by Lawrence Williams, MineWeb.com
The statement in the title relates to a frustrated comment in a recent King World News interview with John Hathaway, a renowned gold stocks analyst who manages the well-respected Tocqueville Gold Fund in the USA. Now, this factoid will not be news to regular readers of Mineweb, or to any avid follower of the gold market, and is perhaps indicative of the way virtually all markets are manipulated by the world’s financial elite.
In context, Hathaway’s statement in commenting on yet another gold price take-down was as follows: “These guys don’t even have to borrow the gold to sell it. It’s probably a couple of bullion banks, and they use their balance sheets to justify the leverage of selling gold they don’t possess. In some ways this is just a travesty. We have entities moving this major market and making leveraged bets, but they do it without having to take physical possession and short the way you would do it on a normal exchange.
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