by Dan Norcini
Trader Dan
A friend sent me some comments from Chris Powell over at GATA (headquarters for the gold manipulation crowd) writing about the possibility of a change in the thinking of the Central Banks in regards to the gold price.
Here is the pertinent part of Chris’s comments:
“…the consensus policy of central banks in regard to gold has changed recently — that they now want gold rising again, most likely to assist in the devaluation of their currencies, particularly now the U.S. dollar, as well as devaluation of the world’s debt, and that the huge short positions of the banks in the futures markets are actually central bank positions that must continue to increase even to unprecedented levels to keep this devaluation “orderly,” to use a favorite term of central banking. (Really, who else but institutions that are authorized to create infinite money and that hold large gold reserves could accept the risk of such shorting?)