john embry and others commented on the market manipulation at the silver summit:

"Concerning silver’s unforeseen dive from $19/oz to below $12 in a matter of weeks and the events outlined in Ted Butler’s expose “The Smoking Gun“, Embry railed against attempts to rationalize the huge decline that has caused many to point at the rise of the US dollar during that period and the unwinding of short dollar long commodities trades by leveraged hedge funds and others. “Now to be fair,” he said, “I agree to extent that this phenomenon should have led to a correction in the precious metals. But to have triggered an outright rut strains credulity.”

Embry urged the audience to question whether or not they believe that the underlying fundamentals for the US dollar have improved enough to constitute a stronger dollar: “Does anyone truly believe that a country whose housing, automotive and airline industries are in a state of collapse, whose banking systems are in a shambles, whose retailing industry is sharply retrenching, and whose consumers are being eaten alive by rampant food and energy inflation while unemployment mounts, is actually growing?”

All of this price manipulation cannot be good for the gold and silver mining industry. But, what can they do about it? Embry received a fervent and boisterous round of applause when called upon industry executives to “get off their collective assess” and come together to combat the collusion occurring amongst the large financial players who are in effect destroying the industry."

http://www.silverinvestingnews.com/4...