When it comes to precious metals manipulation, there are many out there who still believe it as a sideshow that may or may not be happening. This platform, CrushTheStreet.com, takes a firm stance in that it is happening and the collusion and the manipulation is getting worse day after day. The London Gold Pool was a seven-year experiment that eventually imploded, just like all Ponzi schemes eventually do. The COMEX has undoubtedly become the vehicle that central banks are using to control precious metals pricing, and their efforts are getting extreme but will ultimately have an end date.
I just interviewed Craig Hemke, aka Turd Ferguson, of TFMetalsReport.com, and he goes over the significance of the extremes of what we are seeing in terms of the historical leverage of actual physical metals to the amount of paper promises that are currently out there. Currently, there are 325 paper promises to 1 ounce of registered physical gold on the COMEX. To put that into perspective, you can imagine 325 people playing musical chairs, while circling only one chair. When the music stops, there will be many disappointed people who didn’t know they were playing a rigged game.
When it’s put into perspective in the way that Craig does it, it is clear for us all to see that they will ultimately lose control of the mess they have perpetuated. Take the time to listen to this interview, as we discuss the extremes at the moment and the threat precious metals propose to the current monetary system of today.