Yes Virginia, the PM Markets ARE being manipulated.

There is an interesting article on KWN about the US Government admission that the PM Markets are being manipulated. The reference is contained in an article entitled: "The Shocking Truth About Secret Documents and the CFTC.

In 2001 Reg Howe had sued the BIS, the FED, the US Treasury and JP Morgan for manipulating the Gold Market. The Author states:

 

 

"I bumped into the Exchange Stabilization Fund and JP Morgan back in 2001, when we were underwriting Reg Howe’s lawsuit against the Bank for International Settlements, the Fed, the US Treasury, JP Morgan, and other bullion banks.  Reg was charging them with gold market manipulation.

In one hearing I attended in US District Court in Boston, an assistant US attorney got up, speaking on behalf of the US government, and he said that the US government under the Exchange Stabilization Fund Statute, the Gold Reserve Act of 1934, had precisely the power to interfere with the pricing of gold that the lawsuit complained of -- that is, a US government lawyer declared in open court, in 2001, that rigging the gold market as government policy is totally authorized by law.

You will find the US Treasury Department quoting the Gold Reserve Act as saying the Exchange Stabilization Fund can intervene, as I said previously, not only in the gold market, but in any financial market.  This intervention power is essentially an economic declaration of war against every other nation in the world."

 

I have stopped doing TA on gold prices because it is manipulated by the US Government. Larry Edelson's insistence that the prices are not manipulated is the source of the many errors he recently committed in giving bad forecasts.

 

What is wrong with the manipulations? Plenty. The FED essentially risks the financial stability of the world to keep PM prices down. And in the effort, it is transferring gold to China and other countries.