Wow. The manipulation just never ends. How many people knew this ahead of schedule? Apparently a hell of a lot of insiders. Gold down over 100 bucks, silver losing 15%.
Fucking banker crooks. http://www.zerohedge.com/news/case-closed-cme-hikes-gold-silver-copper-margins#comment-1703415
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3 comments:
I knew it had to be something like that. A good time to buy some because it's going to go back up.
Years ago (1980s), Mr. AOW and I were in the coin business. We also dealt in precious metals.
All of us knew that market manipulation was afoot. The trick to making money in precious metals was knowing when to sell as, inevitably, a price drop was always on the horizon.
We lucked out in the silver market. On a hunch, Mr. AOW sold all his bullion silver one day before the market dropped. Had he waited 12 more hours, we'd have made more money. But had he waited 36 hours, we'd have taken a bath in our losses.
BTW, futures are particularly manipulated.
I prefer to buy physical merchandise. Jewelry is my preference as I can enjoy my investment -- until it's time to sell, of course.
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