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7 aaa More bu rita HENit comes to investment conspiracies, gold is always up there with the best of them. ‘But as Mel Gibson's portrayal of unstable tax driver Jerry Fletcher in the movie Conspiracy Theory showed. theres always that {ntriguiag possibility that those who Appear erazy enough tothink people ‘are out to get them could be teling fhe truth, Certainly the gold bugs are coming out ofthe woodwork tobite at the bmioment after some compelling Feeent testimonytothe US Commodity Futures Trading Commission (CFTC) was folowed by lamysterious hit-and-run ear crash ‘andsome equally strange internet outages. ‘The subject ofthe hit-and-run ear «gash —Vondon metas trader Andrew Maguire thankfully Survived the aceident but his fvidence and that of Gold Anti: Trust ‘Action (GATA) committee member ‘Adnan Douglas has been given extra credence thanks tothe conspiratorial vents that followed ‘Maguire provided detailed aceotints of what he called rigged tradingin the silver market tothe CFTCin asenies of emails before he And his wifehad their close encounter witha hit-run driver, GATA’s baste position is thatthe price of gold and lver i being kept itificialy ow through massive short positions held by large bullion fraders including JP Morgan and Goldman Sachs Other traders have svoffed at such a suggestion, saying thatthe short positions are simply hedges used by ‘arge bullion traders to protect the ‘alveofthellong-termgoidholdings — Gold elas: Mol Gibson's justified paranoia in Conspiracy Thoory could be imitating real ife forthe LBMA eu} rat Pet R CI eCopt Llores Cee ELLY Rec SE ec orc CeCe | uol ‘owever theca thathasrealy = coouhigeidinie word obeckip wim saben uneethe hens "aad fuaetin the misedngy-eamed atich Colndges ain etch tae yea maret bat justied he goa rice ~isthat muck of the paper” trading on he bass that it ‘dein fold around the words tusbeen gongs frgenrsondise per ged that wot backed by See ‘eal en cassdinaue, The gold market atherthan demand rian Doves cated tat the fndeuppiyofthe metal «don Bolts Market Avgelation : “EBMA) “phyeical market in golds I One trader —CMB's John Lothian Seed oli ofthe Kd, ws st — Sha those peddling the dea old site tendebaceed by pape raher | sdsivermancetsbsingeweats Sanpeoutoewold bere Eeeppaceslow were “neihig more rents troupes is Sab fomclycproreaisscet voniirprt gigtangegicen sien ant Poaat shea, with eee =the are parastes on the body Sacked bya"factonal reerve™ publleproiing fom ein en an {mount of gold wnieh let every (00 ounces ofthe precious metal >acked by just one ounce orless of ‘Seeking polities enange that will ‘benefit their world view and related he real thing available vaults or produced bythe _™arket position.” "Thepoint being that, feveryone World's gold mines. Most ofthose trading the world temanded the piysiealgold backing He put thevalue ofthe gold trades gold market would probably agree ‘helrplece ofpaper atthesametime, ontheLBAMAa at $USS.4trilion ayear, with him but iis intriguing to hhereisno prospect ofthem getting, Orhalfthe size ofthe USeconomy"" ponderthe consequences if—like Douplas hither claimed thatthe withanet sOmilion ounces ofgold Mel Gibson's Jerry Fletener before ‘xplosion ofgold trading in recent Deng traded each day. them —someonereallyis out to get ‘earsnow totaly dwarfed the Othertradersat thehearing agreed Adrian Douglas and Andrew ‘mount ofthe precious metal ‘withDouglasthat there wasnot.-Macgulre.