Precious Metals Market Manipulation? by Doug Casey

Here are some questions I'd like answered:
Q: Why do these banks (JPMorgan, etc.) even give a damn, in the first place, what the price of the metals might be?
The only reason that makes any sense is that they are acting as proxies for the US Treasury; the Treasury doesn't go into the markets itself. But does it direct a commercial bank to act for it to buy or sell gold? It might. But there's zero proof of any sort it's doing that.
These banks have no dog in the fight; they couldn't care less what the metals prices are and have no reason to try manipulating the market.
Q: Why has there been zero word from their traders about how stupid their bosses are for fighting a gigantic 10-year bull market? These guys all know each other, and they gossip with the same delight as teenage girls.
It's hard to keep a long-term illegal collusion a secret. Two parties might possibly be able to keep a secret. But six or eight commercial banks acting in broad daylight? It's said that three individuals can keep a secret, but only if two of them are dead. But for a half-dozen trading operations to do so? Wall Street is the world's greatest rumor mill. But there's never been a rumor (outside of those created in conspiracy circles, who offer no sources) that the bullion banks are acting, in concert or individually, as agents of Timmy Geithner.
Q: If, as alleged, these banks have been short gold from the bottom of the gold bear market at $255 in 2001 and the silver bear market at $4.25, also in 2001, how can they possibly absorb tens or hundreds of billions of losses? Did they expect to take the metals to a fraction of their 1971 lows?
Trading desks make mistakes. But they don't stay short in one of history's great bull markets – it's not the way traders earn bonuses. How stupid are the supposed "not for profit" sellers of gold supposed to be?
Q: Exactly where and how do they supposedly get the capital to cover these losses? Haven't they ever heard the old saw, "He who sells what isn't his'n must give it back or go to prison"? No bank can tie up billions in capital fighting the market for a decade.
Q: Exactly who originated this idea of trying to suppress prices using the futures markets?
Here a well-known writer on this subject suggested the following to me, via an email, when I asked: "The big commercials, starting some 25 years ago, discovered they could dominate the market and force technical traders in and out of the market when they wished at great profits to the commercials. But they miscalculated and stayed in too long, and now they are trapped."
read full article here Precious Metals Market Manipulation? by Doug Casey