Another day, another Fed and bullion bank intervention

Interviewed today by King World News, Sprott Asset Management's John Embry discusses another smash in the gold and silver paper markets by their "manipulators," the bullion banks:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/2/29_Em...

Market analyst and gold mining entrepreneur Jim Sinclair writes that today's action in gold is an "intervention" functioning as "window dressing" camouflage for more "quantitative easing" by central banks:

http://www.jsmineset.com/2012/02/29/todays-window-dressing-fall-in-gold/

And MarketWatch quotes Richard Hastings of Global Hunter Securities as saying today's comments by Federal Reserve Chairman Ben Bernanke may have been "designed to take out some of the inflation in the industrial and commodity side of the markets right now, since the Fed does not want inflation to creep up and threaten its ultra-low rate policy at this time":

http://www.marketwatch.com/story/gold-futures-inch-higher-in-electronic-...

That is, more market manipulation by the Federal Reserve, market manipulation being, as GATA has been noting for many years, central banking's reason for being:

"And so we have come to an era of daily market interventions by central banks -- so much so that the main purpose of central banking now is to prevent ordinary markets from happening at all." (http://www.gata.org/node/6242)

Well, at least this manipulation and intervention are being acknowledged in public more often now. But don't ask GATA when they'll end or when foreign central banks and sovereign wealth funds will pull the plug on the operation by dumping U.S. government bonds and buying gold and commodities all at once. That portfolio rebalancing has been happening gradually for a long time, the plug will be pulled only when those foreign central banks and sovereign wealth funds consider themselves fully hedged, and they won't be tipping us off the night before.