# China says US manipulating gold market.



## BillS (May 30, 2011)

Before It's News

US embassy cable - 09BEIJING1134

If we assume that the cable is authentic then the question still needs to be asked: how is the US gov't manipulating the gold price? If you sell gold in large enough amounts it can create a temporary panic on the gold market. It's rumored that George Soros did that a few months ago. But other than that, how would the gov't manipulate the gold price?


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## TheAnt (Jun 7, 2011)

As you well know we are definitely manipulating the dollars value. This affects golds valuation in dollars. Gold price manipulation has to be valued in something -- if we are talking dollars than manipulation of either side of the equation (the gold or dollar side) makes for a bad equation. Does that make sense?

In other words the gold price COULD go up in dollars and down in euros. This causes inflation of the dollar and deflation of euros (or do i have that backwards?) but eventually Gold still buys the same thing -- basically the same with silver. The only way to manipulate Gold is in relation to some fiat currency and I would think it would be in our interest to make our dollar worth so much that we could buy an ounce of gold for a dollar then we could buy all the gold... makes sense to me.


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## The_Blob (Dec 24, 2008)

didn't China do the same thing with both silver and gold about a decade ago (2003?) by flooding the market with what they had been hoarding (undereporting?) for years?


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## TheAnt (Jun 7, 2011)

The_Blob said:


> didn't China do the same thing with both silver and gold about a decade ago (2003?) by flooding the market with what they had been hoarding (undereporting?) for years?


I say let whoever wants to flood the market with gold and silver do so. The lower the price the better for whoever is smart enough to be buying.


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## The_Blob (Dec 24, 2008)

TheAnt said:


> I say let whoever wants to flood the market with gold and silver do so. The lower the price the better for whoever is smart enough to be buying.


I'm not sure exactly what the shennanigans exactly were, but at the time it smelled fishy... China dumped & made a fortune (even for a superpower) temporarily destabilized the market and *somehow* (and this is the part I do NOT understand how it could be legal) managed to buy back all of what they dumped (because of some statute that only applies to governments?) *after* the price dropped thereby making BILLIONS of <<insert fiat currency here (probably $$$)>>  I was in Europe at the time & remember watching an inflamatory news piece about how China & The U.S.A. were splitting the planet down the middle (implying that the U.S. was 'in cahoots' :dunno: ).


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## BillS (May 30, 2011)

I suppose if you sell a large amount of gold when the price is at peak you can always buy it back after it drops a hundred or two per ounce. Then you can do the same thing again later.


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## TheAnt (Jun 7, 2011)

BillS said:


> I suppose if you sell a large amount of gold when the price is at peak you can always buy it back after it drops a hundred or two per ounce. Then you can do the same thing again later.


Only if folks are dumb enough to sell. I think the problem here is that so much gold and silver is bought that is not physical. They can drive down the price of real gold and silver by doing these sorts of things with paper gold and paper silver without ever actually having enough real gold or silver to trade with.

In the end gold and silver dont go up and down. The currencies we value them in does.


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## RevWC (Mar 28, 2011)

I prefer food, water, ammo, and not necessarily in that order, over gold and silver. Oh yea and Beer. :beercheer:


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## becky3086 (Aug 6, 2011)

I agree. Especially to the beer. :congrat:


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## partdeux (Aug 3, 2011)

every attempt to "control" PM (or any metal) price has ended in a disaster for the party attempting control.


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## ComputerGuy (Dec 10, 2010)

RevWC said:


> I prefer food, water, ammo, and not necessarily in that order, over gold and silver. Oh yea and Beer. :beercheer:


I make my own beer, so I get junk silver, and bullion


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## Viking (Mar 16, 2009)

GATA, Gold Anti-Trust Action Committee has been fighting precious metals price manipulating. COMEX which is a Designated Contract Market is one of the known market corporations often causes extreme gold and silver price fluctuations through increasing minimum amounts of needed to buy contracts. Truth be known, the inflation adjusted price of gold in relation to the high of 1980 should now be around $2,500 to $3,000. Perhaps the value of gold should be even much higher in relation to the devaluation of the fiat dollar against what the truly gold backed dollar was prior to 1913 when the Federal (NOT) Reserve (NOT) Bank (PRIVATE), was formed. That figure stands at about 2 cents. Anyway, that's my 2 cents!


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## Meerkat (May 31, 2011)

I hear china has gold all over the place,caves full of the stuff. If this is true then they are mad because they know if they flood the market price will fall.


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## Viking (Mar 16, 2009)

Meerkat said:


> I hear china has gold all over the place,caves full of the stuff. If this is true then they are mad because they know if they flood the market price will fall.


China has made it legal for it's citizens to own gold and a great deal of the population is because they realize the intrinsic value against fiat moneys. As a people they are also savers, in many cases well over 10% as to America's 5% or less. They realize that if paper money fails whatever new currency comes about can be bought with gold or silver, if the old failed paper were to be used it would only get pennies on the dollar, perhaps even less. China is a net buyers of gold and silver as well as other precious metals, they do not sell gold or silver to other countries. Like many nations a great deal of a countries stores of gold are supposedly stored in a London bank. Many nations are now wanting to repatriate that stored gold to their countries central bank. Since we have such a global economy if our currency fails many other nations will follow, the PIIGS nations first, but with all the fiat money that is floating around there would not be enough gold or silver to cover the failed monies. So more than likely the value of gold and silver will rise far more than one would think possible.


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## Meerkat (May 31, 2011)

Viking said:


> China has made it legal for it's citizens to own gold and a great deal of the population is because they realize the intrinsic value against fiat moneys. As a people they are also savers, in many cases well over 10% as to America's 5% or less. They realize that if paper money fails whatever new currency comes about can be bought with gold or silver, if the old failed paper were to be used it would only get pennies on the dollar, perhaps even less. China is a net buyers of gold and silver as well as other precious metals, they do not sell gold or silver to other countries. Like many nations a great deal of a countries stores of gold are supposedly stored in a London bank. Many nations are now wanting to repatriate that stored gold to their countries central bank. Since we have such a global economy if our currency fails many other nations will follow, the PIIGS nations first, but with all the fiat money that is floating around there would not be enough gold or silver to cover the failed monies. So more than likely the value of gold and silver will rise far more than one would think possible.


 I listen to talk radio and read conspiracy sites that I can upload.I hear gold could go up to $3000 or more.


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## BillS (May 30, 2011)

The price of gold will continue to rise as the value of the dollar falls. When we have hyperinflation the price of gold will reach a billion dollars an ounce and still go higher. Zimbabwe was the first country in the world to print a 100 trillion note. At some point the US will follow.


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## drifter0069 (Jan 6, 2011)

i have read alot of the wiki leaks cables and this one doesnt have the same format or wording as the other cables. Not sure if i would take this as factual. But who am i......


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## The_Blob (Dec 24, 2008)

Viking said:


> As a people they are also savers, in many cases well over 10% as to America's 5% or less.


Do you mean that over 10% of Chinese save as opposed to 5% of Americans, or do you mean Chinese typically save over 10% of what they make as opposed to typical Americans only saving 5% of what they earn?


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## Viking (Mar 16, 2009)

The_Blob said:


> Do you mean that over 10% of Chinese save as opposed to 5% of Americans, or do you mean Chinese typically save over 10% of what they make as opposed to typical Americans only saving 5% of what they earn?


Typical saving % of wage earners income. I don't know if farm income was included but from what I understand from the studies I've done, for a population that has a very low income level, overall the people understand how important savings can be. Here in the USA we tend not to save but rather buy whatever the latest trend is, clothing, vehicles, cell phones and etc., savings be hanged "I want what I see, NOW!"


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## danerogers (Apr 30, 2011)

drifter0069 said:


> i have read alot of the wiki leaks cables and this one doesnt have the same format or wording as the other cables. Not sure if i would take this as factual. But who am i......


Drifter, I think you are onto the truth!!!!!


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