After seeing this article on the backwardation of gold prices it now seems that the mainstream have picked up on the story:
The gold backwardation theory
Checking in today and backwardation is still in place. At 1430 GMT Tuesday December 9 spot gold was trading at some $768 while Comex futures were at 766.40.
No small call, Fekete is essentially calling the end of the fiat-dollar system - just as the US Treasury sells 3-month bills at the lowest level since 1929, and CDS spreads on sovereign debt continue to wander - hmmm does he have a point?
It certainly sounds like the talk of conspiracy theorists.
Except that this article was written for the Financial Times!
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