Zerohedge Shows Its Ignorance Twice Today

Earlier today Zerohedge announced in marquee lights that AIG manipulated the metals markets. They acted like they unveiled the splitting of the atom. Those of us who have been involved in this market for this past decade and who support GATA, have been aware since at least 2002 that AIG has been, was, one of the main manipulators in the silver market. All of the evidence has been there for those who cared to understand the facts.

Second, Zerohedge is blaming today's action in gold on "asset liquidations." Today was not about asset liquidations. Today was about Gary Gensler and the CFTC letting the bullion banks, who have manipulated the markets unfettered for the past 20 years, run riot with a paper selling avalanche that triggered black box hedge fund stop-loss orders.  Today was a classic drop in gold that was triggered by an avalanche of selling exactly at the open of Comex trading. This trading action has occurred almost every day over the past two weeks and 100's of times over the last 9 years that I've been trading this market. It is criminal and enabled by a Government that enables widespread fraud and corruption. Here's the chart:

(click on chart to enlarge)

I guess the pundits would say that today's action was coincidental to the fact that Comex is edging closer to a condition of defaulting on its physical gold/silver deliveries...

Zerohedge is a good source for intel on a lot subjects.  The precious metals market is not one of them.