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Economy
In reply to the discussion: STOCK MARKET WATCH -- Monday, 24 September 2012 [View all]Po_d Mainiac
(4,183 posts)14. Ag
At 9pm EST, paper contracts totaling over 1/2 of total US yearly production were dumped on one of the Asian exchanges over the coarse of 5mins.
There was a similar event at 10am EST Friday over a 15min span.
That's over 1 year's US production dumped on the market!
Someone desperate for capital?
Someone trying to avert a short squeeze?
Manipulation?
Dunno since most of this occurs OTC and in the shadows, but 30% of the slack has already been picked up. Hmmm?
Currrent ratio of world production Ag:Au is approx. 10:1. Current trading is approx 51:1. Current ore production is on par with industrial consumption with recyling covering the jewelry/investing markets.
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Feast of Fools How US Democracy Became the Property of a Commercial Oligarchy By Lewis H. Lapham
Demeter
Sep 2012
#3
Somebody dumped a lot of paper (ETF's) to depress the gold and silver markets.
westerebus
Sep 2012
#31