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

Gold researcher Koos Jansen reports tonight that the U.S. Mint has provided him with some documents in response to his freedom-of-information request for documents related to audits of the U.S. gold reserve but the documents provided are incomplete, redacted, and hundreds of pages short of the number of pages he was told were involved for which he was charged, and so the Mint has refunded his payment.

The Financial Times has a less than stellar reputation when it comes to ‘balanced’ reporting about precious metals – E.D.

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“Open vaults”? Hardly. The LBMA will issue reports that no independent auditor will be permitted to check and confirm. Those reports will not account for gold swaps and leases with central banks and other bullion banks that allow gold to be counted multiple times. And the data will be three months old besides. These failings are obvious but, being a mere public-relations agency for the financial industry, the Financial Times can’t bring itself to question them. It’s all pathetic but this at least shows that the gold gangsters are getting nervous. – Chris Powell, Secretary/Treasurer of the Gold Anti-Trust Action Committee.

In the wake of the Deutsche Bank precious metals manipulation settlement, we have not heard a peep out of the World Gold Council regarding the pervasive manipulation of the industry this trade association claims to represent.  As for mining company CEOs, on balance they’re AWOL, too.

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.

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:

TND Editor’s Note: In all likelihood, the information will be interesting not so much for what it directly discloses, but what can be seen by reading between the lines and noting what isn’t disclosed or, redacted.