We’ve seen some significant swings in precious metals over the last several years and if we are to believe the paper spot prices and recent value of mining shares, one would think that gold and silver are on their last leg. Last weekend precious metals took a massive hit to the downside, sending shock waves throughout the industry. But was the move really representative of what’s happening in precious metals markets around the world? Or, is there an effort by large financial institutions to keep prices suppressed? In an open letter to the Commodity Futures Trading Commission First Mining Finance CEO Keith Neumeyer argues that real producers and consumers don’t appear to be represented by the purported billion dollar moves on paper trading exchanges. With China recently revealing that they have added some 600 tons of gold to their stockpiles and the U.S. mint having suspended sales of Silver Eagles due to extremely high demand in early July, how is it possible that prices are crashing?
As is almost always the case, the price of gold was leaned on at the standard PLAN A time in London when The Gold Cartel traders reported for work, but their nudge was thwarted pretty quickly. Gold took off again going into the Comex trading hours and managed to reach $1200 where it was stopped dead in its tracks. James Mc early this morning…
As a frequent contributor to Bloomberg, I would welcome the opportunity to debate this with Barry.
What say you @ritholtz ? : )
The gold price manipulation scheme will go down as the biggest financial market scandal in US history for numerous reasons. They include the destruction of the free market system in the United States.
Well, if you take the US Supreme Court and representatives of the Federal Reserve System at their own words, the case is pretty clear: the member banks of the Federal Reserve System are private corporations / banks.
The Inteligencia Financiera Global blog (Global Financial Intelligence Blog) is honored to present another exclusive interview now with GATA’s Bill Murphy.
Two hours prior to the Federal Open Market Committee (FOMC) release, gold was trading below $1,300/oz but started to gradually tick higher prior to surging higher on heavy volume, minutes prior to the release of the FOMC statement.
FX markets, stock, bond and commodity markets did not see similar large moves.
You're not going to believe this: gold is manipulated. Also, Paul Craig Roberts debunks GDP and lifts the veil off our disinformational gov't
10:23a HKT Thursday, March 14, 2013
Dear Friend of GATA and Gold:
Your secretary/treasurer was interviewed today on "Squawk Box Asia" with Bernie Lo on CNBC Asia in Hong Kong. The interview, seven minutes long, may be notable less for anything your secretary/treasurer said than for Lo's acknowledgement that the gold investment world has been mostly turned into paper and hallucination. So word does seem to be getting around.
On May 10, 2000 a GATA delegation consisting of Reg Howe, Frank Veneroso, Chris Powell and Bill Murphy met with Denny Hastert, The Speaker of the House in the United States Congress; Spencer Bachus, the Chairman of the House Subcommittee on Domestic and International Monetary Policy; and Dr. John Silvia, the Chief Economist of the Senate Banking Committee. We presented each of them our 100 page "Gold Derivative Banking Crisis" document and personally delivered it to the staff of every House and Senate Banking Committee member.
With the Associated Press report appended here, the German gold audit story has just exploded into the English-language press with some important revelations.
Submitted by cpowell on 02:09PM ET Saturday, September 8,
2012. Section: Daily Dispatches
5p ET Saturday, September 8, 2012
Dear Friend of GATA and Gold:
The Russia Today television network reports very high viewership for GATA hairman Bill Murphy's interview Tuesday on its "Capital Account" program with Lauren Lister, and so Murphy urges GATA supporters to send the interview's YouTube link --
Dear Friend of GATA and Gold (and Silver):
GATA Chairman Bill Murphy's appearance today on the Russia Today television network's "Capital Account" program, hosted by Lauren Lyster, has been posted at YouTube here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Smart Money acknowledges its big miss with GATA and gold
Submitted by cpowell on 12:42PM ET Saturday, August 25, 2012. Section: Daily Dispatches
3:40p ET Saturday, August 25, 2012