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TF Metals Report: The epic battle continues
7:29p ET Tuesday, May 17, 2016
Dear Friend of GATA and Gold:
The TF Metals Report's Turd Ferguson shows today how yesterday's seemingly unprovoked smash of gold futures prices was another attack by the bullion banks that have -- or have been lent by central banks -- the power to create infinite amounts of imaginary metal for price suppression.
Ferguson writes: "Having the ability to create an endless supply of anything gives you direct control over whatever market you 'make.' And for three years this has provided a stream of easy profits for these bank trading desks. They would simply issue as many new contracts as necessary to wait out the specs. Eventually price would top out and momentum would stall. All it would take was usually one good shove from the banks and down would go price. The specs would all rush for the exits and the banks would use the ensuing selling to buy back and cover nearly all their recently issued shorts."
Ferguson's analysis is headlined "The Epic Battle Continues" and it's posted at the TF Metals Report here:
http://www.tfmetalsreport.com/blog/7631/epic-battle-continues
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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