My Dear Extended Family,
Scorn if it pleases you, but know this. Gold is soon to become the friend of the market manipulators, and then the enemy of the dollar. They sense political weakness, and see loss of control amongst their masters. More than 50 years of doing nothing but this every day of my life tells me so.
Some say, why respect the enemy? The answer is that soon these enemies will be the sharks that eat the sharks, becoming your market friend.
This is outright war called finance.
Some say never oppose the Federal Reserve. These sharks know no force they will fail to test and turn on if weakness is shown.
Bernanke wished to exit before this coming reality. The problem with my dear extended family is too much mind, and too little soul.
Prepare yourselves to soon witness a positive change in the affairs of this war for freedom.
Dealers rigged forex spot benchmarks: report
By Michael Kitchen
LOS ANGELES (MarketWatch) — Traders at a number of major global banks have been manipulating spot foreign-exchange rates for at least a decade, altering the values of trillions of dollars worth of investments, Bloomberg News reported Tuesday, citing five unnamed dealers. The scheme involves the WM/Reuters Closing Spot Rates, which are used to provide daily benchmarks to value portfolios. However, market participants have been front-running client orders to rig the rates by pushing through trades before and during a 60-second window when the rates are set. British regulators are considering a probe into allegations of this practice, the report said.