Quick Comments

Opine said...

The Real Speculators.

http://news.silverseek.com/TedButler/1213126384.php

Hence if the article is to be believed, oil prices are demand driven and gold prices is in fact being manipulated.

With all the FED talk about raising rates, it is in their interests to keep gold down as it is seen as an inflation gauge. This will buy them time for sentiments to improve.

So far all the FED speak has had some effect, namely the strengthening of the Dollar.

My guess is gold will move when everyone thinks it won't and will trade opposite of the fundamentals for the above reasons in the short term.

Hats off to all those who trade gold, they must be really courageous to do so in this environment of interventions, controls and manipulation.

As for BEN raising rates, he may actually do it if he can keep the CDS from exploding (hear that clearing houses are being discussed ?!), subprime i think is a distraction to keep the public from knowing the real extent of the pervasiveness of the derivative debacle.Just my 2 cents.

Wednesday, June 11, 2008 12:17:00 PM

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-- I have consistently iterated that Crude is largely driven by supply and demand. Is the media and mainstream economists who think otherwise, but they have never called a top successfully. They have been consistently wrong, and consistently raising their targets at the bottom.

-- Fiat currencies are the cancer of our monetary system. Central banks will print every dollar they need to depress the price of Gold. They have been doing that for years. But the real question is: for how long can they afford to do that? They will fail, just a matter of time. When that happens, we will enter the next phase of wealth destruction.

-- Subprime is just the tip of the iceberg.