NEW YORK (Kitco News) -- Former Congressman (R-TX) and three-time U.S. presidential candidate Ron Paul says the current market situation is acting 'strange.' The market condition Paul references is called backwardation and it occurs when the spot price is higher than the futures price. This is generally favorable for investors who have long positions since they want the futures price to rise. The reasoning behind the current market condition? Paul said it comes down to manipulation.