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“Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason.
Coming up Chris Powell of the Gold Anti-Trust Action Committee joins me and updates us on the recent developments in the gold and silver manipulation prosecutions and discusses how the price spoofing schemes by the bullion banks may be tied to trades by central banks working to keep a lid on prices.
Chris also explains why he thinks the “powers at be” are losing control of the price and how the recent positive price action in the metals markets suggests they have lost some of their influence in the markets. So be sure to stick around for a jam-packed interview with Chris Powell of GATA, coming up after this week’s market update.
Well, another week, another new and expanded repo market intervention by the Federal Reserve. On Thursday, the Federal Reserve Bank of New York intervened twice with fresh liquidity injections. Fed officials raised their offerings for overnight repos up from $75 billion to a staggering $120 billion.
This comes on top of the $60 billion per month in Treasury bill purchases that will extend well into next year and possibly beyond. Over the past month alone, the Fed’s balance sheet has soared by $200 billion…”