ML-Implode News - China, gold prices & US default threats

This past April 10, the heads of the five largest US banks, the Wall Street â€˜Gods of Money' -- JPMorgan Chase, Goldman Sachs, Bank of America and Citigroup -- requested a closed door meeting with Obama at the White House. Fifteen days later, on April 25, the largest one-day fall in history in gold took place. Later investigation of trading records at Comex revealed that one bank, JP Morgan Securities, was behind the huge selloff of gold derivatives.
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the recent buying of gold reserves by several central banks including Russia, Turkey and especially China, are notable. The short-term derivative gold price manipulations by JP Morgan and Goldman Sachs are creating smiles at the Peoples' Bank of China and the Russian Central Bank among other buyers of physical gold. Since 2006 Russia's central bank has increased its gold reserves by 300 percent.

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China, gold prices & US default threats - William Engdahl