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Guest Post: The Real Message From The VanEck GDXJ Mess
Via Kevin Muir of “The Macro Tourist” fame
In what seems a lifetime ago, I was the equity index trader at a big bank on Bay Street. Although a lot has changed since then, there are parts of the game that are timeless. So I am putting my old hat back on to analyze VanEck’s recent problems arising from the success of their GDXJ ETF (Junior Gold Miners). And lest you think this will be a boring ETF specific piece, I urge you to suffer through the details as I believe the market is missing
Both gold and silver are under siege almost every day by central banks and a wall of paper shorts. Read http://silverseek.com/commentary/secret-and-illegal-agreement-16507 and http://www.gata.org/node/17081 It”s been going on a long time.
And this:http://www.reuters.com/article/us-deutsche-bank-fed-forex-idUSKBN17M2MK