American Bonanza Gold Corp ABGFF

RE: RE: RE: whats going on

[Antennae1]

The dramatic dip in the gold price today could easily be seen as ESF intervention in the market.  They usually try to preempt negative reactions in the markets due to critical international news. They pour money into gold futures in the hope of dropping the price as low as possible before the news has too strong of an effect on wordwide investor sentiment... if gold is weak, then stocks may be perceived as strong in relation to gold, thus propping up other markets.

Yesterday the Greek parliament unilaterally changed the contractual obligations on their bond debt, which means Greek debt must be reassessed by the ISDA to determine if a credit event has occurred.  If the ISDA decides that debt derivatives have been impacted or negated by Greece's parliament, then in effect, it could imply that Greece has entered into default on its debt, which in turn could mean that hundreds of billions (even possibly trillions) of dollars in derivative contracts would have to be unwound.  Unwinding such an incredibly large amount of derivatives would have the impact of a rogue wave event on markets worldwide.