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Sunday, August 29, 2010

Gold 2008! JP Morgan Fixes Prices and the Saudis Snag 180 Tons, Cheap

Wow! The Saudis got a bargain! Gold was down 30% right when it came time for them to start diversifying their oil portfolios. Obama had just been elected signalling the rise of the nuclear power and alternative energy industries in the US. The banks had collapsed. Mortgages were in default. Carlyle’s investment group was in debt. The U.S. dollar was circling the toilet. Where and how did the Bush family’s bosses in Saudi Arabia find that much gold for that kind of price?'

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