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I will never forget the name "Gavyn Davies!"
Today, at LemetropoleCafe.com, I was honored to post an article titled "Will central banks cancel government debt?" by Gavin Davies .
Goldman "Hannibal Lecter" Sachs used to be the visible ringleader of The Gold Cartel. They have since disappeared from the gold price suppression scheme totally, at least as far as this eye can see.
But, from my perspective back way back when, referring to Goldman Sachs as "Hannibal Lecter" was being kind. They were relentless in their manipulation of the gold price encouraging the foolhardy, politically connected gold companies such as Barrick and AngloGold to hedge their forward gold sales.
How did that work out? Don McConvey, their hedging director, took a bullet for the team and was fired.
Barrick and AngloGold ended up taking something like $18 billion in futures losses when they decided to cover their Gold Cartel induced hedges. Nice, eh? Back then, not long after GATA was formed, we fumed at the stupidity and Gold Cartel complicity of these donkey brained hedges. GATA was mocked by the gold establishment forces for challenging the elites and their motives. BUT WE WERE SO RIGHT AND CONTINUE TO BE THAT RIGHT, even though The Gold Cartel and the US Government, have conspired to hire different hit men to carry out their nefarious operations as time goes by.
Back to England's Gavyn Davies and what I wrote in July of 1999 about Goldman Sachs and him...
GATA harbors no personal ill will towards Goldman Sachs, but the firm's name has surfaced not only in London but also everywhere GATA turns in our own investigation about the manipulation of the gold market. So consider this about Goldman Sachs:
*Former Treasury Secretary Robert Rubin, is a former Goldman Sachs CEO.
*Former N.Y. Fed Governor, Ed Corrigan is a senior partner at Goldman Sachs
*London based senior partner, Gavyn Davies, is Goldman Sach's international economist and has close ties to Tony Blair. Davies wife, Susan Nye, is chancellor of the exchequer's office manager.
*Dr Sushil Wadhwani, former Director of Equity Strategy at Goldman Sachs International (1991-95), sits on the Bank of England's Monetary Policy Committee. The committee's duties include determining the Bank's objectives and strategy, ensuring the effective discharge of the Bank's functions and ensuring the most efficient use of the Bank's resources.
*Jon Corzine former Goldman Sachs, CEO, has close ties to John Meriwether, chairman of Long Term Capital Management.
Former Fed vice chairman, David Mullins, was a partner in Long Term Capital Management, which, of course, was bailed out in part by Goldman Sachs.
*** Speaking of Goldman Sachs and Hannibal Lecter, something I referred to 13 years ago... can be there be too many others in the financial world that represent the most nauseating "Hannibal Lecter" than the above-mentioned Jon Corzine? He ruined and demoralized so many people's lives, not only while at Goldman Sachs (think African miners), but continued his voracious "Hannibal Lecter" appetite by ruining the lives of so many decent farmers in the Midwest as he stole their futures allocated money at MF Global.
This is so egregious! The pitiful thing is Jon Corzine is only one of a herd of a number of "Hannibal Lecters" out there, like JP Morgan. It is GATA's intention to make them known publicly before more innocents get devoured.
Unfortunately, you will see many more unnecessary decimation of those innocents if we are not successful!
Bill Murphy
LeMetropoleCafe.com
Chairman - Gold Anti-Trust Action Committee
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Usually Bill Murray is funnier then that
The comments are better than this silly article.
What was the point?
recent discussion (past 2 months) at fofoa
the mere existence of the paper gold market supresses the price of the metal...it works because gold is unlike any other 'commodity'... it is never used and always available to fill orders if the price is right. We will not see gold priced at its true value until the paper gold markets fail...and they will fail when the last suppliers say "no more... not at these prices.."
http://fofoa.blogspot.com/2012/07/fallacies-1-paper-gold-is-just-like.html
This article is a bunch of blather and makes GATA look like a bunch of raving loons. You can be in favor of purchasing physical PMs without asserting silly conspiracies. A bunch of rich white people know each other? Quelle surprise!
Too often the suppression of precious metals' fair market values is seen through the narrow lense of economic malfeasance, instead of the part it plays in a much thoroughly more sinister agenda.
Groups like GATA have done good work, but fail to grasp the significance of their own situation due to this myopia. The reference to Barrick is a case in point...Barrick didn't "decide" to cover their hedges - they were forced out of them when the Blanchard suit was settled - the risk of exposure to their real higher-ups made it necessary to take the heat off...
when the court docs were sealed, that mission was accomplished...and a whole new chapter of price suppression allowed to proceed, as the author correctly mentioned, under new guises and with different actors...
but the same directors, behind the scenes. Barrick has never been a 'miner'...they were formed with illicit $ gleaned from drug and weapons running profits, and have been funded to buy up real miners and launder stolen funds through these avenues...only when that truth, and the identities of those behind the scenes are no longer suppressed, will the suppression of precious metals be put to rest.
all i can add is i am at the point where even pm's are so manipulated it is no different than playing the paper market game.
difference is i got phy, but that is where my beef lies as i have this 10 percent dealer fleece come unload time unless you are ther WB type and hold til death and than wtf good is it? more power to ya! keep stakin and i am not knocking that.
seem like the more basic investment is in order
lead, much more utility and hedges inflation plus bonus of spike if sales become restricted. utility mon!
the device to utilize lead-simply put they go up and are great entertainment. resale simple by auction.
soon to be recieved monies from recent slv phys sale(40 percent of stack) and then off to fleetfarm for some otc "investments". kinda like stacking...
just so fucking sick and tired of the same sorry fucks messing with my hard earned stuff...
I might be a little slow due to alcohol tonight, but I am having difficulty connecting the first sentence with the rest of the article.
See--> Blogs.ft.com/gavyndavis Will central banks cancel government debt?
Somehow his FT blog post about central banks possibly forgiving gov debt, his connections to Goldman, and hedging gold are all connected.
I too am lost in the woods.
ditto.....('conecting first sentence to rest of article') probably a late night WTF rant. Have them myself from time to time...... actually now I think about it I have them most of time nowadays!
K@
It appears we are drinking the same thing, because I have the same problem, sort of a WTF? thing.
What, pray tell is the point of the article?
The point of the article is that a band of inter-connected weasels convinced gold producers or conspired with the gold producers to hedge a great deal of their gold production which not only badly damaged the producers but also damaged the price of gold for many years.
The bit it does not mention is that the overwhelming majority of the investing public was oblivious to this theft of the millenium.
Comments. Its about comments.
Frustration. Expect more on many fronts.
No kidding.
FWIW, the Davies article is available here:
http://blogs.ft.com/gavyndavies/2012/10/14/will-central-banks-cancel-gov...
(It isn't much meatier than this one we're commenting on.)
Here's a much more interesting article on dear old Gav:
http://blogs.telegraph.co.uk/finance/thomaspascoe/100018367/revealed-why...
Take a 1921 Morgan silver dollar (90%ag) and drop it from five feet on good solid floor, that sound, is the sound of money.Drop a bill of the local fiat from any height and you have the sound of nothing, much like a silent fart.
none of those is a sweet as the sound of a queef.
Physical gold and silver for us!
Jail time for the banksters (esp. Corzine)!
The Morgue's titanic paper short of silver will be a footnote in a historical account after the PDs implode and a new structure replaces it.
Any news on blowing the lid off JPM or a verdict on their investigation?? September's long gone...
I expect absolutely nothing to be announced. I think what they did was technically legal, but if anyone found out the details, there would be massive fallout. If they announced the results of the investigation, it would reveal how a whole lot of fine print was used to make theft legal. I am 95% certain JPM sold everything in SLV when they became the custodian, and that SLV never had more than 10% of what it claimed at any time. I am 95% certain GLD was emptied as much as a year before SLV. And I am 100% certain it was legal in "lawyer speak" and that no one will pay som much as a fine over the second greatest fraud in history. I think that right now GLD and SLV are merely paper derivative liabilities of JPM and they will be cashed out in fiat before the real move up starts. And when they announce the cashout, it will be proof they have nothing. No one would give up a legit money making gold storage setup. It would only be done if it was a pure paper liability getting physical redemption requests that it could not meet while the price of gold was rising. There is no other scenerio that would force them to fold, or make it worthwhile to fold, that I can think of.