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"There's only one thing I someday hope I can find out. There were 53,000 contracts of gold sold immediately, in one sweep, the day that gold really crashed. Fifty-three thousand is huge, because the gold market is very small. Let's say we're a Chinese bank. We want to dump our treasuries and our dollars; we have $2 billion. You don't dump 'em in one day, because you lose your investment. The person who was getting rid of 53,000 contracts, why would they do that? If they wanted to just wean themselves off, they would have done it slowly."
Originally posted by ModernAcademia
"There's only one thing I someday hope I can find out. There were 53,000 contracts of gold sold immediately, in one sweep, the day that gold really crashed. Fifty-three thousand is huge, because the gold market is very small. Let's say we're a Chinese bank. We want to dump our treasuries and our dollars; we have $2 billion. You don't dump 'em in one day, because you lose your investment. The person who was getting rid of 53,000 contracts, why would they do that? If they wanted to just wean themselves off, they would have done it slowly."
www.slate.com...
That's one of the most interesting statements this year.
I've been researching a lot on why Gold fell, and I had not heard of this.
From what I've read the best I can guess is Obama's stimulus packages caused some surges and some declines, and his involvement in the market of course.
But the above, I did not think of that.
Who sold those 53k worth of gold?
How come THAT has not been in the news?
Where's the investigative journalism
Even if there's no conspiracy here, at least CNBC or Jim Cramer could have mentioned this.
53k worth of gold....
Originally posted by sirhumperdink
reply to post by ModernAcademia
no i think hes wrong
they would sell all at once because if they were to "wean" themselves the price would fall as what they are selling enters the market so they would get less and less every time they sell some off
it also makes a lot of sense to buy and sell in bulk if you are intending to manipulate the value of a commodity
....i dont think theres anything "weird" about this at alledit on 18-4-2013 by sirhumperdink because: (no reason given)
Originally posted by sirhumperdink
reply to post by ModernAcademia
no i think hes wrong
they would sell all at once because if they were to "wean" themselves the price would fall as what they are selling enters the market so they would get less and less every time they sell some off
it also makes a lot of sense to buy and sell in bulk if you are intending to manipulate the value of a commodity
....i dont think theres anything "weird" about this at alledit on 18-4-2013 by sirhumperdink because: (no reason given)