Prices were driven lower again today, fueled by another margin hike that predictably led was Spec liquidations. It's the same old trick that worked before and has worked again.
So we spend some time today discussing how and why this works to the advantage of the bullion bank shorts. We also discuss the history of the technique as a way of "tamping" price. But this isn't 2011 so we're unlikely to get the same long-term result. Instead, after painting the charts and buying some time... similar to December-February ...The Banks will soon be forced to allow another up move.
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