Showing posts with label GATA | The GATA DISPATCH. Show all posts
Showing posts with label GATA | The GATA DISPATCH. Show all posts

Jun 14, 2018

How long should investors stick with gold, and why? GATA | THE GATA DISPATCH

How long should investors stick with gold, and why?

Submitted by cpowell on 03:24PM ET Thursday, June 14, 2018. Section: Daily Dispatches 11:28a ET Thursday, June 14, 2018
Dear Friend of GATA and Gold:
This correspondence may be of interest.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
* * *
Wednesday, June 13, 2018
Dear Chris:
I briefly met you maybe eight years ago in New York when we heard a presentation by Jim Sinclair at the annual dinner of the Committee for Monetary Research and Education. I am an independent 78-year-old engineer and have followed GATA's reports on gold price suppression

My knowledge of the international monetary system is only that of a layman. I also follow other internet sites like King World News, JSMineset, Jim Willie, and Silver Doctors, which seem more promotional for gold. Your writings impressed me that you are a straight shooter and I had a similar impression speaking with you. I would value your opinion.
It does appear to me that the dominance of the U.S. dollar is nearing an end. Several factors should have driven the gold price sky-high by now, yet it remains stuck around $1,300 per ounce.
-- The U.S. money supply has tripled or quadrupled in recent years. It appears that this trend will accelerate.
-- The Muslim world now finally permits followers to invest in gold.
-- China, Russia, and India are buying more gold than ever.
-- China's issuance of the petro-yuan is the beginning of the decline of the dollar.
But the investing world greets all this with a yawn and instead bids up the already overpriced U.S. stock market, lending credence to GATA's argument that the gold price is being artificially suppressed.
I hold a healthy chunk of my retirement savings in a variety of precious metal mutual funds and my advisers claim that it is time to dispose of them and instead invest in the general stock market. Yet that market has not had a correction for a decade and is long overdue for one.
Do you have any gold timing advice or can you recommend anyone for that?
-- B.B.
* * *
Wednesday, June 13, 2018
Dear B.B.:
Thanks for your note.
GATA is not an investment adviser, but we think the basics for gold are very much as you understand them and thus incredibly bullish except for central bank price-suppression policy.
Yes, there are increasing indications of stress in the gold banking system, but the central banks haven't lost control yet. My guess is that as the metal the central banks are prepared to lose runs out, they will revalue gold substantially upward, repurchase the metal they have been selling and leasing, and restart the price-suppression scheme at a more sustainable level for another half century.
But they won't be letting us know in advance the date of such a reset. I'm 68 and I am not sure that I will live to see that day.
And then, of course, there is the question of whether, after a reset, governments will let people keep their gold and let mining companies keep their properties. I think the East will be less confiscatory than the West, but no one can be sure.
So how long should anyone hold out with the monetary metals? That's investment advice. I'm holding out but it's mainly for spite. It's all GATA can do to keep documenting the market rigging and pressing the issue with all who will or should listen.
Unfortunately with a few courageous exceptions, the mining industry itself is almost entirely useless in this regard, as are mainstream news organizations. The suppression policy of various governments envelops them too.
GATA's support is very limited and steadily diminishing as the market rigging by governments becomes more aggressive and those who believe in free and transparent markets and individual liberty grow demoralized by the long struggle.
These are our Valley Forge days. But at least we still have boots and so we will press on as best we can.
Thanks again for writing. I'm sorry I can't be more helpful.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * *

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Gold explosion more likely than bull market, GATA chairman says | GATA THE GATA DISPATCH

Gold explosion more likely than bull market, GATA chairman says

Submitted by cpowell on 02:43PM ET Thursday, June 14, 2018. Section: Daily Dispatches 10:43a ET Thursday, June 14, 2018
Dear Friend of GATA and Gold:
GATA Chairman Bill Murphy, interviewed this week by Chris Waltzek for GoldSeek Radio, says fundamentals for the monetary metals have never been more favorable but governments and their bullion bank agents are making sure that excitement falls on other investments. Murphy thinks that because of the long suppression of their prices, the monetary metals are more likely to rise in an explosion than in a gradual bull market.
The interview is 12 minutes long and can be heard at GoldSeek Radio here:
http://radio.goldseek.com/nuggets/murphy.06.13.18.mp3
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org



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* * *

Jun 13, 2018

London's gold market demands green credentials for producers |GATA | THE GATA DISPATCH.

London's gold market demands green credentials for producers

Submitted by cpowell on 03:44PM ET Wednesday, June 13, 2018. Section: Daily Dispatches How hypocritical! For the LBMA is the agent of central bank price suppression policy, which induces miners to skimp on environmental protection and remediation -- to take the metal and run, leaving polluted gashes in the land.
* * *
By Henry Sanderson
Financial Times, London
Tuesday, June 12, 2018
The world's biggest producers of gold will have to prove their green credentials if they want their metal to be traded on London's $5.5 trillion-a-year bullion market.
Under the new standards being introduced by London Bullion Market Association, refiners and miners will have to provide data on a range of environmental benchmarks including energy usage, pollution, water usage, carbon emissions, as well as health and safety.
 If miners or refiners do not meet the new guidelines that will begin next January, they face the prospect of being removed from the LBMA's good-delivery list, effectively shutting them out of the London market. The list of 70 approved refiners accounts for 90 percent of annual global gold production.
...
... For the remainder of the report:
https://www.ft.com/content/fa802a08-6d91-11e8-852d-d8b934ff5ffa

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Thursday-Sunday, November 1-4, 2018
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* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
http://www.gata.org
To contribute to GATA, please visit:
http://www.gata.org/node/16

Jun 10, 2018

CFTC probes market manipulation -- but of bitcoin, not gold | GATA | THE GATA DISPATCH | GATA | THE GATA DISPATCH | FGC BOLSA - FGC FINANCIAL MARKETS

CFTC probes market manipulation -- but of bitcoin, not gold

Submitted by cpowell on 03:14PM ET Sunday, June 10, 2018. Section: Daily Dispatches As the fraternity brothers observed in "Animal House":
Boon: A vicious mother, isn't he?
Otter: He can't do that to our pledges.
Boon: Only we can do that to our pledges.
https://www.youtube.com/watch?v=cQR60rdKffw
* * *
U.S. Regulator Demands Trading Data From Bitcoin Exchanges in Manipulation Probe
By Gabriel T. Rubin, Dave Michaels, and Alexander Osipovich
The Wall Street Journal
Friday, June 8, 2018
WASHINGTON -- Government investigators have demanded that several bitcoin exchanges hand over comprehensive trading data to assist a probe into whether manipulation is distorting prices in markets linked to the cryptocurrency, according to people familiar with the matter.
The investigation followed the launch of bitcoin futures on CME Group Inc.'s exchange six months ago. CME's bitcoin futures derive their final value from prices at four bitcoin exchanges: Bitstamp, Coinbase, itBit, and Kraken. Manipulative trading in those markets could skew the price of bitcoin futures that the government directly regulates.
 CME, which launched bitcoin futures in December, asked the four exchanges to share reams of trading data after its first contract settled in January, people familiar with the matter said. But several of the exchanges declined to comply, arguing the request was intrusive, the people said.
The exchanges ultimately provided some data, but only after CME limited its request to a few hours of activity, instead of a full day, and restricted to a few market participants, the people added.
The dispute frustrated CME's regulator, the Commodity Futures Trading Commission, these people said. In response, the commission subpoenaed the exchanges for the data. CFTC officials backed the launch of bitcoin futures, saying they viewed it as a risky but worthwhile project.
The CFTC was upset CME didn't have in place agreements that would compel bitcoin markets to share trading data tied to futures contracts, these people said. Such agreements would detail what information the cryptocurrency venues would have to provide to CME, including the time of trades, unfilled or canceled orders, the size of orders, and traders' identities. ...
... For the remainder of the report:
https://www.wsj.com/articles/u-s-regulators-demand-trading-data-from-bit...

* * *

Swiss voters reject radical sovereign money plan in landslide | GATA | THE GATA DISPATCH | FGC Financial Markets

Swiss voters reject radical sovereign money plan in landslide

Submitted by cpowell on 02:33PM ET Sunday, June 10, 2018. Section: Daily Dispatches By Catherine Bosley
Bloomberg News
Sunday, June 10, 2018
Swiss voters dismissed a radical proposal to overturn one of the financial system's core tenets.
The so-called sovereign money initiative, or "Vollgeld," would have ended the system of fractional reserve banking that has been around for centuries by allowing only the Swiss National Bank to "create" money. But 75.7 percent of voters rejected the measure, according to the government. ...
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2018-06-10/swiss-set-to-reject-s...

Jun 3, 2018

Russia to double gold extraction to become second-biggest producer - June 3, 2018 | GATA | THE GATA DISPATCH

Russia to double gold extraction to become second-biggest producer

Submitted by cpowell on 02:02PM ET Sunday, June 3, 2018. Section: Daily Dispatches From Russia Today, Moscow
Sunday, June 3, 2018
Major Russian gold mining companies are planning to almost double production. The increase could make Russia the world's second largest producer of the precious metal.
The country is currently third in the global rating of gold miners after Australia and China. However, that could change in less than a decade, according to Mikhail Leskov, deputy CEO at the Moscow-based Institute of Geotechnology, as quoted by Vedomosti.
 In 2017 Russia extracted 8.8 million ounces, accounting for 8.3 percent of total global production, according to data by the UK consultancy Metals Focus, as quoted by the media.
The newly discovered gold deposits will reportedly allow miners to increase extraction by half in seven years. By 2030 extraction is expected to grow by nearly eight million ounces. ...
... For the remainder of the report:
https://www.rt.com/business/428571-russia-gold-production-double/

* * *

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* * *
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
http://www.gata.org
To contribute to GATA, please visit:
http://www.gata.org/node/16

May 14, 2018

Jim Rickards provides the best summary of gold price manipulation-mAY 14, 2018: GATA | THE GATA DISPATCH

Jim Rickards provides the best summary of gold price manipulation

Submitted by cpowell on 01:01AM ET Tuesday, May 15, 2018. Section: Daily Dispatches 9:12p ET Monday, May 14, 2018
Dear Friend of GATA and Gold:
In his latest book, "The New Case for Gold," fund manager, geopolitical analyst, and financial letter writer James G. Rickards may have summarized the international gold price suppression scheme better than anyone, including GATA itself.
Indeed, the book's chapter titled "Paper Manipulation" is so expert, specific, and compelling that your secretary/treasurer today asked Rickards and his publisher, Penguin Publishing Group, for permission to share it with you, though it is far longer than excerpts for which reprint permission is customarily granted. Your secretary/treasurer argued that the chapter is really a historic document, containing information the world simply must have if it ever is to achieve free markets and a more democratic financial system.
 Rickards and Penguin quickly and most generously granted the request and provided PDF copies of the chapter's 15 pages. A link to them is appended. (The pages are excerpted from "The New Case for Gold" by James Rickards, in agreement with Portfolio, an imprint of Penguin Publishing Group, a division of Penguin Random House LLC, and are copyright 2016 by James Rickards.)
Remarkably, the book is available through Amazon for less than $11 and your secretary/treasurer enthusiastically recommends it:
https://www.amazon.com/New-Case-Gold-James-Rickards/dp/1101980761/ref=sr...
Here is your secretary/treasurer's summary of Rickards' outline of gold market manipulation:
-- It can be done by what gold market observers like to call "banging the close" in the Comex futures market, where there is huge leverage in trading and little transparency for buyers and sellers.
-- Big banks that are "authorized participants" in the gold exchange-traded fund GLD can use their exclusive access to the fund's metal for market rigging.
-- Gold from the U.S. gold reserve and the gold reserves of other countries may be leased, leveraged, or sold.
-- Leasing of unallocated gold -- that is, paper gold, gold credits, imaginary gold -- by bullion banks allows them to sell the same gold as much as 10 times over to 10 different buyers.
-- "A central bank," Rickards writes, "can lease gold to one of the London Bullion Market Association banks, which include large players like Goldman Sachs, Citibank, JPMorgan Chase, and HSBC. Gold leasing is often conducted through an unaccountable intermediary called the Bank for International Settlements. Historically, the BIS has been used as a major channel for manipulating the gold market and for conducting sales of gold between central banks and commercial banks. ... The BIS is the most nontransparent institution in the world. ... The BIS is the ideal venue for central banks to manipulate the global financial markets, including gold, with complete nontransparency."
-- The United States and China share an interest in suppressing the gold price in the short term. The Federal Reserve, Rickards maintains, doesn't so much mind an orderly rise in the gold price but fears sharp and sudden rises that could change inflationary expectations in the markets. China wants the gold price suppressed while it accumulates metal for hedging its huge foreign exchange position in U.S. dollars. The United States, Rickards writes, must accommodate China's accumulation of gold lest China sell its U.S. Treasury bonds. "This." Rickards writes, "is an issue I have discussed with senior officials at the International Monetary Fund and the Federal Reserve, and they have confirmed my understanding that a global rebalancing of gold from the West to the East needs to proceed, albeit in an orderly way. ... The United States is letting China manipulate the market so China can buy gold more cheaply. The Fed occasionally manipulates the market as well so that any price rise isn't disorderly."
-- Rickards concedes that ordinary investors cannot beat central bank manipulation of the gold market in the short run but contends that central banks will fail in the long run. Eventually, he writes, citing examples from history, "the manipulators run out of physical gold or a change in inflation expectations leads to price surges even governments cannot control. There is an endgame. ... Physical gold is also rapidly disappearing as more countries are buying it up. That puts a limit on the amount of paper gold transactions that can be implemented."
-- Rickards advises investors: "It's important to understand the dynamics behind gold pricing. You need to understand how the manipulation works, what the endgame is, and what the physical supply-demand picture looks like. Understanding these dynamics lets you see the endgame more clearly and supports the rationale for owning gold even when short-term price movements are adverse."
The PDF copy of Rickards' "Paper Manipulation" chapter is posted at GATA's internet site here:
http://www.gata.org/files/NewCaseForGoldExcerpt.pdf
Please read it carefully and send it to those market analysts who disparage complaints of gold market manipulation by governments and to mainstream financial news organizations that ignore the manipulation. Invite those analysts and news organizations to specify where and how they think Rickards is mistaken. While you're at it, invite them to dispute any of the documentation compiled at GATA's internet site here:
http://www.gata.org/taxonomy/term/21
Of course you're not likely to get any response but you just might wake somebody up or give him a guilty conscience. And if you purchase a copy of "The New Case for Gold" you may gain confidence that eventually truth, justice, and what used to be the American way will prevail.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * *

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Help keep GATA going:
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Apr 30, 2018

GATA | THE GATA DISPATCH: Venezuela stops paying $1 billion debt to Canadian gold miner

Venezuela stops paying $1 billion debt to Canadian gold miner

Submitted by cpowell on 08:09PM ET Monday, April 30, 2018. Section: Daily Dispatches By Jonathan Wheatley
Financial Times, London
Monday, April 30, 2018
Venezuela has stopped making payments on more than $1 billion it owes to a Canadian mining company, highlighting the country's extreme difficulties in paying off its overseas debt.
Gold Reserve sued Venezuela under the World Bank's dispute settlement system more than eight years ago over the expropriation of its gold-mining operations. The company finally agreed to a $1.03 billion settlement in September 2016, mostly to be paid in monthly instalments that began last July.
But fourth-quarter financial statements published by Gold Reserve at the end of last week show that the payments ended in November.
It follows an apparent cessation of payments to holders of Venezuela's sovereign bonds in September last year. ...
... For the remainder of the report:
https://www.ft.com/content/3c6180da-4c76-11e8-97e4-13afc22d86d4

Apr 16, 2018

GATA | THE GATA DISPATCH: Jay Taylor: How much longer can the American empire run on fake money?, April 16, 2018.

Jay Taylor: How much longer can the American empire run on fake money?

Submitted by cpowell on 10:42AM ET Monday, April 16, 2018. Section: Daily Dispatches 6:44a ET Monday, April 16, 2018
Dear Friend of GATA and Gold:
Financial letter writer Jay Taylor's new commentary, "How Much Longer Can the American Empire Run on Fake Money?," cites GATA's work and adds:
"The one currency that would put all nations on an even playing field would be gold. A gold standard would mean the United States would have to earn its way to wealth rather than print money to pay for endless wars, death, and destruction.
 "Nixon took us off the international gold standard in 1971 for that very reason, which enabled banks and financial institutions to get rich by impoverishing Americans with debt and job losses funded by bankers who have access to printing-press money. It also made it possible for America to fund endless wars with debt.
"But to keep the dollar viable, its leading competitor had to be held at bay. Hence smackdowns like the one this past Wednesday."
Taylor's commentary has been posted in the clear at Zero Hedge here:
https://www.zerohedge.com/news/2018-04-15/how-much-longer-can-american-e...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

Apr 10, 2018

GATA | THE GATA DISPATCH Correction to Allan Flynn's report on traders charged with 'spoofing'

Correction to Allan Flynn's report on traders charged with 'spoofing'

Submitted by cpowell on 10:59PM ET Tuesday, April 10, 2018. Section: Daily Dispatches 7p ET Tuesday, April 10, 2018
Dear Friend of GATA and Gold:
Allan Flynn of the "Comex, We Have a Problem" blog has made a correction in his recent report about traders charged with "spoofing" the monetary metals futures market, a report that was called to your attention by GATA last Friday here:
http://www.gata.org/node/18156
Flynn writes today that one of the traders accused, Andre Flotron, has not been accused of collaborating improperly with other traders. Flynn's corrected report is posted here:
http://comexwehaveaproblem.blogspot.com.au/2018/04/us-gold-silver-future...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

Mar 18, 2018

GATA | THE GATA DISPATCH : 3 New Articles:U.S. bank derivatives books larger since rescue of Bear Stearns, RT publishes detailed report by Ronan Manly on gold price suppression,What are all those monetary metals derivatives held by a few big U.S. banks? March 18,2018.

This digest includes 3 new articles:

U.S. bank derivatives books larger since rescue of Bear Stearns

Submitted by cpowell on 02:23AM ET Sunday, March 18, 2018
By Ben McLannahan
Financial Times
Saturday, March 16, 2018

RT publishes detailed report by Ronan Manly on gold price suppression

Submitted by cpowell on 11:59AM ET Sunday, March 18, 2018
6:55p ICT Sunday, March 18, 2018
Dear Friend of GATA and Gold:
Gold researcher Ronan Manly, whose work is regularly posted at Bullion Star and publicized by GATA, has provided to Russia Today a detailed report on the history and mechanisms of gold price suppression by major governments and central banks.

What are all those monetary metals derivatives held by a few big U.S. banks?

Submitted by cpowell on 03:55PM ET Sunday, March 18, 2018
11:03p ICT Sunday, March 11, 2018
Dear Friend of GATA and Gold:

Mar 14, 2018

GATA | THE GATA DISPATCH: Wyoming ends all taxation of gold and silver coins and bullion on arch 14, 2018.

Wyoming ends all taxation of gold and silver coins and bullion

Submitted by cpowell on 09:33PM ET Wednesday, March 14, 2018. Section: Daily Dispatches From the Sound Money Defense League, Eagle, Idaho
Wednesday, March 14, 2018
CHEYENNE, Wyoming -- Sound-money activists rejoiced as the Wyoming Legal Tender Act became law today. The bill restores constitutional, sound money in Wyoming.
Backed by the Sound Money Defense League, Campaign for Liberty, Money Metals Exchange, and in-state grassroots activists, HB 103 removes all forms of state taxation on gold and silver coins and bullion and reaffirms their status as money in Wyoming, in keeping with Article 1, Section 10 of the U.S. Constitution.
... Dispatch continues below ...


Introduced by state Rep. Roy Edwards, R-Gillette, HB 103 received a 55-5 favorable vote on final passage in the Wyoming House last week following Senate approval by a vote of 25-5. Gov. Matt Mead let HB 103 become law today without his signature. The most immediate impact of the new law, which formally takes effect on July 1, is to eliminate all Wyoming sales taxes when purchasing gold or silver. ...
... For the remainder of the announcement:
https://www.soundmoneydefense.org/news/2018/03/14/wyoming-ends-all-taxat...

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GATA | THE GATA DISPATCH -March 14, 2018.

Monetary Metals' Weiner responds but answers nothing

Submitted by cpowell on 04:53PM ET Wednesday, March 14, 2018. Section: Daily Dispatches Mr. Weiner, please allow us to introduce you -- for the umpteenth time -- to Alan Greenspan and Henry Kissinger.
* * *
1p ET Wednesday, March 14, 2018
Dear Friend of GATA and Gold:
Keith Weiner of Monetary Metals, whose recent commentary, "Super-Duper-Irrational Exuberance" was disputed by your secretary/treasurer yesterday --
http://www.gata.org/node/18102
-- today responds to the criticism but answers nothing about it.
In his "Open Letter to GATA," posted at GoldSeek here --
http://news.goldseek.com/GoldSeek/1521038153.php
-- Weiner continues to ignore all the documentation GATA has collected over nearly 20 years to show that central banks intervene surreptitiously in the gold market to control the price of the monetary metal as part of a scheme to control the currency and interest-rate markets generally. As he has failed before, he fails to address even one piece of the extensive documentation detailed yesterday.
... Dispatch continues below ...


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Instead Weiner blithely asserts, without any authority: "The central banks are in the gold market to make money -- which all agree means dollars. They seek to earn fees on what would otherwise be an asset with a negative yield." Even former Fed Chairman Alan Greenspan is on the record in congressional testimony from 1998 contradicting Weiner's fantasy:
https://www.federalreserve.gov/boarddocs/testimony/1998/19980724.htm
Greenspan testified: "Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over the counter, where central banks stand ready to lease gold in increasing quantities should the price rise."
With his testimony Greenspan was urging Congress not to try regulating financial derivatives, and among his arguments was that there was no need for Congress to worry about a corner in the gold market for central banks already controlled the price through gold leasing.
Weiner's assertion that central banks are in the gold market to make money through leasing is ridiculous on its face anyway, for central banks make money all by themselves. They are the manufacturers of money, empowered to create infinite amounts, and in the last decade they have done so with a vengeance. By comparison to the money they have created effortlessly, any money they have made through gold leasing wouldn't amount to the pocket change that has fallen behind their couch cushions.
As your secretary/treasurer noted yesterday, the desire and plan to control the gold price to protect the U.S. dollar's status as the world reserve currency was laid out in splendid detail in the minutes of a meeting in April 1974 in the office of U.S. Secretary of State Henry Kissinger. The secretary was told by his deputy, Thomas O. Enders, that control of the gold price was crucial to U.S. government policy because it conveys control of all world currency values and even control of the world financial system:
http://www.gata.org/node/13310
Weiner is welcome to his mathematical formulas for making money with gold, which he describes today in tediously distracting detail. His calculated distraction from the issue GATA long has been pressing is not welcome. It is dishonest.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * *

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Aug 23, 2016

GATA | THE GATA DISPATCH - August 23, 2016: Monetary Policy Has Nationalized Japanese Stock Market, CLSA Analyst Says

Submitted by cpowell on August 23, 2016
"There are no markets anymore, just interventions." -- High School Graduate, GATA Washington conference, April 18, 2008.
* * *
By Leslie Shaffer
CNBC, New York
Monday, August 22, 2016
Even a resurgent yen hasn't dampened Japan's stock rally over the past couple months, but that's not necessarily because investors like the market.

Jul 25, 2016

GATA | THE GATA DISPATCH - July 25, 2016: Lawrie Williams: Swiss Gold Stats Show Continuing Flows Back to West

Submitted by cpowell on  Monday, July 25, 2016
Monday, July 25, 2016
Lawrie Williams, market analyst for the Sharps Pixley bullion house in London, writes today that the flow of gold out of Asia and back into Switzerland and London is continuing, apparently because of demand in the West for metal represented by shares of exchange-traded funds. Williams' commentary is headlined "June Swiss Gold Statistics Highlight Continuing Reverse Gold Flows" and it's posted at Sharps Pixley's Internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

May 30, 2016

GATA | THE GATA DISPATCH on May 30th, 2016: Ronan Manly: London Precious Metals Clearing's Objective is Ignorance.


Submitted by cpowell on May 30, 2016Monday, May 30, 2016

Gold researcher Ronan Manly today examines London Precious Metals Clearing Ltd., a conglomerate of the major gold-trading institutions in London, and concludes that its objective is to keep the world ignorant of the manipulation of the price of the monetary metal.

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