The cartel has demonstrated they will continue to manipulate the paper or electronic market for gold. That is where their power lies.
When you have a digital printing press, which the Fed and the BIS both have, and you’re backstopping massive banks that are your agent banks, like JP Morgan and Goldman Sachs, in a market where almost no one stands for delivery, such as the Comex, essentially you can abuse and manipulate virtually at will. This simply requires that they don’t mind violating rules, and these guys don’t mind. This is why they are constantly being charged with illegal behavior. They’ve admitted to a number of different counts already.
So if they want to try to take the gold market significantly lower, they can do so by showing up with a naked 400 ton short sale order.
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