Comex Gold Open Interest Numbers Show Massive Manipulated Gold Hit In Progress

Dave Kranzler

The Comex is a complete fraud.  It’s one of the biggest Ponzi schemes in history.

With China and Viet Nam (the latter being a major gold importing country) now closed until next Wednesday in observance of their Lunar New Year, the bullion banks have engaged in a major attempt to drive the price of gold lower.

Yesterday (Tuesday) 99,000 gold contracts  – 9.9 million ounces or 287 tonnes – were sold into the market between 9 a.m and 11 a.m. EST, which had the effect of driving the price of gold down over $26.  To put this into context, a total of 179,833 contracts traded between 6 p.m. Monday and 5 p.m. Tues. The entire daily trading period is 23 hours.

But 55% of yesterday’s total trading volume – the volume used to slam gold – was traded in a two-hour window of NY trading.

Rigged Gold Price Distorts Perception of Economic Reality

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Paul Craig Roberts and Dave Kranzler

The Federal Reserve and its bullion bank agents (JP Morgan, Scotia, and HSBC) have been using naked short-selling to drive down the price of gold since September 2011. The latest containment effort began in mid-July of this year, after gold had moved higher in price from the beginning of June and was threatening to take out key technical levels, which would have triggered a flood of buying from hedge funds. 

The Fed and its agents rig the gold price in the New York Comex futures (paper gold) market. The bullion banks have the ability to print an unlimited supply of gold contracts which are sold in large volumes at times when Comex activity is light.