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12-07-2008, 06:53 PM #1
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PhD Economist/Dean of Business School: Gold Prices Manipulat
Friday, December 5, 2008
PhD Economist and Dean of Business School: Gold Prices Manipulated
James Conrad is a PhD economist, professor emeritus of economics and former Dean of the University of Indianapolis School of Business.
Yesterday, Conrad said that the gold market is manipulated. Specifically, he begins an essay on the gold market by pointing out:
There is no other leveraged commodity market where short sellers increase their positions, materially, as the price rises, and increase them even more when prices are exploding, except gold and silver. The reason traders don’t normally do that is that it exposes short sellers to unlimited liability and risk. Yet, in both March and July 2008, and on countless occasions over the past 21 years, vast numbers of new gold and silver short positions were temporarily opened up, with the position holders seemingly unconcerned about the fact that precious metals had just risen exponentially, and that there was a very real potential they would bankrupt themselves with unlimited upside potential. Normal traders would not expose themselves to such unlimited risks.
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