GATA has released emails a London trader sent the CFTC. http://gata.org/node/8466
Very powerful stuff. I doubt changes will be made.
Given that the OTC market (where a lot of the selling occurs) runs on a fractional reserve basis and is not backed up by 1-1 physical gold, this leveraged short selling, where ownership of each ounce of gold has multi claims, poses a very large risk.
interesting…