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overtheedge
Member since May 2012
680 commentaries - 6 followers

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has posted a comment on the article :

So what if all markets are manipulated? This is what

- Chris Powell - GATA

"... undemocratic ..."
Last I looked not even the root word exists in the Constitution. Republic does exists and the guarantee to defend it.

And the "why the secrecy over market manipulation?"

Let's take a stroll down "time lane" to 1958 or so. You wanted to buy a house. You went with all your papers to the bank where after close inspection, the loan officer said, "Okay to a limit of $2700."

The bank made you put up a 25% down payment. As this was before the great bank consolidation, the moneys on deposit was local money. The bank had every reason to do it's best to maintain a stable to slowly growing market. Houses go to high too fast, customers go away. Drop and the collateral valuation goes with it.

So why? Psychology. The mark is adamant about believing they are more clever than the market. Let the mark believe what they will. Banks need customers. So be it gold, real estate or used cars, don't force the buyers to realize that until it is paid off, the bank is your senior partner. Psychology, it ain't just about looking for the soul anymore.

Commented 4221 days ago

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Beginning of the headline :Our pal D.M. conveys the following disparagement from a friend -- call him Doofus -- and asks for a reply: "Central banks manipulate far more than just gold -- interest rates, stock markets, housing markets, etc. That's what they do. And so what? The gold price has gone up for the last 12 years, despite the 'manipulation.' So I don't see what's the issue. Even if Western central banks try to sell gold down, Eastern central banks are only too happy to accumulate at lower prices." ... Dispatch co... Read More

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