Bill Murphy the founder of GATA and the publisher of Le Metropole, a subscriber newsletter emailed me back this morning when I asked his opinion of what is happening with metals.
Here is his email to me unchanged:
Hello Sherrie,
Black is White and White is Black in the gold world. The
more bullish the situation is, the more they attack. Ever since the first week in October, when the price
of gold traded $1793 and silver was $35+, the selling by The Gold Cartel/JPM has
been the most intense I have seen in 15 years. Not one single day has gone by
since then when they could not be spotted with one of their
maneuvers.
This collapse has all been orchestrated with this collapse set in
motion on Friday following the PM Fix when the physical pricing was over the day (PLAN B). In
addition The Gold Cartel loves to attack on Friday. There is an
83.2% chance of gold being lower or unchanged on Friday because of what they do
and when.
Gold was hit so hard by The Gold Cartel forces, it broke below key
price levels and down from a massive base. After falling to $1501 on the Comex, it was bombed
in the Access Market to $1477 (PLAN C). And on we went from there last night and today
to below $1400.
As far as silver goes, my "smeller" has told me for some time JP
Morgan was going to crash the market so they could cover more of their massive short
position. Whilethe open interest in gold is fairly low, the silver open interest
has blown into multi-yearhighs. Because of the strength in the physical market, super longs
were taking JPM on.
They are now paying the price for doing so.
It is all beyond corrupt. Could go on for hours here. For any
Canadian readers of yours, suggest they watch the CBC documentary on Thursday night, The Secret World
of Gold. It will explain a lot of what happened today and why.
All the best
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