The chances of the initial gold sale which precipitated the April 12 gold price crash as being ‘legal’ were infinitesimal. Gene Arensberg does the maths.
by Lawrence Williams, MineWeb.com
There have already been a number of post mortems on the extraordinary trading events which precipitated the huge crash in the gold price of mid-April. Indeed we have already published some ourselves on Mineweb, and perhaps it might be considered over-egging the pudding to look at yet another analysis of these events given they occurred now well over a month ago. However our attention has been drawn to a post by Gene Arensberg on his ‘Got Gold’ site (http://www.gotgoldreport.com/2013/05/so-much-for-position-limits-on-comex-gold.html ) which analyses the events in some detail, and draws the conclusion that the ‘attack’ on gold could not have been accomplished without hugely breaching COMEX position limits, and that the takedown was probably illegal under U.S. financial regulations. Despite this it is presumed highly unlikely that any authorities will take any action as a result given those authorities are largely seen to be in the control of the financial elite, who were in all probability responsible for the extraordinary sales of gold into the markets on that fateful day.
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