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FT's Tett Says "Foolish Simply to Deride Or Ignore GATA" - GATA Debates CPM re Silver

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Mon, 10/24/2011 - 07:53 | 1803728 choorles
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for all your silver and revolutionary news www.silverrevolucion.com


Mon, 10/24/2011 - 08:20 | 1803797 Silver Shield
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I wrote the Silver Bullet and the Silver Shield when silver was $31 an ounce in February.

Since then it has been read by 350,000+ readers and translated into 7 different languages.

ALL of the fundemental reasons for investing is Physical Silver in that article are more powerful now, then back then.

Those that continue to be momentum monkeys in a doomed, rigged, paper, ponzi game will never get what is truly at foot here.

Those that do understand, smile and stack knowing that all of the plot twists are meaningless to the end of the story where silver remains the single best investment opportunity in human history.

If you doubt me, read Silver Bullet and the Silver Shield.

Mon, 10/24/2011 - 08:53 | 1803868 Motley Fool
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I hope you at least have some gold to save your ass when you are shown to be wrong on silver.

Mon, 10/24/2011 - 09:21 | 1803961 Pladizow
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Combat has been initiated!!!!!!!!!!!

"First they laugh at you, then they ignore you, then they fight you, then you win." - Gabdhi

Mon, 10/24/2011 - 12:27 | 1804717 4horse
4horse's picture

please xcuse . . .
but have perhaps lately had enough seeing this particular mahatma, most especially in preference to its clearer and of course much-earlier original:

All truth passes through three stages: first, it is ridiculed; second, it is violently opposed; third, it is accepted as being self-evident   --mostly, no doubt, because those opposed have long-since passed it off as their own

so, whatever one may ultimately think of gandhi--  winning --anything, having to do with the idea of what's willed as ever if even real . . .  would seem rather to keep this schopenhauer in mind

Mon, 10/24/2011 - 09:35 | 1804016 fonestar
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Stupid.  What do you think silver is going to do in the next twelve months?  Go from 1:52 priced in gold to 1:100?  You don't have a clue what you're talking about.

Mon, 10/24/2011 - 09:42 | 1804031 Motley Fool
Motley Fool's picture

Hehe. Well, that depends. I did give my 'prediction' on silver for the next year on my blog, in commentary upon this video, which I linked a bit a bit lower in this post.

You are entitled to your opinion of me being a fool. :)

Mon, 10/24/2011 - 09:45 | 1804045 fonestar
fonestar's picture

Well as for my own predictions, in the medium term they manange to hammer paper silver anywhere from $25 - $30/oz to extract themselves from their shorts.  But this is meaningless as the physical buying out of Asia at these levels is frantic.  Above ground metal dries up and disappears.  Then in later 2012 or early 2013 silver resumes its march towards $100/oz and much higher..

Mon, 10/24/2011 - 10:01 | 1804080 Motley Fool
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My eventual price estimation for silver, after the collapse of the economy, is about $10-30, in today's terms.

btw, nice avatar, Ezra Pound.

Mon, 10/24/2011 - 10:14 | 1804129 fonestar
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Thanks.  In any case, the paper silver price will not reflect the reality around it but I doubt they can take it quite that low.

Mon, 10/24/2011 - 10:42 | 1804226 Motley Fool
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I was talking about the real silver price. Anyhow. We shall see what we shall see.

Mon, 10/24/2011 - 11:04 | 1804342 Ahmeexnal
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It could even go as low as 5 bucks, as that's what it costs "to dig an ounce outta the ground" according to MethMan.

Just means you get to buy more at blowout prices. Deflationary period will be short. If you hold on to paper you'll be sorry.

Mon, 10/24/2011 - 14:35 | 1805283 Motley Fool
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Agreed. let me put it this way paper < silver < gold.

Mon, 10/24/2011 - 09:15 | 1803945 bernorange
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One day, the world will sing: "I can see clearly now the fiat is gone"


Mon, 10/24/2011 - 10:58 | 1804306 lookma
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Silver > paper is a good theme for you, stick to that.

You wouldn't want to have to address the stock to flow of silver as compared to other metals, such as why silver is mostly consumed but another metal gets hoarded by countries, central banks and the wealthy producers amongst us.

After all if you did address that other metal in such a fashion, you'd prove that "silver remains the single best investment opportunity in human history" is an incredibly  uniformed statement, and that wouldn't be good for your mindless advocacy.

Carry on, you've almost led the lemmings off the ledge!



Mon, 10/24/2011 - 08:23 | 1803800 MillionDollarBonus_
MillionDollarBonus_'s picture

Hmmmm. Maybe GATA's accusations do have a little credibility. The Financial Times is highly respected media outlet and the opinions of its members should be respected as such. GATA should be honoured to be recognized (if only a little) by such a prestigious newspaper. Unfortunately, GATA's conspiracy theories are a little too outlandish to warrant further attention by respected journalists, but this acknowledgement should be treasured as a worthwhile achievement, and I would like to congratulate them on this fantastic accomplishment. Well done!

Mon, 10/24/2011 - 08:45 | 1803844 Pinto Currency
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We must be getting close.  FT has been variously ignoring and deriding gata for more than a decade.


FT were the ones who promoted the Euro relentlessly in the 1990s, so I don't know why anyone would find that rag of value given what those honourable men (dopes) have been promoting.



Mon, 10/24/2011 - 08:57 | 1803881 fiftybagger
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Anyone ever heard of the London Gold Pool?


Mon, 10/24/2011 - 09:51 | 1804067 Odin
Odin's picture

 Yep... Part of the reason Fort Knox is empty...America's gold was stolen by banksters... Step 1: Steal much of the world's gold. Step 2: Create a bull market in gold through inflation. Step 3: Eventually destroy the world's reserve currency, sending the price of gold soaring. Step 4: With wealth and power consolidated, create a new currency and repeat.


Mon, 10/24/2011 - 10:43 | 1804231 BigJim
BigJim's picture

My understanding is that a lot of the US' gold during the 'London Gold Pool' period wound up in France, because Jacques Rueff saw the system was unsustainable and told de Gaul to swap USDs (earned from US imports) for specie.

Mon, 10/24/2011 - 11:04 | 1804340 lookma
lookma's picture

SHHHHH, were not allowed to discuss facts, this is a GATA thread, so we have to pretend we are brain-dead monkeys and unquestioningly accept all that Big Brother, umm I mean GATA, tells us. 

Your knoweldge of histroy has no place in this thread.



Mon, 10/24/2011 - 10:04 | 1804104 passwordis
passwordis's picture

So GATA's "conspiracy theories" have attracted the attention of the editor of the Financial Times which you describe as a very "respected" publication and yet these same theories are too outlandish to warrant further attention by "respected journalists"


Well said!  Bravo!


BTW, What exactly is a "respected journalists" these days? Perhaps the highly respected Anderson Cooper should take up the cause,  then these outlandish conspiracy theories might gain a measure of credibility!



Mon, 10/24/2011 - 10:51 | 1804277 bardot63
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The comment that "GATA's conspiraracy theories are a little too outlandish to warrant further attention" clearly shows someone hasn't  read the data compiled by GATA.  No less a central banker than Alan Greenspan has admitted to the facts of GATA's charges.

... on July 24, 1998, Greenspan told the House Banking Committee: "Central banks stand ready to lease gold in increasing quantities should the price rise." He repeated that statement a few days later to the Senate Agriculture Committee:


Beyond that,  it is absolutely disastrous to accept as truth that governments have your individual liberties and best interests at heart, and that the "highly respected" financial media is not part of that scam.  Who says FT is a "highly respected" publication?  Since when have financial establishment publications ever been first to sound the alarms?   I recognize the old yellow journalistic practice of "trading truth for access."  As a retired reporter, and I can tell you those who criticize that practice are never welcomed by the mass media. Except in this case, FT can't even get the access to the central banks that GATA has fought for and won.  If FT, or any of the mainstream financial media, is so "respected," then what does anyone need with a Zero Hedge?  Who is it that has a stake in holding the exchange rate of gold down, against all free market principles?   Who is it that benefits from a low gold value?  The answer is money printers and those who profit from money printing who also control or advertise in mass media.   Yes, gold has been rising constantly in nominal terms, but is that not markets overpowering government? Isn't government slowly losing control over markets, as headlines around the world indicate? Or do those headlines indicate governments know what they are doing?  And the larger question:  does government truly have the citizenry as a primary concern, or is the primary concern to maintain power over people?  US Fed intervention in what should be free stock markets and free bond markets is well known and accepted as fact, so why is intervention and meddling in what should be a free gold market so difficult to believe?  Why is that a conspiracy while interest rates at zero, destroying the lives of millions of savers, is not a conspiracy?  And would some gold producers actually go along with government's price rigging?  Evidence from GATA's lawsuit against JP Morgan --tesitmony from a Barrick Gold exec,  exposed Barrick Gold's participation with the US govt as a colluder in price fixing. Barrick claimed to be an agent of the US Fed.   It's right there in the extensive  research, from a source no less than a federal court:  

"Barrick claimed that, in borrowing gold from central banks through Morgan Chase, Barrick became the agent for central bank gold policy; that, as the agent of central banks, the company could not properly be sued without also suing the real parties in interest, the central banks, as well; and that, since the central banks, as the agencies of sovereign governments, have immunity and could not be made party to the Blanchard suit, the suit should be dismissed:


To believe GATA's work  is just a conspiracy theory is to believe government has the best interest of individual freedom at heart, and to believe that government does not meddle in the gold/silver markets is to believe gold/silver are the only markets they do not attempt to control.  And that would be, and is, an absurd belief. 



Mon, 10/24/2011 - 11:16 | 1804379 lookma
lookma's picture

Yeah I know, GATA's not so much conspiracy theory as its just plain STUPID.


BTW idiots, on a Motion to Dismiss the Plaintiff's well pled factual allegations are accepted as true and the Court then decides if their is an actionable claim based on those alleged facts.  So no retards, the Motion to Dismiss doesn't involve any admissions, its juts shows how manipulative GATA is - "lets plead a crazy claim, which the USG will obviously to file a Motion to Dismiss on and win, and then we can go around and claim to all the fools who don't know any better that the Motion to Dismiss is proof of our allegations."

I'm sorry if you are too dumb or uniformed to understand what a Motion to Dismiss is all about, but if you did understand it you would painfully cringe at how misleading and manipulative GATA was.


Its not hard to live the good life - buy physical gold and turn on your brain, elementary thinking is a remarkably robust immuniationization against the GATA contagion of stupids. 

Mon, 10/24/2011 - 13:12 | 1804912 Golden Showers
Golden Showers's picture

You're right. It's stupid and we're retards. Thanks for helping me avoid tarnishing my loafers in this pile of GATA dog shit.

While you're at it, could you just drape your coat of arms over your keyboard and shut the fuck up?

I was reading this thread with some interest until you hurt my feelings. Thank you.

PS I like information and from all sides. It helps me turn on my brain. But now I think I'll take the BAR exam, thanks to you.

Oh, shit, my soup got cold!

Mon, 10/24/2011 - 14:01 | 1804944 4horse
4horse's picture

Yeah I know . . . its [sic] just plain STUPID.

BTW idiots, on a Motion to Dismiss  .  .  .  their is [idiocy]

So no retards . . . its juts [sic] shows how this dis missive if not juts dyslexia makes thinks what {It's hard to live the good life - buy}dis missive  . . .is - "lets plead a crazy


which the USG will obviously to [sic] file a Motion to . . . "

I'm sorry if you are too dumb or uniformed [sic] like to file such a suit in those stoopid suits . . . but if you did understand it you would painfully cringe

Its [sic] . . .hard to live the good life - buy. . .your brain, elementary thinking is. . . immuniationization [sic] against the. . .contagion of stooopids.


Yeah I know . . . it's catchy. yet they iz no shots against stoopid

Mon, 10/24/2011 - 07:54 | 1803730 GeneMarchbanks
GeneMarchbanks's picture

'The ‘Great Gold and Silver Debate’ is set to continue. It is an important debate that all investors, savers and market participants should be aware of as it has obvious ramifications with regard to preserving and growing wealth in the coming years.'

There is no debate. There are only those who understand, and those you blindly accept fiat as valuable.

Gillian Tett was on with Hugh Hendry when he famously told Jeffrey Sachs that it was time to panic. Good to see someone at FT at least trying.

Lastly, Christian is an absolute ponce. I stopped listening in 2009...

... that bitch is either clueless or criminal or both.

Mon, 10/24/2011 - 09:33 | 1804008 Snidley Whipsnae
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"That day the U.S. announced that the dollar would be devalued by 10 percent. By switching the yen to a floating exchange rate, the Japanese currency appreciated, and a sufficient realignment in exchange rates was realized. Joint intervention in gold sales to prevent a steep rise in the price of gold, however, was not undertaken. That was a mistake.”

The above comments from: "The Wall Street Journal reports tomorrow that former Federal Reserve Board Chairman Paul Volcker has become a close adviser to the Democratic presidential candidate, Sen. Barack Obama. So it may be good for gold’s friends to see the following quotation from Volcker’s memoirs, which, as far as we can tell, have been published only in excerpts and only in The Nikkei Weekly in Japan, this particular excerpt having been published on November 15, 2004. Volcker wrote of the events of February 12, 1973."

There is no debate... Volcker clearly admits that the Fed should have intervened in the gold mkts to stop gold from rising against fiat currencies. imo, this is an admission that the Fed's/CB's normal policy of intervention in gold mkts was not taken and goes a long way toward explaining why gold did not skyrocket when the Swiss Franc was recently pegged to the Euro.

What debate? Why debate what is obvious?


Mon, 10/24/2011 - 07:54 | 1803732 Al Gorerhythm
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100:1 rigged.

Mon, 10/24/2011 - 07:56 | 1803741 silver4me
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RT video (3min) talking about what happens when you want a gold back currency http://www.youtube.com/watch?v=hN0aNsA9ALg

Mon, 10/24/2011 - 07:57 | 1803743 bigdumbnugly
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"graduating from his usual distortions to outright contrivance."

down on the farm contrivance = lies (or b.s.).   i wish he wouldn't have given him the benefit of the nicer terminology.

Mon, 10/24/2011 - 07:57 | 1803744 disabledvet
disabledvet's picture

You mean "governments are failing in their interventions." after trillions spent and monetized shouldn't unemployment be at zero like say...as mainland China claims? In other words "price suppression" is just code for "nobody's got an income anymore." all the gold in the world can't change that--although all the oil in the world sure can.

Mon, 10/24/2011 - 07:58 | 1803747 HD
HD's picture

There is not one market that is not being manipulated at this point. TPTB will do anything to keep the game going including lie, cheat and steal for as long as they can. In the end it won't matter...you can't re-inflate a popped balloon.

Mon, 10/24/2011 - 07:58 | 1803749 jmcadg
jmcadg's picture

GATA are on the money, but sadly, Bill Murphy did not crucify Jeff Christian. Christian in fact came away looking the better of the two. Frustrating when you look back at the video evidence where he blurted out the 100s-1 paper manipulation of the gold market. Christian is part of the problem. Next time use Adrian Douglas, he's a much better speaker. However to be fair, the framework for the debate was dreadful. The Irish idiot in the middle loved to sound of his own voice.

Mon, 10/24/2011 - 08:12 | 1803776 aleph0
aleph0's picture

Yep, Murphy did more damage than good IMO.

He simply should have used the Hunt Bros. as the perfect example of the  power the BigBanksters wield over "margin levels".
Actually, Im getting a bit fed up with GATA ... they should  by now  , have  a solid & watertight paper-trail ( displayed on their website ) of all of the many events that we have probably  all witnessed.
He mentioned the recent Chinese Cables ...  that is not proof, just the opinion of the Chinese.

Mon, 10/24/2011 - 08:12 | 1803779 sunnydays
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Part of the reason why Jeff Christian came out better than Murphy is because of how Kitco set up the viewing of the debate.


They set it up with subliminal messaging suggestion.


Notice above the split screen, they set it up where they filmed Murphy with black drapes behind him - (which makes people doubt truth and honesty) and with Jeff they filmed him with the white screen behind him (which suggest truth and honesty and light).


People when watching will doubt the "black" where as they are more open to the "white".


Kitco set it up... for Jeff to come out ahead in people's opinion of what he said as truth.  



Mon, 10/24/2011 - 08:29 | 1803812 Xinu
Xinu's picture

If you ever have the mis-fortune of visiting the Kitco forums (especially the silver forum), it is overwhemingly stacked with Jeff Christian clones and banker shills. It's like a bizarro world where common knowledge is constantly disputed. Banning is quite common...

Mon, 10/24/2011 - 09:23 | 1803972 fiftybagger
fiftybagger's picture

Kitco, the home of the infamous Jon Nadler, the Robert Prechter of gold, who has been consistently wrong for so long he makes a stopped clock look like the Oracle of Delphi

Mon, 10/24/2011 - 10:08 | 1804116 Snidley Whipsnae
Snidley Whipsnae's picture

Xinu... I have heard nothing of the Kitco lawsuit, iniated by the Canadian Gov, for tax evasion.

It was big news a while back... but nothing recently. I was hopeing that Kitco would go the way of buggy whip manufacturers.

Any news on this?

Mon, 10/24/2011 - 12:08 | 1804644 Xinu
Xinu's picture

I haven't heard a thing about that since it was annouced this past summer.  I'm still hoping they just go away - I know, personally, I have no use for them.

Mon, 10/24/2011 - 09:18 | 1803954 sunnydays
sunnydays's picture

More info on the subliminal message of who to believe during the debate.



Mon, 10/24/2011 - 08:45 | 1803838 Motley Fool
Motley Fool's picture

Hmm. I am in agreement that the POG is manipulated. However the futures market paper to gold trading ratio should be considered in the light that most of the people who buy that paper, do so the trade the price of goldm and don't actually want the gold.


It is similar to what happens in many other markets.


Of course, gold should be different, being what it is.


Fwiw someone asked my opinion on the video yesterday, and I gave it in my comments on my latest post.



Mon, 10/24/2011 - 10:12 | 1804125 passwordis
passwordis's picture

  Exactly.  Bill Murphy is just not very articulate and he's acted silly and goofy in previous clips I've seen. Why is he representing GATA ,at these functions, when Adrian Douglas is on the team?   Know your strengths and weaknesses.

Mon, 10/24/2011 - 08:02 | 1803754 Mr. Mandelbrot
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"Gold and oil never flow in the same direction."  -Another, 1999

Tue, 10/25/2011 - 19:03 | 1803858 Pinto Currency
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Gadhaffi might dispute that now that Libya's gold has been "liberated" !

Mon, 10/24/2011 - 08:04 | 1803758 i-dog
i-dog's picture

"bullion banks and central banks may be intervening in free markets and surreptitiously manipulating gold and silver prices and keeping them artificially low."

No shit, Sherlock!?!

Mon, 10/24/2011 - 08:40 | 1803831 GoldBricker
GoldBricker's picture

Yeah, duh.

The price of money, the interest rate, is the most important single price in the economy and controlling that is official policy. Controlling the gold price (in this case, having it rise in an orderly fashion instead of disorderly) is a necessary corollary to that. Of course they do it; it's their job, just like a million other things they do but don't admit to because they're contrary to American Values or whatever.

If there is any significance to a piece like this one, it's that some event is getting close. A few people like G. Tett, who are usually totally conventional (her employer is a Rothschild-owned newspaper), is slipping quietly off the boat before it hits the iceberg in order to salvage some credibility later on.

Mon, 10/24/2011 - 08:07 | 1803767 Mr.Sono
Mr.Sono's picture

that was weak on both ends.

Mon, 10/24/2011 - 08:12 | 1803778 topcallingtroll
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No one in the lamestream media should be surprised.

It is general knowledge that central banks manage currency prices, often in coordination with other CB's.

Of course they attempt to manage gold too, since it is just another currency. However the CB's can never admit to gold being a currency.

If CB's ever admitted that gold were a currency then there would be the biggest gold melt up ever seen.

Mon, 10/24/2011 - 08:16 | 1803788 Rakshas
Rakshas's picture

Denial in this case is akin to denial in skydiving when your chute fails to open, while you are flying you can tell yourself a good many things to keep the dream alive but in time reality will make the required corrections to the delusion....

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