Stunning Volume On Gold & Silver Smash In Suspect Trading

William Kaye:  “It’s the end game of a fantastic manipulation of the markets.  I’m looking at my screen now as we talk, Eric.  I’m in L.A. (Los Angeles), but we are still in Asian (trading) time with London just coming in at the moment, and we’ve traded over 94,000 contracts.

So passing the baton to London we will have already traded 100,000 contracts.  A normal night (during Asian trading) would be 20,000, to put that in perspective.  So the question is, who is selling all of these contracts at levels that are multi-year lows?  Who’s so keen to sell?.... 

“And if you need to sell, why are you selling at the worst time of day?  Why are you selling in Asian time, which is always the thinnest section of trading?  Why don’t you wait for London and Chicago to take over?

And the answer is very obvious:  These markets are clearly and blatantly being manipulated.
  The people doing it have clear price objectives.  My guess is they want to see a print below $1,300 (on gold) before they are done.  That will allow people (trading for the bullion banks) to make profits on their shorts.

The bullion banks, from the Commitment of Traders Reports that we’ve seen plus other information that we’ve gathered, strongly indicates that the banks, which are the  centerpiece of this conspiracy, have shifted rapidly from being on the edge of default, as ABN AMRO has already done, to being net long, and in some cases being very net long.

So they (bullion banks) have taken the opportunity that’s been provided by the cover from what would appear to be official intervention, in what I suspect is the Fed and possibly the ECB, to take the other side of that trade.  Now they are extremely net long and that sets the stage, in addition to a very promising technical picture, for a very powerful rally as we look at next week, into July and beyond.

The second half (of the year) could be extremely explosive on the upside for gold and silver as well.”

Full Story at KWN 

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