Hi Scruff!

I think on this forum we know and understand that the COMEX is manipulated and fruadulent. However we are in a tiny minority. I mean just consider how people react to the discussion on whether there is a PPT at work. Hell, Paulson has even admitted that on national television, disclosed in plain English that one of the ways employed to shore up market 'stability' is to have direct market support from the working group on financial markets. He said that right on CNBC, but then a few months later we have to watch the bozos laughing off the concept. If people are not even willing to consider that the PPT is at work, then how much further is it a stretch for the mainstream to appreciate that we have direct intervention in the metals trading, contrary to antitrust laws and in direct conflict with the concept of free markets.

What we know and understand is one thing. When the rest of the market finally begins to wake up and understand what is going on is another. As soon as people can grasp that we are in a phoney managed market, then behaviour will change and the scam will lose its effectiveness.

Just consider that during the last 2 months, while gold has been relatively strong, the majority of the comments in the media have suggested that gold has lost its safe haven status in this crisis. If it was widely acknowledged that manipulation was underway to cap gold, then the commentators would probably not be making gold-bearish statements.

The dwindling open interest at the COMEX is a sign that people are waking up. The strong demand for all forms of physical bullion is another strong signal that people are not being fooled by the price suppression. Once an illusion has been shattered, it will never again trick people into making the incorrect assumptions. For example, just 15 months ago, people were under the strong impression that real estate could only go higher. Now contrast the widespread beliefs held by the majority today. I think the same transformation is coming for how the majority perceive gold, and the integrity of the metals trading markets. We may be on the leading edge of that right now...

cheers!

mike