Why PMs remain range-bound?

razzle

Ted Butler's supposition fits with my intuitive sense that what we've seen is less a nefarious conspiratorial manipulation and more an attempt by central banks and gov't to stabilize the economy. In a way, it is not unlike stealing from the savers in Cyprus, it steals from PM investors and is anything but transparent in a "free" market.


<< <i>That it is JPMorgan as the likely concentrated short candidate in all four [precious metals] is deeply troubling. Why is any U.S. bank so heavily involved on the short side of any metals market, to say nothing of why is our most systemically important bank probably the one big precious metals short? It’s hard not to reach the conclusion that JPMorgan has been anointed by some entity within the U.S. Government to tamp down any price rally in any precious metal market. This also explains why the CFTC has stood by in allowing the silver manipulation to spread to other markets, violating its most important mission of preventing manipulation. Instead, it appears the CFTC is sanctioning an ever-expanding price manipulation scheme. As such, they appear as crooked as JPMorgan. - Silver analyst Ted Butler...20 March 2013 >>

Darwin

The range of values will be zero to infinity.

jmski52

The range of values won't include zero.

razzle

Darwin, just because you believe FOX News is also lying to you doesn't necessarily make you a cult, especially since you demonstrate such a firm grasp of the obvious with regard to the PM price range.

cohodk

less a nefarious conspiratorial manipulation and more an attempt by central banks and gov't to stabilize the economy


Isnt this the same?

razzle

cohodk, you asked,

<< <i>Isnt this the same? >>


I am differentiating because I believe there is less of a profit motive to the price suppression. Nonetheless, as you seem to suggest, there is certainly the appearance of wrongdoing, so they may be the same.

Baley

IMO, metals remain rangebound because when the go up, people sell them, and when they go down, people buy them.

Baley

sorry for killin' the thread by stating the profoundly obvious

Have a good weekend

derryb

<< <i>cohodk, you asked,

<< <i>Isnt this the same? >>


I am differentiating because I believe there is less of a profit motive to the price suppression. Nonetheless, as you seem to suggest, there is certainly the appearance of wrongdoing, so they may be the same. >>


Price suppression by those pulling the strings that provides profit for those dangling from the strings. Win-win for both parties.

Recent events in India fully demonstrate that control of gold is essential in strengthening currency and should remove doubt of US FED actions and intentions concerning gold prices.



<< <i>it is not unlike stealing from the savers in Cyprus, it steals from PM investors and is anything but transparent in a "free" market. >>


difference being Cyprus savers did not realize their money in banks was at risk, PM investors do. American savers have now been publicly warned - they are considered creditors and their bank accounts ARE at risk.

mrpaseo

<< <i> American savers have now been warned - they are considered creditors and their bank accounts ARE at risk. >>



This is why I like PMs and the envelope system for my Fiat toilet paper.

derryb

nothing wrong with fiat as long as you see it for what it is. Having it in your wallet It is a necessary risk.