30+ year participants in precious metals are dumping their exposure and chasing bitcoin and other crypto currencies.  Meanwhile, the May 25th Comex expiration for the June contract was addressed in the last week with a large batch of new short interest contract issuance to meet rising demand so as to keep a lid on gold’s upside.  But a funny thing happened.  The cartel has failed to push gold down.  This is an extremely positive development.  

In the following outstanding interview my colleague Jason Barack asks Mr. Murphy probing questions.   This is listening time well spent.  – Eric Dubin

For now the big accumulators of physical gold (China, Russia, India) are content with the current rigged market price of gold as long as the west can continue to make deliveries into these countries. But at some point the west’s “cupboard” will be bare and big buyers will see what the Comex really has in its vaults.

The cacophony of voices exaggerating the short-term impact of the Chinese yuan into the IMF SDR basket included pathetic, over-the-top marketing of newsletter writers, even by the otherwise venerable Jim Rickards.  This type of hype is damaging, because it sets unrealistic expectations among stackers and other investors seeking to hedge.  When unrealistic expectations fail to materialize, some individuals abandon their hedge and disavow exposure to the precious metals sector.  The newsletter industry disgusts me, and I no longer care to sugar coat my opinion.   – Eric Dubin, Managing Editor, The News Doctors.  

With Gold and Silver Prices Smashed Again Friday Afternoon, GATA Chairman Bill Murphy’s Mic Was SMOKING…

 

Ken Ameduri of Crush The Street today interviews GATA Chairman Bill Murphy about silver’s threat to the central bank gold price suppression scheme.

The interview covers the risks of the world monetary system, changes in the procedures of the daily gold price fixing in London, the use of the derivative market to control monetary metals prices, and the refusal of mainstream financial news organizations to report central bank intervention in the markets.

GATA’s Bill Murphy joins Dr. Dave Janda for the first time to discuss recent precious metals trading, manipulation and the state of the markets.  Here’s the full “Operation Freedom” line-up:

Bill Murphy Warned For Several Years That $18.50 Would Serve As A Trigger For Silver. 
Sure Enough, Silver Prices Rocketed Higher After Reaching $18.50.
Has the Road Been Cleared For A Mega Move to $50/oz, and Then On to $100? 
We Invited the GATA Chairman Back On the Show This Week To Discuss What Comes Next For Silver Prices.  Key points:

  • One of the Biggest and Fastest Moves in History Could Begin NOW
  • Silver Is In Play, and the BIG MONEY is Going After It – “It’s Going to Be BREATHTAKING”
  • NO MAJOR CORRECTIONS On the Way Up? Why Big Money Could Continue Buying Silver Until the Public Becomes Involved
  • Think the Mining Shares Have Moved in 2016? Wait Till You See What the Shares Do When the Public Comes In! 
  • Murphy Warns: Once It Gets Above $21, Silver Will Reach $50 Faster Than It Did in 2011!

TND Podcast Spotlight: Reluctant Preppers

By Chris Powell

Interviewed by Reluctant Preppers, GATA Chairman Bill Murphy examines the volatility in the monetary metals markets and the growing strains on the price-suppression efforts of central banks and their agents. He adds that only a “commercial signal failure” caused by the triumph of the physical market over the paper market will pry the metals free. The interview is 12 minutes long and can be heard at You Tube here:

Source: Reluctant Preppers YouTube Channel

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About Chris Powell:

chris powell

Mr. Powell has been managing editor of the Journal Inquirer, a daily newspaper in Manchester, Connecticut, since 1974. He serves as the secretary/treasurer and a director of the Gold Anti-Trust Action Committee (GATA). Mr. Powell publishes GATA “dispatches” on stories relevant to the precious metals community: click here to access them and the GATA website. For additional information about precious metals, financial markets and the economy a 2 week free trial to GATA chairman Bill Murphy’s subscription service is available by clicking here.   This article is reprinted on The News Doctors with permission.