Today James Turk spoke with King World News about a historic event which has just taken place in the United States. Turk states that this situation is not being accurately reported in the mainstream media. He also believes that because of this unfolding drama, “It is all but certain now that the dollar is headed for hyperinflation.” Here is what Turk had to say: “The huge bases in gold and silver are getting bigger, which is very positive, Eric. The only thing the drop in price over the last few days has done is set up a retest of this significant and growing support.
“We are seeing just another example of how the central planners intervene in the precious metal markets by selling paper to drive the price down during month-end option expiry. This maneuver maximizes the profit for their agents - those bullion banks facilitating the gold price suppression scheme – so that the calls they've sold to investors and financial institutions expire out of the money. It also ensures that as many call buyers as possible lose money, which helps the central planners foster a negative sentiment for the precious metals.
"We have seen this time and again, Eric. Contributing to the manipulation is the FOMC meeting this week, during which the central planners like to put a lid on gold and silver prices while they announce their new money printing schemes. And then watch out for Friday when the unemployment report is released, usually a time of wide price swings aimed to trigger stops. None of this is new. But there is something new and important happening in Washington DC. ..."