After the 1999 gold crisis, bankers could no longer force the price of gold lower by loaning central bank gold and selling it in the open market. In 2001, as demand—and the price of gold—rose, the bankers were forced to flood markets with discounted ‘paper gold’, gold futures, i.e. paper promises of future gold deliveries at lower prices, in order to contain gold’s rising price.

GOLD’S CONTROLLED ASCENT: 2001 – 2011
The bankers sold their paper promises of cheaper gold on COMEX to contain gold’s rising price in an acceptable range for the next ten years, i.e. a controlled ascent, with two notable exceptions. The first was the 2008 global economic collapse. The second was the euro zone sovereign debt crisis in 2011.

In both crises, the price of gold began to rapidly rise, breaking above the bankers’ control at A and B (see gold trendline chart); when increasingly fearful investors turned to gold signaling that a severe financial crisis was underway; a signal bankers’ feared could destroy confidence in their lucrative and long-running ponzi-scheme of credit and debt. 

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