No. of Recommendations: 2
"Bank of Japan’s monetary blitz explains the Fed action to suppress the gold price this week

Although some here claim I'm a gold bug, I think of myself as preserving my purchasing power through the various types of bullion that I own.

Having said that, I really don't buy into the Fed manipulating gold or any other precious metal pricing. I will agree that the "oversight" bodies are definitely not very enthusiastic about enforcing short selling rules (i.e. requiring that the item being shorted actually being borrowed first).

I think the selling this week was Cyprus living up to the ECB, et al demand that they sell their gold as part of the bail-out-in-whatever agreement. Since Cyprus likely didn't own much gold, their impact was just a matter of days in duration. I've thought privately that it would be funny (in a not funny way) if Germany was the buyer of the gold they required to be sold.

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