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<p>[QUOTE=&quot;Stewart, post: 1155401, member: 19834&quot;]Jim I think you may have misunderstood what I was meaning to get across</p><p>Not that China and Russia were trying to set up a world currency</p><p>but that they have as of last year set up an exchange to trade directly</p><p>bypassing the reserve currency of the world the U.S. Dollar</p><p>Sorry for not being clearer.</p><p><br /></p><p>Terry</p><p><br /></p><p><a href="http://www.businessweek.com/news/2010-12-15/yuan-ruble-trade-starts-as-russia-china-shun-dollar.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.businessweek.com/news/2010-12-15/yuan-ruble-trade-starts-as-russia-china-shun-dollar.html" rel="nofollow">http://www.businessweek.com/news/2010-12-15/yuan-ruble-trade-starts-as-russia-china-shun-dollar.html</a></p><p><br /></p><p><a href="http://www.chinadaily.com.cn/bizchina/2010-12/18/content_11722196.htm" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.chinadaily.com.cn/bizchina/2010-12/18/content_11722196.htm" rel="nofollow">http://www.chinadaily.com.cn/bizchina/2010-12/18/content_11722196.htm</a></p><p><br /></p><p>Medoraman,</p><p>I Don&#039;t even know where to begin with that one.</p><p>Yes they were caught Red Handed manipulating the silver market.</p><p>Yes there was an e-mail exchange between a gentleman named Andrew Maquire</p><p>and Eliud Ramirez and Bart Chilton of the CFTC in January of 2010</p><p>where Mr. Maquire was warning the CFTC of an upcoming silver market manipulation</p><p>being signaled by JP Morgan Chase. And in real time he walked the CFTC through the </p><p>things that were going to take place during this particular manipulation.</p><p><i>“Maguire understands the process so well that he was able to&nbsp; describe it to the CFTC’s Bart Chilton on the phone in real time. As in:&nbsp; ‘in a few minutes, they are going to do this, and then they will do&nbsp; that.’” And it happened.</i></p><p>I don&#039;t want to load up a thread with a ton of links to video of CFTC meetings</p><p>and stories that broke around the planet in March of last year.</p><p>Here is just one. People interested can find tons more information</p><p>out there</p><p><a href="http://www.itszone.co.uk/2010/04/03/andrew-maguire-exposes-systemic-fraud-by-cftc-and-jpmorgan/" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.itszone.co.uk/2010/04/03/andrew-maguire-exposes-systemic-fraud-by-cftc-and-jpmorgan/" rel="nofollow">http://www.itszone.co.uk/2010/04/03/andrew-maguire-exposes-systemic-fraud-by-cftc-and-jpmorgan/</a></p><p><br /></p><p>And as far as just over selling some contracts that is putting a very politically correct spin to it.</p><p>At a CFTC meeting last year a banking official was caught on tape stating </p><p>that it was COMMON PRACTICE in the industry to sell up to </p><p>100 ounces of gold on paper for every ounce of physical gold in their possession.</p><p>Talk about freaking people out that thought that they actually had real gold </p><p>in an account. The little guys knew very quickly that they would never see</p><p>the gold in there accounts if there was a run to get physical in hand.</p><p>because the well connect big boys would get their physical metal</p><p>first and Joe Six Pack investor would be left with paper.</p><p>Which is coincidentally about the same time that people began wanting physical</p><p>metals versus paper.</p><p><br /></p><p>Edited to add after reading Medoraman&#039;s newest thread addition </p><p>I understand your thinking and you are right the shorts are not proof of manipulation</p><p>The manipulation is a separate and distinct event all in its own.</p><p>two separate things altogether[/QUOTE]</p><p><br /></p>

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