Ed Steer, in his daily commentary article this morning entitled JPMorgan et al Do It To Us One More Time had some interesting comments on this week's gold price decline that began on Wednesday, and as I write this on Friday morning, is continuing.

Of course, what really happened on Wednesday won't be known until next Friday's Commitment of Traders report on January 29th... not today's. As I've mentioned many times in the past, these crooks always seem to arrange a major decline in prices starting after the Tuesday cut-off for Friday's [today's] Commitment of Traders report. This decline began on Tuesday night [Wednesday morning in the Far East] at 8:00 p.m. in New York... about three hours after the markets had closed on Tuesday.

The other thing I forgot about yesterday was the fact that we're coming up hard on the next gold delivery month... which is February. Option expiry for the February contract is next Tuesday, January 26th. Needless to say, the bullion banks are leaning on the price for that reason as well. Tuesday the 26th is also the cut-off for next Friday's COT report, so the banks can keep what they're doing hidden between now and then... and they obviously are... at least in gold.

Translation:
The major banks, JP Morgan, et al, are all in the paper money creation business. A rising gold price endangers their little legal counterfeiting enterprise. To hold down gold prices, they sell massive amounts of Gold Short Contracts in the futures markets which artificially bids the price of gold down. As long as that price is down when those options contracts expire, they don't lose money. This is why they often make their biggest moves toward the end of the month, which is when the contracts expire. They really don't care what happens to the price in the middle of the month.

They also like to make their major moves after Tuesdays, which delays disclosure of these moves till the following Friday. This gives the public time to overlook their connection to the market rigging that is going on. Of course, everyone knows what is going on

Silver Lining
Of course the silver lining is this.... For ten years the price of gold has continued to rise IN SPITE OF THEIR EFFORTS to hold it down. They win some short term battles, but are losing the war. They know they can't keep the price from rising. All they are trying to do is keep it from exploding to the upside and wrecking their house of cards in the process. Therefore, look at these temporary assaults on the price of gold as buying opportunities, for we know that the laws of supply and demand cannot be suspended indefinantly.

They've (the Banksters) got a tiger (the Gold Price) by the tail. They are slowing him down some, but he is still gonna go where HE wants to go. When he finally shakes them free, he will amaze everyone at how fast he can go.