[goldilucky]

Thanks for this post, Publius. I was right all along about the gold market being rigged by J.P. Morgan, Goldman Sachs and others. They are undervaluing the POG so that people like myself will, in despair, sell. Then they raise to POG only to the point that those who can afford to own stock have real wealth. A lot my buddies are investors in gold. I see it rising but I also predict that in order for it to rise, something must happen first. Like a "correction" in the markets.

[Publius]

Then they raise to POG only to the point that those who can afford to own stock have real wealth.

"They" aren't letting the price of gold rise. "They" have no choice. Things got away from them.

First the Howe/Bolser Report was released to the press. The next day Bush fires O'Neill and Lindsay, and an 8 week bull run in gold takes off.

Then "they" raise the margin requirements for gold options trading, thus forcing the little players to cover while "they" hold on to their shorts and dump more gold on the market. "They" force a good correction -- which they hoped would turn into a rout.

Then this Insight article comes out, and for the first time a major reputable publication covers a story that only the samizdat Internet sources covered. Gold went up today, and I believe this story will drive it much farther.

Of course, when the price explosion comes, "they" will blame it on Iraq. You can see what excuses "they" are lining up to avoid a scandal, congressional investigation and jail time. I'll be interested in seeing how many of them board their private planes to head for places with no extradition treaty.