Mr. Mnuchin? What’s that, you don’t know? You only know what the ledger sheet reports? Well, how about an audit? Had you used the funds you and the wifey wasted on this “nothing burger” trip to Fort Knox and applied to an audit, we would be well on our way to having a 3rd party full audit of OUR gold.
Then on Wednesday Germany, out of the blue, announces they have received all the requested gold from the Federal Reserve Bank New York. Not only did Germany make this announcement it comes approximately 3 years ahead of schedule. Peter Boehringer, Architect of Germany’s Bring the Gold Home movement, is not convinced and neither am I.
We already know, via Mr. Boehringer’s research, it appears Germany’s gold has not been in any of the American vaults since approximately 1961 and has been nothing more than a ledger entry. Which begs the question – why the charade? Why did the Federal Reserve ship 7 tons of gold bullion to Germany, all new gold bars, from what little information that has been reported, and not the original gold bars Germany had originally deposited.
Then to end the week we had this happen and silver was tired of being left out of the nonsensical news reports so silver made a smallish headline of it’s own.
Click Image to Enlarge – Silver Chart
Do those massive gyrations look natural to you? They don’t really look like “fat finger” action; it looks like someone was attempting to move the market and added one too many zeros to the number of contracts being thrown at the system and they realized there was a mistake and then over-corrected and finally righted-the-ship and hit the number they were looking to hit in the first place. As you can see the “market” is used to the criminal gyrations and went about their business of trading silver and finished the day only slightly down from the previous close.
Gold, on the other hand, experienced these same type of massive up and down swings after having 21,256 paper gold contracts shoved into the system in about 1 minutes time. This is equal to more than 2 million ounces of paper gold – oh yeah. all this happened just as Yellen the Felon was beginning to spew her nonsense at Jackson Hole.
Click Image to Enlarge – Gold Chart