Bill Murphy's Presentation at the Vancouver Resource Investment Conference

 

Hello Everyone

It is much fun having the opportunity again to make a presentation here in Vancouver on behalf of The Gold Anti- Trust Action Committee … in order to expose the manipulation of the gold/silver markets by The Gold Cartel.

My first trip here was 19 years ago for an arranged meeting at the airport with Normandy Mining Chairman Robert Champion DeCrespigny on his way back to Australia. After flying all that way from Dallas, this arrogant man refused to see me. GATA went all that distance to help his firm, the gold industry, and the gold market … and he could have cared less about those issues and our effort. Little did we know back then this type of reception would become much the norm, as not.

What a journey it has been all these years.

What we have learned over this period time is how all encompassing the market manipulation schemes really are. Initially, we realized that various bullion banks (such as Goldman Sachs and JP Morgan) were collectively suppressing the gold price to keep it below $300 an ounce. Eventually we realized the manipulation extended to silver also AND included the Fed, The Treasury, Exchange Stabilization Fund, BIS and other central banks.

Over the many years it became apparent the market rigging extended even further to other financial markets … including acknowledged intervention in our bond market and clandestine operations in our stock market, marshaled by the infamous Plunge Protection Team. One of the first people to acknowledge the magnitude of it all was my colleague Chris Powell, who at GATA’s 2008 conference outside of Washington, D.C. came up with his great line, "There are no markets anymore, just interventions."

For nearly 20 years Chris has been documenting the evidence of the intervention in the gold/silver markets by The Gold Cartel. It is all there on GATA’s website ( www.GATA.org) for anyone who wishes to get a grasp on how real and massive the intervention really is.

One of the most telling bits of evidence of what The Gold Cartel is all about emanates from one of the ringleaders of the scam, the Bank for International Settlements, which can be found at their own website. Regard what it explains to the investment world as one of their products:

And yet, incredibly enough, despite the obvious there are very few in the gold world who will touch the subject … THE most important one of ALL to those with any interest in the precious metals.

My role has been to chronicle the day to day activities of this cabal on my LeMetropoleCafe website, which many times are so blatant even a caveman could spot them. Our colleague James McShirley, a lumber company CEO with decades of experience in the futures market, has been invaluable in that regard. No other markets in history have traded the way gold and silver have … over, and over again, sometimes in the most absurd of fashions. The latest of which is the astonishing and unprecedented rise in the gold open interest on the Comex with The Gold Cartel doing the selling, and the hideous punishment of silver each time its price rises to $17.25.

Course many of you in this audience understand this and know of our efforts of nearly two decades to expose what will eventually become the most infamous financial market scandal in U.S. history.

As part of that effort…

*We have held 4 international conferences - in South Africa, The Yukon, Washington D.C., and London.

At our 2005 Dawson City conference a senior economic advisor to Russia’s President Putin, Andrey Bykov, showed up and said it was the finest conference he ever attended.

The price of gold had been comatose.

Two days later the gold price began to take off.

Two months later this picture made the rounds:

NINE months after GATA’s conference in Alaska, the gold price had risen 70%.

*We have been to Washington numerous times to meet the likes of the Speaker of the House; Ron Paul; Monetary Committees, etc.

*Organized letter campaigns to Congress.

*Been on various cable TV financial shows.

*Presented at conferences, such as this one, etc.

YES, it has been some journey…

*Most gratifying of all has been the terrific people we have met over the years, such as yourselves … many of whom have financially supported our efforts.

*Unfortunately, we learned the industry as a whole will never do anything about dealing with the most important factor in the gold/silver world. Yes, to do so would mean dealing with some permitting issues by governments and financings by bullion banks. Yet, any other industry would form an organization to deal with, or correct, the problem, so they could not be individually blamed. Not this one, which has The World Gold Council refusing to do anything about this devastating issue. The situation is so bad that when Chris, John Embry and I went to see their acting CEO in London in 2010 we had to sign a waiver of sorts saying we were never there.

Huh?

The World Gold Council’s CEO today is Randall Oliphant, who actually aided The Gold Cartel’s operations when he directed Barrick Gold’s massive hedging operations at the turn of the century.

GATA’s confrontation of Barrick Gold as an arm of The Gold Cartel back then, and for some years to follow, is a presentation all in itself. Just a few key points:

*In lawsuit proceedings Barrick Gold confessed that it and its bullion banker, JP Morgan Chase & Co., were the direct agents of the central banks in the international control of the gold price … that the central banks, having what is called sovereign immunity against suit, simply could not be included in the suit; and that the suit therefore had to be dismissed.

The suit was not and was settled out of court.

*It is no fluke that past Barrick Board members included George Bush, Brian Mulroney, the notorious Adnan Khashoggi, etc. All rich and powerful men. – and something to keep in mind for the rest of this presentation. Barrick was connected directly to the bullion/central bank rigging operations.

*Those gold rigging operations came to an end with Barrick taking something like an $8 billion dollar loss when its ludicrous gold hedges were forced to be lifted. The Barrick shareholders paid the price for that firm’s complicity with The Gold Cartel operations.

*Despite being the world’s largest gold producer, its share price today is less than when gold was below $300 and GATA came into being. What goes around come around in that regard.

*One final note, I made another trip up here to Vancouver in 2006 on behalf of the Nova Gold CEO, who, at the time, wanted GATA’s help to stave off an unwanted Barrick bid back then. We did what we could, but eventually those two companies got together and we never did receive any thanks from the CEO.

So, here we are all these years later and so what? Why carry on when the industry refuses to deal with its most important issue and let’s themselves get mugged by a corrupt operation? The answer is quite simple.

For Chris and I, "It is the life we have chosen" … a term appropriately taken from an old Mafia movie. Most importantly, major scandals in the past have taken many years to come out in the open. They include Enron, who was voted the US corporation of the year 5 years in a row by a major US financial magazine … and who can forget the Bernie Madoff scandal, one in which no one would listen to whistle blower Harry Markopolis for nearly a decade, despite the overwhelming evidence he presented to the authorities. Insiders at Enron who tried to expose the truth were fired.

How hard is it to get the truth out there? Last summer GATA spent many hours sending some 50 emails to a Wall Street Journal reporter doing a front page story on the Fed and its gold. We introduced the reporter to a number of those in the GATA camp. Here is the story:

But guess what? When that story surfaced, everything in there from GATA, or Chris Powell and myself, was cut out. YOU HAVE TO BE KIDDING ME! But were we surprised? Nope

But why carry on is best exemplified by what occurred this past year regarding the sex scandals in the U.S. A sexual harassment horror show by rich and powerful men in the U.S. praying upon women was an ongoing fact of life for many decades, but was kept on the down low. Finally, it all really began to surface with some 50 women accusing one of my childhood heroes, Bill Cosby, of date rape.

One or two could be a misunderstanding. But FIFTY? (Which is the equivalent to the sort of evidence GATA has on The Gold Cartel.) While that was more than unsettling, Cosby still has not been convicted of anything yet. However, it surely set the stage for the Hollywood Harvey Weinstein revelations…

The sexual harassment accusations against this famous Hollywood big shot were so outrageous and over the top that it sent out reverberations throughout the media/political world. Senator Al Franken has resigned, as have media giants Matt Lauer of NBC and Charlie Rose of PBS Broadcasting. Good grief! Within just months of Weinstein’s outing! Seems to me those reverberations are unprecedented in terms of speed.

The point here of this presentation is that these were hideous provocations just waiting to be exposed, which is just why GATA stays on the manipulation of the gold/silver markets. The reason so many of the coerced women were silent for so long is because they were going up against the MOST POWERFUL and RICHEST people in their field. LEGENDS in many cases. Who was going to believe them against who they would be charging? Most importantly, in terms of the GATA issue, they might get fired, or face retribution, for even making such charges.

I know exactly what I am talking about here. My very young sister Kris back then was a successful model in New York City in the 1980’s…

She went on an interview with Harvey Weinstein in a New York hotel suite and he had her dress up in a Teddy outfit with high heels on. So scared, she ran for the hills, but did tell my brother Tim at the time exactly what happened.

The point is going up against the rich and powerful is known to be a losing proposition … for most, but not ALL, of the time, The tide has now turned when it comes to serious sexual harassment issues. The scandal took decades to surface. And, in my opinion, the same is going to be the case for the biggest financial market scandal in US history, that being the wrongful suppression of the gold/silver prices.

Its time will come when your average Joe and Jane is devastated financially and wants an explanation of, "HOW COULD THIS HAVE HAPPENED?"

Which brings me to a critical point of my presentation for all of you here who are interested in the gold and silver markets. Because of what The Gold Cartel has done, the gold and silver prices are the most undervalued assets in the world … by a hefty margin. GATA realizes we are not wanted in certain circles in the precious metals arena because of what we have to say … that the richest and most powerful people in the world are preventing them from making money, going against them. So why bother to go there? Keep GATA out of sight and out of mind is their thinking. Nothing could be more out of whack in a big picture sense.

Think about it. Assets of all kind have soared over the past years, including stocks, art, real estate, etc. Incredibly low interest rates have enhanced all of them, but not the two markets which should have gone up the most with all the paper money hoarded into the financial market system. The orchestrated suppression of the gold/silver prices was put into play by The Gold Cartel to deflect from what the powers were doing … inflating the system, and perhaps very dangerously so.

As a result, the gold/silver prices have been forced to retreat to artificially LOW prices which will not stand. They will catch up to and go way beyond what most other assets have done these past years! IMO, understanding what The Gold Cartel has done is THE most important reason right now to be in the gold/silver markets.

Which brings me to a topic of conversation surely to be a part of many at this conference, the Bitcoin/cryptocurrency phenomenon.

One year ago I presented at a Jeff Berwick conference in Acapulco. The conference focused on precious metals and crypto currencies. The crypto folks were ecstatic back then as Bitcoin had risen to the same price of gold at $1240. Even then, the crypto crowd was bubbly as could be. So upbeat compared to the gold/silver crowd, which included myself, because of the nauseating price suppression. Can you imagine what that convention will be like this year with Bitcoin having reached $19,000 not long ago? Good for them.

Which leads us to another key issue for our camp. The crypto geniuses realized the advent of a technological way to put money outside of the traditional financial market system … for a myriad of reasons. The win for those who bought in prior of Jeff’s conference has been astronomical, the most phenomenal in all of recorded history. What has occurred exemplifies just how much the outside of the fiat money system gold and silver prices have been suppressed these past many years … which many of you are already too aware of.

But while what the Bitcoins have done has been a short term negative in the west regarding current interest in the precious metals, it is likely to be a boon of all booms once these undervalued assets begin to take off. A reason is that there are now a number of momentum traders around the world who have made so much money in various markets, they will not be afraid to pour into gold and silver investments as they really begin to REALLY move. This will be a force The Gold Cartel has not had to deal with before.

It is only a matter of time before the physical supply needed by the cabal forces to keep the gold/silver prices at such ridiculously low price levels dries up. The momentum traders will pounce all over this new, delicious opportunity. The Gold Cartel will be forced to retreat.

So, for what it is worth, this is what I see for the rest of this year…

*The gold and silver prices really get going, and they keep on going. The cheapest assets on the planet won’t be by the end of 2018.

*Gold will launch towards new all-time highs in the not too distant future.

*Once the price of silver, the cartel’s krytonite, takes out $21 it goes bonkers and eventually trades akin to what Bitcoin has done. The efforts by the JP Morgan forces to hold the silver price down at levels which are 2/3 less where it managed to trade 38 years ago are the most obvious and onerous I have even seen in 40 years. Silver has been so ludicrously depressed, Newton’s Law of Equal and Opposite Reactions, will finally take hold. $100 silver should be achieved faster than most anyone can imagine right now.

*Many of the beat up junior/exploration stocks will trade in Bitcoin fashion too and repeat the returns they made after the turn of the century, which were extraordinary to say the least.

Thank you … And may we all meet up again celebrating how everything has changed.

Comments

GeezerGeek Mon, 01/22/2018 - 22:41 Permalink

How many times have we heard this optimism before? I'd love to see GATA proved correct. I'd also like to see the FBI scoundrels in jail, a certain lady hung from a lamppost, etc., etc.

Gotta say it: Silver, bitchez!

JIMSJOE2 GeezerGeek Tue, 01/23/2018 - 06:01 Permalink

Time has passed Murphy and the old boys of GATA by. His explanations and reality are two different things. Take the lawsuit against Barrick and JP Morgan. It was dismissed because there was no proof they were suppressing prices. What Morgan was doing and they still do today is place hedges using mostly put options for their clients like Barrick in case price falls. Most of the shorts on the Comex are actually physical commodity producers, dealers like SD bullion, wholesalers and traders who are hedging their short dollar positions in currencies. If prices rise they can either let the hedges expire worthless and sell physical as usual in other markets or close out the hedges when not needed. If price falls thru the strike price they can exercise their hedges for cash, still sell as usual and still make money. These are nothing more than a form of insurance protecting from financial ruin. If I am a miner, dealer or wholesaler and fully hedged I could care less if prices go up or down as I will still make money in either direction. Since these entities need a line of credit for working capital many of these use the banks with trading desks placing hedges as these also provide the loans to operate. How Murphy comes to the realization that this is price suppression by some "cartel" is beyond me.

     Some months back he made the claim that because volume on the Comex is more than inventory proves price suppression. The fact is not only are physical commodity hedged but also dollars both long and short. Since dollars are the most traded currency on the planet and if you trade you must hedge this is why volume is so great. His mistake is that he doesn't understand that these futures markets are basically used to hedge and in fact most hedges expire worthless. If you are a large physical buyer of gold you are not going to use a hedging market but a physical gold market which are scattered around the planet like NY, London, Zurich, Luxembourg, Tokyo or Hong Kong.

      Another claim that he promotes is that the "cartel" uses naked shorts which he claims are illegal and the CFTC allows it. Again total nonsense. Naked shorting in futures does not mean the same as in equities. This is actually placing a trade without a corresponding hedge and your capital is exposed or naked. If I hedge my physical gold by buying a put option, (going short), how is this illegal? The fact is it is not and is what the CFTC determined a few years back when complaints were filed by GATA and they had an investigation.

      Another claim is that when prices always rise they claim the banks are getting squeezed on their shorts. First of all it is not the banks who own the shorts but clients. Second of all I can get squeezed if I own a put option? I know my maximum cost which is the cost of the puts.

      All of this is why GATA has lost credibility and is shunned by financial news networks!

In reply to by GeezerGeek

Bendromeda Strain JIMSJOE2 Tue, 01/23/2018 - 08:07 Permalink

Financial News Networks... well now, thanks for outing yourself as a tool.

Murphy: that the central banks, having what is called sovereign immunity against suit, simply could not be included in the suit; and that the suit therefore had to be dismissed.

The suit was not and was settled out of court.

Looks like somebody is lying. I'll safely assume it is you. Also, hedging your physical is not the same as dumping billions at illiquid times to intentionally jar the market to some target price, harming small speculators.

 

In reply to by JIMSJOE2

BobEore Pearson365 Mon, 01/22/2018 - 23:55 Permalink

For publishing a Bill Murphy encomium to himself and C Powell you mean? Let's get real for a moment. The very piece of self-stroking puff pastry which our man Bill has baked to overdone..

. surely makes a mention of the most important challenge ever made to the high grade rustlers who gathered a rogues gallery of international criminals together under the name of "Barrick" ... to the BIS... to JPM... and to the international finance capital leviathan behind them all...

BUT leaves out the NAMES OF THE GUYS WHO PULLED IT OFF... which is rather ironic since po boy Bill indulges in whining about the absence of credit given to himself and Chris for a nyt piece!!!!!!!!!!!!!!!!!

Robert "Bob" Landis and Reg "Da Judge" Howe. Two names which will escape the empty noggins of gold fanbouys mowed down by BIG GOLDS MEDIA MAFIYA MACHINE... two towering figures who stand out mongst a melange o pygmies and poseurs ...

Bob's incredible series of hit pieces on Barrick drove Randel O insane... like an Elephant terrorized by a mouse. Reg's lawsuit against the BIS and its bushy bandit confederates stained more underwear in high places than any other event since the last real audit of FT NOUGHT. They were the heroes... billy just a caretaker who cried wolf so many times the world gave up even listening to news from GOLDBURG.

Massive Breakouts are always - just around the corner, in Goldburg!  ROBERT AND REG. THEY WERE MEN

BILL N CHRIS. perfect heroes for the zh short pants set and serial whining club.

In reply to by Pearson365

. . . _ _ _ . . . BobEore Tue, 01/23/2018 - 00:12 Permalink

I don't think "just around the corner" frames the issue correctly.
It might best be described as "inevitable." It's just that the bull market in stocks has been artificially supported for so long. Goldbugs were and are right, the price has been suppressed, but it won't be allowed to go up until some event makes it unstoppable.

Of course, the problem lies in what you value your gold in. If the dollar crashes, the price of gold in dollars might skyrocket, but the price in e.g. Yuan might not change. Lesson: buy some Yuan, too.

In reply to by BobEore

BobEore . . . _ _ _ . . . Tue, 01/23/2018 - 00:33 Permalink

I might be biased, but nonetheless, a good article.

Nah, just underinformed... like everybody else who depends upon the 'new medias' for their news. VT is a disinfo site whose own editor says he bullshits "40% of the time" .... and they stoop to stealing real journos work to post without attribution. Not cool.

The Larouche gang actually used to do stellar investigative work... especially before Tarpley and the rest split.

For REAL stories about the seamy world o BUSH BARRICK... AND

golden stakker bouys fave lunatic - MR GOLD hisself... you gotta get outta ONEMEDIASTAN... and into outlaw country.

OUT OF AFREAKA - TRX - Neither Dead, Nor Alive

(Further Follies of the Zombie Digger Kult - Bury the Evidence!)

 

In reply to by . . . _ _ _ . . .

. . . _ _ _ . . . BobEore Tue, 01/23/2018 - 00:57 Permalink

I hesitated in posting those links based on the sources, but as you wrote, they do put up some good stuff. These articles are well-researched and, imo, reliable. The VT piece was even confirmed by one of Canada's leading economic commentators, to me personally.

FYI, I don't 'depend' on any news source. I'll check the veracity of any story from any source, but I do check until I am satisfied that the story is at least mostly 'on point.' Not everything from borderline sites is crap, just as not everything from more reputable sites is accurate. I tend to put more importance on the story than the publisher.

Your link echoed many of the same notions as mine did.

In reply to by BobEore

Bahamas Tue, 01/23/2018 - 09:13 Permalink

I've double checked BIS web site and it doesn't have that "intervention" line anywhere. Here is what I've found

Foreign exchange and gold services

Services offered are:

  • spot deals, swaps, outright forwards, options, FX-linked deposits
  • foreign exchange overnight orders
  • safekeeping and settlements facilities available loco London, Berne or New York
  • purchases and sales of gold: spot, outright, swap or options