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Eric King Follow Up Interview With GATA On The Trail Of The Biggest Gold Manipulation Story Disclosed

Tyler Durden's picture


The Andrew Maguire LBMA whistleblower story just refuses to go away, and it is about time someone from the mainstream media (yes, we know you read us constantly) finally picked up on this massive expose about the decades of fraud and manipulation in the commodities market, with a focus on gold and silver. Don't worry, the Wall Street ad revenue sources you may lose from highlighting this "must read" story will be more than offset by the increased readership you will gain. Today we have the latest segment in this saga, courtesy once again of Eric King who interviews GATA members Bill Murphy, Chris Powell and Adrian Douglas.As is pointed out in the interview, "The CFTC, on the public record, has been shown to have known in advance of massive market manipulation, and have done nothing." Isn't this the same reason why Markopolos called SEC the biggest bunch of idiots in existence vis-a-vis their performance in the Madoff debacle? It is time someone big blew this up finally. Perhaps this will explain why it never get mainstream attention: "JPMorgan chase is an agency of the US government, rigs the markets, and undertakes market manipulation." To all our readers: this is yet another "must hear" interview.

From King World News:

In this interview with GATA we continue the saga after just having
interviewed Andrew Maguire, the whistleblower out of London. This gives
a short and long-term view down the rabbit hole through the eyes of 3
of the GATA board members.  GATA was so heavily involved not only in
breaking the news at the CFTC meeting about the the metals manipulation
but also at the same time quite possibly uncovering the largest fraud
in history. The Gold Anti-Trust Action Committee was organized in
January 1999 to advocate and undertake litigation against illegal
collusion to control the price and supply of gold and related financial
securities. The committee arose from essays by Bill Murphy, a financial
commentator, and by Chris Powell, a newspaper editor in Connecticut,
published at Murphy's Internet site,  In this GATA
Roundtable we will have Bill Murphy, Chris Powell and Adrian Douglas.

Link to King World News.


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Thu, 04/01/2010 - 09:35 | 282898 mouser98
mouser98's picture

i liked it Juicy, especially the last line lol

Wed, 03/31/2010 - 16:35 | 282186 BDig
BDig's picture

I think the first place you'll see the effects of this story is in the premium that a shop takes above spot.  I went into a local coin shop to see about buying some physical gold coinage. They had their 1 oz gold coins priced about $100 above spot.

I don't really want to hold physical though.  Anyone know a way to get physical exposure?  Can CEF be a good play or because it's exchange traded be manipulated?



Wed, 03/31/2010 - 16:53 | 282214 DoChenRollingBearing
DoChenRollingBearing's picture

Typically I pay $70 - $80 (1 oz. Eagles) at my local coin shop.  Call around, you may be able to save a little bit more.

I would definitely own the physical gold.  CEF better than GLD (they say), but it is still paper.  Just find a good place to hide it, be creative.

Wed, 03/31/2010 - 16:37 | 282191 dot_bust
dot_bust's picture

The only way that any of the markets -- gold and silver included -- will function in
an honest way is for trading to be decentralized. It is our forced reliance on centralized
trading platforms like Arcamax that skews everything in favor of a handful of large, 
powerful traders.

Wed, 03/31/2010 - 16:40 | 282196 tyler
tyler's picture

I thought it was a great interview.  I especially liked the part about the american media and how pathetic they are.  I'm not surprised glen beck, fox news and fox business fits right in line with the main stream media in ignoring this story.  There is no difference between fox and the rest, they are the same.

Wed, 03/31/2010 - 16:52 | 282211 SgtShaftoe
SgtShaftoe's picture

If I were a believer in conspiracy theories I'd say it's almost by design that the red and blue cheerleaders are interchangable.  However I'm not, and I believe it's probably much more simple.  Journalists are primarily, well, Journalism majors... know what I mean?  You don't find math majors and engineers in the media.  Soo, these ideas are, for most in the media, far beyond their little brains' attention span. 

That's my take anyway.

Wed, 03/31/2010 - 16:57 | 282223 Rick64
Rick64's picture

They are not theories if there are facts to back it up, and there are. There is collusion.

Wed, 03/31/2010 - 17:21 | 282282 WaterWings
WaterWings's picture

I believe in conspiracies, not theories.

Wed, 03/31/2010 - 16:46 | 282204 pooplagrande
pooplagrande's picture

Where do the hardcorians buy gold? Where do you store it?

Wed, 03/31/2010 - 17:04 | 282237 boiow
boiow's picture

'goldmoney' and 'bullionvault' are good.

Wed, 03/31/2010 - 17:21 | 282252 WaterWings
WaterWings's picture

You want hardcore? Buried, and not in the backyard, and not just PMs.

Wed, 03/31/2010 - 17:16 | 282267 markar
markar's picture

I buy Perth Mint certificates. Unallocated. It's secure, guaranteed convertible to physical(for a price), and 100% backed by the govt of Western Australia. It's offshore and offshore and can always be redeemed for delivery, or cash.

Wed, 03/31/2010 - 17:19 | 282279 WaterWings
WaterWings's picture

guaranteed convertible to physical(for a price)

I'll beat Gekko to it - LOL!

Wed, 03/31/2010 - 19:23 | 282462 Al Gorerhythm
Al Gorerhythm's picture

I'll second that motion....... Tee Heee.

Wed, 03/31/2010 - 19:59 | 282488 Crime of the Century
Crime of the Century's picture

Where do the hardcorians buy gold? Where do you store it?

I like BullionDirect, they take personal checks and ship to alternate addresses. Behind my Mossberg

Wed, 03/31/2010 - 20:45 | 282522 SWRichmond
SWRichmond's picture

Where do the hardcorians buy gold? Where do you store it?'

APMEX.  Bank of Gaea.

Wed, 03/31/2010 - 21:37 | 282563 pooplagrande
pooplagrande's picture

Gracias Amigos!

Wed, 03/31/2010 - 16:48 | 282206 hamurobby
hamurobby's picture

There are two problems, first obtaining real proof of manipulation is like trying to find life on another planet. Next, it is not just JP and the crimex, but it is worldwide, all fiats have their monkeys. They want cheap gold to make their cash look good, so the only thing that will make it happen is the loss of CONfidence in fiat. 

Wed, 03/31/2010 - 17:13 | 282259 boiow
boiow's picture

the real proof will come out after the 'event' just like any other scandal.

 i'm pretty sure that "the loss of CONfidence in fiat. " is well well underway.

Wed, 03/31/2010 - 17:01 | 282231 RobotTrader
RobotTrader's picture

If there was any bit of truth to this story...

Gold would have been up $100 the last two days....

Way too many greedy hedge funds would have tried to profit from this lead, if it were real.

Wed, 03/31/2010 - 17:08 | 282248 boiow
boiow's picture

i just don't get how people don't believe this story. maybe because we're all waiting for something to happen and this story is too good to be true. but its as true as the sun

Wed, 03/31/2010 - 17:17 | 282268 WaterWings
WaterWings's picture

What's the motivation for lying? It's suicidal as it is.

Wed, 03/31/2010 - 17:19 | 282275 Rick64
Rick64's picture

Its more than likely real, but they probably aren't too worried about it making waves.

Wed, 03/31/2010 - 18:13 | 282382 dabug
dabug's picture

Gold is up 30$ since the story first broke last week, would like to go higher but keeps getting sold during NY office hours... sellers are starting to look desparate during those hours though, maybe something, maybe not but well worth keeping a keen eye on, a bit like your occasional large format pics !8-)

Thu, 04/01/2010 - 09:09 | 282873 dabug
dabug's picture

Up another 10$+ this morning in less than 10mins! was possitioned to buy at 1113 and just missed, surprise surprise!! I mostly trade after 9pm and before 9am but your fellow bots were up early today!!

Wed, 03/31/2010 - 18:16 | 282384 trav7777
trav7777's picture

JPM would vaporize them

Wed, 03/31/2010 - 18:57 | 282442 Camtender
Camtender's picture

Or hit them with a car.

Wed, 03/31/2010 - 19:55 | 282485 Hulk
Hulk's picture

You're a real party pooper Robo..

and you forgot to post a big chick. Least you could do when you poop the party is post a big chick...

Wed, 03/31/2010 - 20:02 | 282490 Crime of the Century
Crime of the Century's picture

If it were real, would it get you to buy?

Didn't think so.

Wed, 03/31/2010 - 21:44 | 282565 SRV - ES339
SRV - ES339's picture


You have to check out all the info Robo... here's a link to the actual emails, real time!

Has anyone heard the CFTC deny the validity of these emails? No, and if they weren't the real thing, they'd be denying it for all they're worth.

Finally, the big funds would be very surprised this got out and, since it has, I'm sure they'd be waiting to see what kind of fix the big boys come up with... and that could go either way.



Thu, 04/01/2010 - 01:32 | 282758 A_MacLaren
A_MacLaren's picture

You may be underestimating the depth of the JPM, Fed, HSBC, BoE, et al crime synidacte's financial wherewithall to keep the market under control.


Wed, 03/31/2010 - 19:53 | 282484 CB
CB's picture

Here's mainstream media's reaction to this story: 

"...LA LA LA LA LA LA LA..." with fingers in their ears.  Followed by:  "...Today, the Dow rose...blah blah blah....and Krugman sez...blah blah blah....and buying stocks are a GREAT idea right now...blah blah blah....the economy is getting better because...blah blah blah...and the people have beer & twinkies...blah blah blah"

Wed, 03/31/2010 - 21:17 | 282543 Fix It Again Timmy
Fix It Again Timmy's picture

Why try to make sense out of any of this - today's financial powerhouses resemble the Grand Academy of Lagado in Guilliver's Travels - you'd be better off analyzing chicken entrails - at least you will get a pot of soup.  KISS, buy gold and silver and wait for things to totally unfold in ways you never could have imagined!

Wed, 03/31/2010 - 21:56 | 282578 Pegasus Muse
Pegasus Muse's picture

Just checked.  Both podcasts work.

Go here: 

Wait a couple of seconds and click on the "snow cone" icon.

Wed, 03/31/2010 - 22:21 | 282607 trav7777
trav7777's picture

Would not surprise me if the CBs were just managing gold higher at a "sane" rate.  Can't have that shit spiking like in the 70s.

Wed, 03/31/2010 - 23:21 | 282665 svendthrift
svendthrift's picture
Sophisticated attack disables King World News site for 2 hours


10:25p ET Wednesday, March 31, 2010

Dear Friend of GATA and Gold (and Silver):

Internet servers hosting the King World News Internet site, which today posted a half-hour interview with three GATA board members, were attacked and disabled tonight from approximately 8 to 10 p.m. ET.

The servers are maintained by one of the largest Internet site hosting companies in the world and one of its technicians told King World News proprietor Eric King, "We cannot figure out why this cluster of servers is being attacked." The King World News site host has maintained the site on a "grid" system of servers so that ordinary technical problems with any one server cannot disable the site, but tonight's attack was sophisticated and brought down the entire grid.

Wed, 03/31/2010 - 23:29 | 282676 monmick
monmick's picture

I few minutes later, and I would have thought this was an April Fool's joke. But I guess it's April 1st somewhere in the world...

Wed, 03/31/2010 - 23:48 | 282692 svendthrift
svendthrift's picture

Yeah, I don't know what to think about any of this.

Thu, 04/01/2010 - 00:07 | 282707 monmick
monmick's picture

Moi non plus...

Thu, 04/01/2010 - 02:06 | 282774 Spitzer
Spitzer's picture

The GATA crew are not lunatics regardless of what you think of their work. The story is true, just watch the market for fuck sakes. Metal went down on the days after the email at the exact time the whisleblower said they would.

Mon, 04/12/2010 - 04:56 | 296116 mark456
mark456's picture

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Fri, 06/17/2011 - 20:21 | 1379168 sun
sun's picture

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Mon, 07/11/2011 - 14:52 | 1444846 hama
hama's picture

I few minutes later, and I would have thought this was an April Fool's joke. But I guess it's April 1st somewhere in the world...
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Wed, 07/13/2011 - 07:50 | 1451017 hama
hama's picture

Si es así, envíanos tus contenidos y muy pronto estarán a disposición de todos nuestros visitantes. está abierta a tus sugerencias y a la colaboración de todos. Entre todos haremos un trabajo más completo.
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