Bill Murphy – Black Swan Price Explosion Coming for Gold & Silver
by Greg Hunter
USA Watchdog
Bill Murphy, Chairman of the Gold Anti-Trust Action Committee (GATA), says don’t worry about the recent price drop forced on the markets by the gold cartel with naked short selling. It’s not going to keep prices down for long. Murphy contends, “We have been trying to expose what this gold cartel has been doing. The bullion banks, the Fed, the Treasury, the Bank for International Settlement (BIS) and what they have done is to suppress the price. What has happened after all these years is the gold cartels have run out of enough physical gold to do what they have done. They are lost. They have blown up really. They can act in the paper market, but since May, gold has made one new high after another. . . . They are panicking to get out, and to do that, they are panicking speculators to get out of the gold and silver markets and collapsing the prices.”
Murphy says physical gold and silver metal is being bought up at a fast pace with the artificially cheaper prices. Murphy says, “This is another example to how close we are getting to the gold market blowing up. I am talking about $100 per ounce up days will become common . . . because there won’t be any physical gold to meet the demand. It’s going to go bonkers all over the world. They can’t stop it. . . . All I can say right now is they (gold cartel) are panicking the paper speculators out of the gold and silver market so they can cover their massive short positions. It’s absolutely staggering what’s been going on in the past couple of days. They have created a panic in the paper market, but it’s not happening in the physical market. The U.S. Mint just stopped selling Silver Eagles because they ran out.”