Fund Manager: Gold & Silver Being Hit Like In 2008 To Cover-Up Impending Global Financial Crisis

• Fund Manager: Gold & Silver Being Hit Like In 2008 To Cover-Up Impending Global Financial Crisis
  by https://www.silverdoctors.com/
  Dave Kranzler provides a very critical update today on what is going on with gold, silver, and the broader markets. Here are the details…
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  by Dave Kranzler of Investment Research Dynamics 
  In 2008, gold was taken from $1020 to $700 and silver was pounded from $21 to  $7 during the period of time that Bear Stearns, Lehman and the U.S. financial system was collapsing.  The precious metals were behaving inversely to what would have been expected as the global financial system melted down.   Massive Central Bank intervention was at play.
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  Currently the price of gold and silver are being dismantled by what appears to be massive hedge fund shorting of Comex paper gold.  As of last Tuesday, the “managed money” trader category as detailed in the Commitment of Traders report showed that the hedge funds were short a record amount of paper gold.
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  As of yesterday the open interest in Comex paper gold was about 17,000 contracts higher than the open interest shown in last week’s COT report.  This represents another 1.7 million ozs – or 48 tonnes – of paper gold that has been dumped on the market.  It is highly probable, if not a certainty, that most of the increase in short interest is attributable to hedge fund algos chasing the paper price of gold lower.
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  Meanwhile, behind the scenes, the Bank of International Settlements (BIS) has been actively intervening in the physical gold market during July, as detailed by Robert Lambourne, a consultant to GATA:
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  read more.

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