How can they cap gold now that everyone knows it's pump ad infinitum???
What the feds like to do is play coy like they might reverse QE, and try to #$%$ gold lower. How the heck can they do this with a straight face going forward? I'm sure, minus some capping today, gold would have been up even further. The general rule still holds, when gold deserves the most to go up, that is exactly when they cap the hardest. They actually used to hit gold in the past, but now they can only cap it to some degree.
For anyone who thinks they can cap it forever, think again. The game is over essentially except for short term maneuvering. Once the physical market dries up, which it must if China wants to hoard so much going forward, they can't cap it anymore. The backdrop of central bank gold purchases basically will overwhelm the paper market. What's to stop China from buying in the futures market and then asking for delivery? Aside from this, China is setting up its own futures market, so gold price fixing will not be allowed, unless you believe the West controls China, which they don't.
Today's more like the Fed/Treas/ESF/bullion banks that we know and love. At gold's most bullish news, they smother it with paper gold. What happens when the paper trick stops working though, and you have all those IOU's from gold leasing, etc? If the world catches on, the paper is worthless.
Meanwhile, back at the reality ranch, China gets to buy more gold on sale, subsidized by Western bullion bank folly. Such a deal for America.
Yahoo is really becoming big brother these past couple years. In the above first paragraph, they actually replaced the word #$%$" with #$%$. Now #$%$" is clearly a legitimate word. What the heck. I might expect this in China, but not here ... at least not till lately. This is a first for me.
And this policy of not allowing any links is going to drive users away from yahoo, not towards them. Way to shoot themselves in the feet.
If it's one thing that drives me crazy is being PC to the nth degree. Too bad. I've always liked Yahoo.