by Dr. Jeffrey Lewis, Silver Seek:
World silver spot prices are determined by a once sacred, but now inept, process. While the evolution of futures contract for the modern age helped facilitate the industrial revolution, it has now been completely usurped and abused. This is especially the case in gold and silver, even to the point where confidence in this market threatens to turn the world financial system upside down.
The Heart of Darkness
For now, world price discovery for precious metals resides at the COMEX, owned by the for-profit Chicago Mercantile Exchange (CME).
It is here where the spot price is determined and the heart of technical analysis is controlled.
