GATA's Bill Murphy on the Manipulated Gold Drop and a Gold Manipulation Linkfest[er]

EB's picture

Spilled ink...spilled's time to spill some electromagnetic broadcast waves [and Comcast fiber photons] over the recent drop in gold price and just how exactly the global gold cartel operates.  And Bill Murphy of GATA begins by describing his oganization's mission at 2:22 in:

We cover CFTC whistleblowers, BIS evidence of gold manipulation, the JP Morgan silver short, Andrew McGuire, Paper gold vs Physical gold, GLD vs SPROTT, Gold Leasing, Robert Rubin, Larry Summers, Central Bank gold leasing, Gibson's paradox and that thing in your kitchen in which unwashed dishes collect.

And since we're on the topic, we've put together this gold manipulation linkfest:

"Zero Hedge has recently presented several declassified documents from the pre-1971 "Nixon Shock" days, that endorse the case for gold as a major historical factor in US monetary and foreign policy, as demonstrated by State Department and CIA disclosure. Gold's special status in policy and administrative decision-making was a direct factor in Nixon's choice to abolish the gold reserve at a time of an exploding budget deficit."

"Some who are reading this are likely having an eye-rolling moment because they hold a belief that there is no conspiracy to manage the price of gold. This is an interesting belief to hold because it runs heavily against the odds. It's similar to holding the belief that the house in Vegas does not have a statistical advantage."

"market prices of two different assets do not plunge in tandem by 1.2% within a matter of half-an-hour or so at precisely the same time and then gain everything back in the next two hours if their prices are set by free and fair markets."

Powell warns about “paper gold” and says that we “try to persuade investors that if they are purchasing gold, they had better get real gold – metal. They should not get “paper gold” and keep it within the banking system.”

"What would you think if someone told you the following? 'Three times this week, I am going to tell you the low price of gold with near perfect accuracy, and one of those three times, I am going to tell you events that will precede the low and the exact time that gold prices will crash.'”

See here: 2/26/13 Part 2 and here: 3/16/13 Part 3

"we believe quite a few other countries will follow in Germany's footsteps for one very simple reason: suddenly the question of whether their gold is located at 33 Liberty, or just adjacent to it, in what we have learned is the de facto largest private gold vault in the world, located across the street 90 feet below 1 Chase Manhattan Plaza, doesn't appear to have a clear answer."

Later in the show at 16:00, Justine Underhill...[click img]

...charts how corporate cronies game the tax system to report phony profits and other shenanigans.  Negative tax rates?  Why not.

Here's how the "Citizens for Tax Justice & the Institute on Taxation and Economic Policy" breaks it down:

Not that we're begging for more taxes, but lets let former Treasury officials like John Samuels write a TurboTax program that could get even Timmaay off the hook.

Signing off (for today -- we'll be back with Jim Rickards tomorrow and explain why an investment in China might just not be),

Uncle Bob

Follow me at @EnglishPI

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Cacete de Ouro's picture

It would be better if all you 'ZH commentators' actually did some original research on gold price manipulation, secondary research, and then contributed it to Gata or whoever, instead of just mouthing off or giving out.

This linkfest, whats the point? Its all known...

You should aim to find unknown or little known my opinion

Michelle's picture

Gold, just like house prices (and any other asset for that matter), will come down when the common man can no longer afford to buy. It's that simple.

Michelle's picture

Ah, you're avatar says different except all you can afford is silver.

dunce's picture

I have always thought corporate taxes should be zero and i knew some did not pay any and because of tax loss carry forwards maybe not for several years but it seems that some never pay any tax and actually get money back. A very broken system.

Amagnonx's picture

I have a range of different levels of response to taxation.


My first reponse is that if a society is actually free, then taxation should be voluntary - this would cause unpopular regimes and policy to become bankrupt.


Secondly, corporations should be abolished because they are treated legally as persons, when in fact they are a folder with some papers in them.  This becomes a problem because if they do something wrong, then you connat punish a folder of papers - no matter how good your legal system is.  A folder of papers will not learn its lesson.


Lastly, if you have taxes on business, this is a second grab at money - and the extra tax is always paid by individuals.  A folder of papers does not have to pay the tax - people do, productive people.  So a business tax costs are always paid either by employees, customers or shareholders - it is never paid by creditors (the banks) nor is it paid by the business itself, because a business is not capable of creating things - only human beings are.


Taxing businesses and corporations just makes everyone pay more for products, makes business inefficient and society becomes poorer.

Polonius's picture

Bill Murphy is a class act.  I simply shake my head and laugh at so called mainstream analysts like Gartman, Mauldin, Rule, Fleck, Casey and anyone else who haven't the courage to speak the truth.  Shame on you guys.  Murph, you are THE MAN.  GO GATA.  Truth, justice and the American way.  Not the USSA way.

Cult of Criminality's picture

Damn Cristo

Kinda hardcore but i must agree.


cristo's picture

Fuck Gata if there's a conspiracy to manipulate gold prices to the down side i wish Bill murphy would just shut the fuck up .Lert us enjoy the sale prices . it's bee fucking awsome for the past 2 months , this fool's gonna rune it for us . I don't want the gold prices high when i'm accumulating , that's nuts and you guy's who are looking for high prices and are still buying ,are you stupid ?  You know you can make money in a down maket right ?  

Car 54 Where Are U's picture

I agree - these low prices are perfect to accumulate now. Especially if you buy at 5% below spot from a US miner like I do! Life gets even better if you want to play an arbitrage and sell back to his US refiner at 1% below spot and lock 4% profit per month. I won't post a link but drop me a line and you can work directly with the miner. Greg at logigold dot com

Peter Pan's picture

As for phony profits, does anyone remember when corporations could transfer imaginery long term pension fund returns to their company's profit and loss statement to boost the bottom line?

I often wonder wht profits a great many of these ompanies woukd report if it was not for the government teet shoved down all the way to their tonsils.

Peter Pan's picture

Well that last table with the negative tax rates makes the 47% of the population that do not pay income tax seem like benefactors.

It has been known for years that these companies release one set of figures for stock market effect and another set to the IRS.

No wonder middle America is caving in.

I personally welcome the downward manipulation of gold while I can still buy at these ridiculously low prices.

Unfortunately the bulk of the population suffers from financial tinitus or just cannot afford to buy gold.

Either way, when the final bell rings even the deaf will hear.

DaveyJones's picture

GATA does great work

SoberOne's picture

Still stacking here!

GetZeeGold's picture



I just keep throwing crap into the sock drawer.


I remember when Bill got assaulted out of the blue right after he formed GATA......screw'em if they can't take a joke.


It's half manipulation and half stupidity.....most people have no concept of value anymore. After all.....America is a long way from Zimbabwe. Set the printers on full and buy's the American dream.


What could possibly go wrong?