by Jeff Nielson, Bullion Bulls Canada:
It’s Friday July 25th, and the “big news” of the day (other than Israel’s latest war-crimes against the Palestinians) comes from an item I spotted this morning at Jim Sinclair’s site (www.jsmineset.com/). However, that item comes from a website that has been BANNED on this site (one of only two, in the entire world-wide-web), and so readers will not see an excerpt of that item here.
Instead, I’ll simply report its stunning contents, since there is actually only one really significant factoid in the article: apparently 50% of all trades at the CME (Chicago Mercantile Exchange) are “illegal wash trades”.
What is a “wash trade”? It is a trade with no “business purpose” of any kind. What, then, is the purpose of a wash trade? To manipulate markets. Understanding that millions and millions of “trades” take place each day at the CME (roughly 12 million “contracts” per day); what could possibly generate that sort of volume of (phony) wash trades?
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