So they can suppress or inflate the value any way they want by creating buy and sell contracts out of thin air and buy and sell to themselves. Then use creative accounting, to skirt scrutiny from gov (probably in on it) and the public.
Perhaps not. Likely because Gold is considered a safe haven asset so that it has never been studied in this light.
As a purely personal anecdote of having been in situations where famines occured, gold became utterly worthless. You'll see historical examples in Poland, China, Ireland in the 18th and 19th century. Gold is utterly useless when food becomes a problem. People traded cases of gold coins for food.
JP Morgan Chase and the other big Banks have been convicted of manipulating the precious metals markets, this is an easy explanation of how it is done, the process is called spoofing, it is illegal and people should go to jail for it!
(August-11-2022) REUTERS - Ex-JPMorgan traders cleared of racketeering, found guilty of fraud
"The case against the bank's former global precious metals desk head Michael Nowak, precious metals trader Gregg Smith and salesperson Jeffrey Ruffo is seen as the Justice Department's most aggressive to date targeting a manipulative futures trading tactic known as spoofing."
It's not just that, you or they don't exchange physical gold on their exchanges, they trade paper gold:
https://www.sunshineprofits.com/gold-silver/dictionary/paper-gold/
So they can suppress or inflate the value any way they want by creating buy and sell contracts out of thin air and buy and sell to themselves. Then use creative accounting, to skirt scrutiny from gov (probably in on it) and the public.
Bingo! 👆
Yup. Simple & quick explanation. Thanks.
Doesn't blink once.
We'd all love for gold to go to the moon.
But beware that gold has historically declined when food prices are high.
Interesting... Do you have any good sources I could take a look at or years to check out to compare food prices and precious metals?
Perhaps not. Likely because Gold is considered a safe haven asset so that it has never been studied in this light.
As a purely personal anecdote of having been in situations where famines occured, gold became utterly worthless. You'll see historical examples in Poland, China, Ireland in the 18th and 19th century. Gold is utterly useless when food becomes a problem. People traded cases of gold coins for food.
Good to know, gold is for when you have relatively stable food production
JP Morgan Chase and the other big Banks have been convicted of manipulating the precious metals markets, this is an easy explanation of how it is done, the process is called spoofing, it is illegal and people should go to jail for it!
(August-11-2022) REUTERS - Ex-JPMorgan traders cleared of racketeering, found guilty of fraud
https://archive.ph/l5Rhs
"The case against the bank's former global precious metals desk head Michael Nowak, precious metals trader Gregg Smith and salesperson Jeffrey Ruffo is seen as the Justice Department's most aggressive to date targeting a manipulative futures trading tactic known as spoofing."