Futures markets keep precious metals prices depressed
By GCRU Gold News on Monday, October 27 2014, 22:17 - Permalink
The premise, according to Murrell, is as follows: “The West (America & Europe) produces very little of the commodities that they need and consume, but have managed to more than compensate for this by having both a printing press (to print trillions of paper dollars on demand) and a futures market with which they can set the price of the commodities that they want, in the currencies that they print.
“On the other hand the producing countries, which actually own the resources, are forced to sell their commodities to the West at the prices – and on the terms – dictated by the futures markets. In other words, since the inception of futures markets in the West, the poor producing countries have been forced to sell their scarce and valuable commodities in exchange for the West’s freshly printed paper.”