Ted Butler: Blockbuster in Gold as JP Morgan Likely Acquired 10 M oz of Gold Liquidated by GLD!

• All scams are based on deception and mis-direction! Illuminist banksters are quietly accumulating physical gold and silver while depressing the paper prices! When they are done with the accumulation, gold and silver will skyrocket!
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• Ted Butler: Blockbuster in Gold as JP Morgan Likely Acquired 10 M oz of Gold Liquidated by GLD! 
  by Ted Butler, via http://silverdoctors.com/ 
  One of the key considerations in gold has been the redemption of more than 10 million ounces (over $15 billion) since year end from the world’s largest gold Exchange Traded Fund, GLD.    I believe that the big buyer of the 10 million ounces of gold liquidated in the GLD was JPMorgan, either alone or with other collusive commercial banks.
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  I’m not suggesting that JPMorgan did anything wrong by intentionally evading SEC reporting requirements.  That potential infraction pales in comparison to the real crime.  In this crime (actually more egregious in silver than in gold) the crooked bank manipulated gold prices lower, via the usual COMEX price-fixing mechanics, to induce GLD shareholders to sell. This was a planned and executed operation that left no stone unturned.
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  It appears to me that JPMorgan and their ilk have bought absolutely massive quantities of gold and silver in many different markets.  Unfortunately, much of that buying has come as a result of the deliberate and successful manipulation of price in order to force others to sell.  I don’t believe that is fair or even legal.  Nevertheless the bloodless verdict of the market suggests we are going a lot higher at some point soon.
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  by Ted Butler:
  This has been one of the worst stretches for gold and silver price-wise in quite some time, no secret there.  I have to go back to when silver was in single digits to find a comparable period.   The question on precious metals investors’ minds is whether this bad stretch is going to continue much longer.  Are the past few months setting the stage for a pronounced rebound in prices or has the tide changed for the worse for an extended period of time? I think the answer can be found in analyzing the following facts:
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  One of the key considerations in gold has been the redemption of more than 10 million ounces (over $15 billion) since year end from the world’s largest gold Exchange Traded Fund, GLD.  That is a major amount of gold and represents around 25% of the entire holdings in GLD (at year end).  The gold ETF holds the largest privately held stockpiles of the metal.  Consequently it has a pronounced influence on gold prices.
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  It is widely reported that the 10 million ounces of gold that came out of the GLD have been bought by India or China, even though substantiating data is lacking.  Let’s only consider the facts that we know.  The 10 million gold ounces that came out of the GLD equals roughly 100 million shares of GLD (one-tenth ounce per share).  The 10 million ounces that are no longer in the GLD still exist and, therefore, must be owned by someone.  We know that the reason the shares were liquidated in GLD was due to the rotten price performance that weighs on metals investors’ minds.  This tends to eliminate China as the big buyer; as such buying would cause gold prices to rise, not fall.  The shares were sold and metal redeemed because the price went down, largely a self-reinforcing spiral.  We know how much was sold and who the sellers were.  What we don’t know is the identity of the buyers.  There is a good reason for that. The buyers have tried mightily to hide their identity.
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  read more!

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