Asia breaks West's code in gold war, London trader tells King World News
Submitted by cpowell on Thu, 2012-04-05 20:29. Section: Daily Dispatches
4:25p ET Thursday, April 5, 2012
Dear Friend of GATA and Gold (and Silver):
Massive buying of physical gold by Asian government entities is being swamped by massive selling of paper gold by Western central banks and bullion banks that are waging war against the monetary metal, the London trader source of King World News says today.
"Interestingly, the Asian buyers have figured out the algorithms, like breaking an enemy's code in war, and they are using the algorithmic trading to get the best prices each day for physical gold at these levels," the London trader says. "The trading is just taking place at lower levels because these bullion banks and the Fed, which manage the price of gold, get overzealous in their price fixing."
He adds that the naked short positions in the metals are "unimaginable."
An excerpt from the interview is posted at the King World News blog here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Gold Anti-Trust Action Committee Inc.
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