In case you haven’t been following it, gold fell off a cliff when the FTSE opened this morning, from $1427 to $1409. It then flatlined at that price, until the NYSE opened….at which point it dropped another $17. Not that I’m suggesting any conspiracy here – but then the time zones are implicated. And The Slog did say last week that Friday falls in the past had been followed by further attacks the following week.
Who knows what this means, presages or secretes. However, earlier today I did post a Smoke Signals on the subject of oil-price manipulation. And I did end that piece as follows: ‘So then, that’s the stock markets, the gold price, the Libor rate, and the price of oil being fixed against us….as The Slog suggested quite some time ago.‘
A gold fall in nine hours of $35 isn’t just counter-intuitive in the current global context, it is the equivalent of Manchester United shares halving in price as a result of winning a record 20th Premiership League title.
Our socio-economic lives – and financial resources – are being shafted by a rich minority so tiny, with a minimum of organisation we could round up the lot of them in half an hour….and shoot them all in ten minutes. But on the whole, we’d rather watch Eastenders in the UK. Or Koh-Lanta in France, How To Live With Your Parents (For the Rest of Your Life) in the US, and perhaps even Salvados in Spain.
So it really is our fault after all. Allegedly.