From the KRY Agoracom site.   I keep an eye on it to see what is going on in neighbouring Venezuela.
************************

What an expert says about gold stock manipulation

Posted On: Wednesday, December 05, 2007, 1:34:00 AM EST

The Fix Is The Close

Author: Jim Sinclair
 

Dear CIGAs,

If you watched every tic (as I do) in order to speak to you on gold and related shares you would know that what you read as the close on any gold shares is a cartoon drawn by the system which is set up to skin the public at the lowest possible cost devoid of risk. You can watch 80,000 shares traded to close on late exchange trades booked to benefit the third market, specialist or fund position. Yesterday and today took that to almost a spiritual level, making every chart, most certainly Japanese Candlesticks, a total cartoon. The push from this malevolent market element is on the downside as gold rose. Clearly they are short up to their eyeballs across the board.

Nothing can change the system. I spoke to one of these pros to hear him explain why the deviation from the real close to a low volume trade booked on an exchange floor was down the entire range of the day when in fact it closed at 4PM at the high of the day. The late trade was a 3500 share sham while trading up to the 4PM close was tens of thousands of shares. His explanation was so lame that all I could reply was “Who do you think you are kidding? For 35 years I was a market maker so don't try and screw me around. What you did was too obvious to be denied. You booked a sham trade at a sham price to benefit your position.”

It could be that another bubble is about to break. That is the hubris of the GS types and the professional pocket pickers of gold investors. A system rendered to protect the pro, not the public, has made TA a structured fabrication. The close is not the close, many times to the extreme between high and low of the day.

The only way they can compete with a real risk taker is to cheat in the most obvious manner.

A great part of the weakness in gold shares comes from a system that is designed by the pros to protect the pros and screw the public. No pro makes money on merit anymore. The game is rob, bilk and steal in market making and peddle BS structured products.

One of the hate mails from the recent storm that has occurred over the past two weeks came from a certifiable nut job saying among many other things that I live in the past. That part of the rant I accept as a great compliment.

All this will fix itself and the cheats as gold moves to $1050 and then on to $1650.