COMMENT: Mr. Armstrong, I happen to be an anti-trust lawyer. Your piece on the airlines was on point. I am also interested in the precious metals. Recently, one of the “promoters” said you did not know anything about anti-trust. That to me proved these people just say anything and lack the integrity or knowledge about what they write. They convinced me they are only promoting an agenda and that statement proves they lack credibility.
Thank you
SG
REPLY: Well, I did not read those comments and really do not care what those people have to say. I just consider the source. They have preached the metals are systemically suppressed but cannot prove such a theory and attribute supreme power to banks when Japan lost more than $1 trillion trying to support the Nikkei. Not even governments have succeeded with QE. Mixing running stops with systemic manipulation is naive so they make personal attacks on me because they cannot prove their theory. Of course they will attack me now in hopes to pushing the metals higher and confusing people so they do not have to prove their theory or explain silence during the silver manipulation to the upside. That is all indicative of their nonsense.
Price fixing is part of the anti-trust laws; it is nonsense to say otherwise. They make up lies to say that the metals are entirely suppressed by banks and would be 100 times higher if they did not exist. They always talk up a market in which they have a personal interest and that is a conflict of interest. A rally for a few days does not erase 5 years of losses for most people.
Sorry, the Federal Trade Commission expressly states:
Price fixing is an agreement (written, verbal, or inferred from conduct) among competitors that raises, lowers, or stabilizes prices or competitive terms. Generally, the antitrust laws require that each company establish prices and other terms on its own, without agreeing with a competitor. When consumers make choices about what products and services to buy, they expect that the price has been determined freely on the basis of supply and demand, not by an agreement among competitors. When competitors agree to restrict competition, the result is often higher prices. Accordingly, price fixing is a major concern of government antitrust enforcement.
A plain agreement among competitors to fix prices is almost always illegal, whether prices are fixed at a minimum, maximum, or within some range.
