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
Governments Don’t Manipulate the Price of Gold … Do They?
Attempts to manipulate free markets invariably end badly - after all, they are, supposedly, by their very nature, free. Over the past few weeks, the exposure of the Libor-rigging scandal has monopolized the headlines of the financial press. The rather obvious implication being that given almost half the reported inputs that help establish the Libor rate are discarded immediately, Barclays simply CANNOT have manipulated the Libor rate alone. Period. At best this is a cartel, at worst it’s outright fraud on a scale that is completely unprecedented. In Grant Williams' humble opinion, the Libor scandal will mark a fundamental change in the treatment of financial conspiracy theories in the media. The sheer amount of coverage it will undoubtedly receive will signal a shift in attitude towards the exposing of such scandals rather than the blind-eyes that have been regularly turned in recent years. Prime amongst conspiracy theories that may soon be finally proven to be either valid or the figments of overactive imaginations, are those alleged in the gold and silver markets. If the long-stated claims about government-sanctioned, bank-led manipulation of precious metals markets are eventually proven to have any validity whatsoever, the fallout from the Libor scandal will prove to be (to use the words of Jamie Dimon) just another “tempest in a tea pot” as the precious metals are the very underpinnings of the entire global financial system.
Gold may have its worst week in 2012 as it is currently down 3.5% for the week in dollar terms and nearly 3% in euro and pound terms. However, gold is still higher so far in June and the fundamentals suggest we have bottomed or are very close to a market bottom prior to a summer rally.
However, further short term weakness is possible as speculators go to cash and support is at $1,540/oz (see chart above).