Sony President Ryoji Chubachi may be denying any Playstation 3 price cut, but that's not stopping the retail moles from saying that they're true.

The $100 price drop started yesterday when a Circuit City ad surfaced saying the PS3 was going to be selling for $499. Then GameDaily confirmed with "a merchandising manager at one of the world's biggest retailers" that the price drop was true.

Today we've received word from moles at both Best Buy and Target that they too have word of a price drop. Our Target mole reports that the retail chain's inventory tracking program is listing retail for the 60GB PS3 at $499.99. And a mole at Best Buy tells us they just received their upcoming ads and that they all list the PS3 price at $499.99 as well.

Great conspiracy? Lots of lying moles? A fact-spinning Sony president? Only time will tell.

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