I define a “goldbug” as someone who does not necessarily think that gold is money, but who feels that speculators in real estate, stocks, and bonds have had “their turn” and now it is time for the gold price to skyrocket. Goldbugs and silverbugs have been screaming about “manipulation” for many years. I have written several articles debunking some of their wild claims.
Now there is some good news for the Gold Standard!
The Commodities Futures Trading Commission (a regulator) had been invited in by certain players (i.e. the silverbugs), to interfere with the silver market. It looks like they have decided not to initiate the use of physical force. While silverbugs hoped to get rich by a big “bankster” shakedown, fans of the free market, free banking, the gold standard, and FREEDOM should rejoice!
I have written a number of times about the bogus conspiracy that constantly screams “manipulation” especially when the price falls.
Here is a link to the news about the regulator: http://www.cnbc.com/id/48521012
Keith Weiner is the founder DiamondWare, a VoIP software company, and is a PhD student at Antal Fekete’s New Austrian School of Economics in Munich. He is now a trader and market analyst in precious metals and commodities. He is also president of the Gold Standard Institute USA.
© 2012 by Keith Weiner
Good coverage. Unfortunately it’s 4 days late and relies on a “news” story that has since been superseded by comments from the “regulator”.
“The Financial Times report related to silver is not only premature, but inaccurate in several respects.”
“Whenever the CFTC does take an action or actions related to our silver investigation, I am hopeful that we will do so in a fulsome and transparent manner. That will certainly be my quest in anything we do.”
“I continue to believe, consistent with my previous statements and information from the public, that there have been devious efforts related to moving the price of silver. There have also been silver and gold market anomalies outside of the silver investigation window that have raised, and continue to raise, market concerns.”
http://www.fool.com/investing/general/2012/08/06/cftc-commissioner-bart-chilton-comments-on-the-sil.aspx
I’m not a silverbug, and certainly not by your very odd definition, but I think you owe your readers timely and accurate coverage of events or no coverage at all. This piece negatively impacts the credibility of an otherwise very reputable and informative site.