news.goldseek.com >> 29 July 2020

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA
If the FT thinks the gold price is unpleasantly high now, what will the price be if the world ever realizes that most of the gold it thought it owned doesn't exist and never did? If the world ever finds out, it may fairly ask why the FT never reported it, though documentation of central bank gold price suppression policy has been delivered to the newspaper many times over the last 20 years without prompting the newspaper to put a single critical question to any central bank.

news.goldseek.com >> 28 July 2020

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA
The documentation has been provided constantly to major financial news organizations but almost always ignored, being considered a national security issue.

Has CBS News ever put a critical question to a central bank? Has any mainstream financial news organization ever done that?

If mainstream financial news organizations ever attempted journalism in regard to the gold market, central bank policy based on deception would fail instantly.

news.goldseek.com >> 27 July 2020

Robert Lambourne: BIS gold swaps and derivatives fall slightly in June but still unusually high
By: Robert Lambourne
The BIS, which acts as a broker for many central banks, is estimated to have reduced its position in gold swaps and gold-related derivatives to 391 tonnes in June, down 21 tonnes from the 412 tonnes estimated at the end of May.

The bank's use of gold swaps and derivatives still shows a robust increase in the last 13 months, In May last year it was only 78 tonnes.

news.goldseek.com >> 24 July 2020

New LME contract will slam 'paper gold,' foretell price 'reset,' Maguire says
By: Chris Powell, GATA
London metals trader Andrew Maguire, interviewed this week by the TF Metals Report's Craig Hemke for Sprott Money, says the London Metal Exchange soon will offer a gold contract much more closely tied to physical delivery than competing contracts, putting heavy pressure on the "paper gold" system.

news.goldseek.com >> 13 July 2020

Rep. Mooney seeks to audit gold intervention, ban federal tax on precious metal coins
By: Chris Powell, GATA
Surreptitious intervention in the gold market by the U.S. government is the target of legislation introduced in the House of Representatives by Rep. Alex X. Mooney, R-West Virginia.

In a letter to House colleagues seeking support for his Gold Reserve Transparency Act, H.R. 2559, Mooney writes: "Because there are concerns the U.S. Treasury may have sold, swapped, leased, or otherwise placed encumbrances upon some of America's gold, H.R. 2559 also requires a full accounting of any and all sales, purchases, disbursements, or receipts; a full accounting of any and all encumbrances, including due to lease, swap, or similar transactions in existence or entered into in the past 15 years; and an analysis of the sufficiency of the measures taken to ensure the physical security of such reserves."

news.goldseek.com >> 2 July 2020

Canadian tax authorities recover C$82 million from Kitco in fraud case
By: GATA
This news report, translated from the original French, is 2 years old but seems to have escaped notice outside Quebec.

Revenu Quebec argued that Kitco owed it at least C$284 million for claiming and obtaining tax refunds to which the company was not entitled. According to publicly available information, the taxman ultimately receive only $50 million of this amount.

news.goldseek.com >> 30 June 2020

Another ignorant 'expert' dismisses complaints of gold market rigging
By: Chris Powell, GATA
In an essay posted today at FX Empire, "Gold Market Manipulation and the Federal Reserve," financial planner Kelsey Williams both admits and dismisses complaints of manipulation of the gold market.

Williams doesn't identify the people he purports to be rebutting, but his characterization of them doesn't fit GATA, even though he seems to think it does.

news.goldseek.com >> 24 June 2020

Gold investment risks are higher in countries without U.S. currency swaps, Marin Katusa says
By: Chris Powell, GATA
There may be something to this hypothesis, but it strikes your secretary/treasurer as weak. For if gold goes to the moon in some sort of international currency reset, it is hard to imagine any country, regardless of U.S. swap lines, not at least revising upward its mining royalty requirements.

But even then there might be plenty of money for the miners and their host governments alike. After all, governments are not terribly skilled at managing industrial operations -- even communist China, whose government is said to purchase all domestic gold production, permits some foreign investment in its gold mines.

news.goldseek.com >> 18 June 2020

Regulators are kicking Scotiabank out of gold, London trader Maguire says
By: Chris Powell and Andrew Maguire
In a discussion with your secretary/treasurer this week, London metals trader and Kinesis Money founder Andrew Maguire says longtime metals bank Scotiabank is not only closing its metals trading desk but getting out of the vaulting business and all involvement with gold. Maguire says Scotiabank's withdrawal is a "forced regulatory decision," puts in doubt the resolution of the bank's gold positions, creates risks for the bank's counterparties, and raises the prospect of lawsuits.

news.goldseek.com >> 12 June 2020

BIS activity in gold reached three-year high in May
By: Robert Lambourne
The data in the May statement indicates that the BIS increased its position in gold swaps and gold-related derivatives by 84 tonnes, bringing the total to 412 tonnes. For context, Turkey is reported to have the 14th largest gold reserves with about 412 tonnes. Hence the May swaps by the BIS represent a significant chunk of gold.

The increase in the BIS' use of gold swaps and derivatives is especially dramatic over the last 12 months, since last May the total stood at only 78 tonnes. One has to return to March 2017 to find a higher level of gold swaps reported by the BIS -- 438 tonnes.

news.goldseek.com >> 8 June 2020

Chaotic Price Swings Will Be Engineered to Shake off Gold Investors
By: Chris Powell, GATA
A European friend well known to us who prefers not to fall under even more surveillance in his own country sends the observations below, for which your secretary/treasurer will take the responsibility of sharing with you.

His main point -- that huge volatility will be injected into the gold market to facilitate government intervention elsewhere in the world financial system -- echoes the cable sent from the U.S. embassy in London to the State Department in Washington on the eve of the creation of the gold futures market in New York in 1974.

news.goldseek.com >> 2 June 2020

Gold intervention by BIS held steady in March and April as study hints it's done for Fed
By: Robert Lambourne
The Bank for International Settlements, which acts as an agent for most central banks, appears to have made little change in its use of gold swaps. The BIS is estimated to have increased its position in gold swaps and gold-related derivatives by 6 tonnes in March to 332 tonnes, and then to have decreased it by 4 tonnes in April to 328 tonnes.

news.goldseek.com >> 18 May 2020

GATA asks CFTC if it has ever audited Comex gold
By: Chris Powell, GATA
The letter asked:

"-- Has your commission ever audited the gold kept in Comex-approved vaults and reported to the commission as registered or eligible for sale and delivery?

"-- If such audits have been conducted, when and what did they find?

"-- Who conducted these audits?

"-- Were these audits ever made public? If so, when and how? May we see them?

"-- Are future audits planned? If so, when and who will conduct them?"

news.goldseek.com >> 15 May 2020

British university study confirms gold market manipulation protects U.S. assets
By: Chris Powell
The coronavirus pandemic has created enormous volatility in global financial markets but prices of safe-haven assets such as gold and bitcoin are not surging as one might expect, thanks to intense and large-scale manipulation, according to analysis by the University of Sussex Business School.

news.goldseek.com >> 26 April 2020

Congressman presses CFTC: Does it have jurisdiction over manipulative trading by government?
By: Chris Powell, GATA
U.S. Rep. Alex X. Mooney, R-West Virginia, is pressing the U.S. Commodity Futures Trading Commission to answer the critical questions about market manipulation the commission long has refused to answer lest it expose the U.S. government's rigging of the futures markets and especially the gold and silver futures markets.

In a letter dated April 13 and made public this week, Mooney reminded the commission that it had evaded the key questions asked in his previous letter and that the questions are capable of yes-or-no answers:

news.goldseek.com >> 20 April 2020

So what happened to that wonderful new 400-ounce-bar Comex gold futures contract?
By: Chris Powell, GATA
Maguire says: "The new 4GC contract is not being marketed by CME Group. This raises a major red flag. In fact, it increasingly looks like this contract is not fit for purpose and is just smoke and mirrors.

"All the news reports from last week through this week were touting phantom chartered airplanes full of 400-ounce bars being transported to New York. If this was true, the bullion is missing.

news.goldseek.com >> 6 April 2020

How much gold does China really have and how will it be used?
By: Chris Powell, GATA
The gold directly possessed and controlled by the Chinese government is surely greater than what the government has reported.

We know this because China has reported its gold reserves at irregular intervals with big jumps in reserves between intervals. That metal was not acquired all at once but over time during which there were no public updates to reserve totals.

We also know that other countries sometimes have held gold in accounts not reported to the International Monetary Fund. Saudi Arabia got caught doing this in 2010..

news.goldseek.com >> 27 March 2020

Gold traders are paid not to redeem Comex EFPs, London sources say
By: Chris Powell
What the heck are those mysterious "exchange for physicals," the mechanisms by which contracts to buy gold on the New York Commodities Exchange are neither fulfilled by delivery on the Comex nor settled for cash there but transported for supposed delivery elsewhere?

news.goldseek.com >> 17 March 2020

As Infinite Money Chases Collapsing Production, Gold Is on Call
By: Chris Powell, GATA
But governments will pay a big cost for obtaining help from the monetary metals -- the cost of long-term competition for their currencies and maybe even the cost of the return of market economies and limited government.

Whatever happens, may it be done in the open, for all to see and understand, and after decades of official lies, rigging, and corruption, fiat justitia ruat caelum.

news.goldseek.com >> 16 March 2020

Is This the End of Gold or the End of Gold Market Rigging?
By: Chris Powell, GATA
How much of last week's smash in monetary metals prices was caused by what seems to be the primary explanation for it -- selling required to meet margin requirements for positions in other markets that were falling amid the worldwide virus panic?

Surely there was some of that, but suspicion also must fall on governments and central banks seeking, as they long have done in times of crisis, to bolt the exits from the financial system, which they control. This suspicion must be especially strong because of what GATA disclosed last week -- the refusal of the U.S. Commodity Futures Trading Commission to answer a member of Congress as to whether the commission has jurisdiction over manipulative futures trading conducted by or for the U.S. government and whether the commission is aware of such trading...

news.goldseek.com >> 11 March 2020

CFTC refuses to say if it has jurisdiction over manipulative futures trading by government
By: Chris Powell, GATA
Does the U.S. Commodity Futures Trading Commission have jurisdiction over manipulative futures trading by the U.S. government, other governments, or brokers acting for them?

Is the commission aware of futures trading by governments?

news.goldseek.com >> 10 March 2020

BIS gold market intervention increased again in February
By: Robert Lambourne
The bank's use of gold swaps and derivatives has risen by more than 300 percent since May 2019, when it stood at 78 tonnes.

The BIS uses gold swaps and other gold derivatives to gain access to gold held by commercial banks.

news.goldseek.com >> 9 March 2020

Today at least may end the pretense of a market economy
By: Chris Powell, GATA
Central bankers likely are working late tonight to devise the coordinated intervention Henrich predicts and investment banks and brokers everywhere are praying for, intervention presumably to be announced and undertaken by the opening of European markets in a few hours. Maybe the European central banks and the U.S. Federal Reserve or Treasury Department will start buying stocks openly and directly instead of though intermediary banks in an attempt to cushion the crash of inflated asset values.

This will not be the end of the world's market economy. As even a high school graduate could discern 12 years ago, and as perhaps only a high school graduate could afford to assert back then, "There are no markets anymore, just interventions":

news.goldseek.com >> 27 February 2020

You can distinguish conspiracy theories from conspiracy facts, if you really want to and try
By: Chris Powell, GATA
Call us anything you want, just not late for dinner, since, politically incorrect as GATA is, we're glad of almost any attention. Indeed, GATA is honored to be mentioned in the same breath as Zero Hedge, whose audience is a million times larger than ours, just as we're delighted that the head of investment research at a Swiss currency trading house apparently has taken some notice of our work.

But GATA always cordially invites those who call us "conspiratorial" to examine the documentation behind our work. We present it assiduously, even tediously..

news.goldseek.com >> 25 February 2020

Who smashed gold yesterday afternoon? Let's 'round up the usual suspects'
By: Chris Powell, GATA
Somebody seems to have dumped a lot of gold derivatives on the market this afternoon, and Zero Hedge estimates it at $3 billion worth and attributes it to the Bank for International Settlements:

There may not yet be any public evidence tying this particular attack to the BIS, but whoever did it plainly meant to drive the price down rather than to take profits on a long position, since you don't take profits by driving the price down all at once but by selling gradually enough not to crash the price.

news.goldseek.com >> 10 February 2020

Gold market intervention by BIS is at highest level for nearly a year
By: Robert Lambourne
Since May 2019 the Bank for International Settlements, which represents most central banks, has increased its use of gold swaps and other gold-related derivatives by more than 400 percent, from an estimated 78 tonnes to an estimated 320 tonnes

The BIS uses gold swaps and other gold derivatives to gain access to gold held by commercial banks. According to the bank's January 31 statement of account the bank's swaps and derivatives, estimated at 320 tonnes, were at their highest level since February 2019.

news.goldseek.com >> 4 February 2020

These days Yamashita's gold is just a futures contract for hallucination
By: Chris Powell, GATA
Surely Japan looted Asia during its operation of what it called the Greater East Asia Co-Prosperity Sphere, which briefly replaced Western colonialism with Japanese colonialism. And surely there is more monetary gold in the world than officially reported.

For starters, the true location and disposition of government gold reserves long have been secrets more sensitive than the location and disposition of nuclear weapons. Official gold reserve data is commonly falsified under International Monetary Fund policy..

news.goldseek.com >> 31 January 2020

Gold market intervention by BIS rose sharply in December
By: Robert Lambourne
Since May 2019 the Bank for International Settlements, which represents most central banks, has increased its use of gold swaps and other gold-related derivatives from an estimated 78 tonnes to an estimated 313 tonnes as of December 2019.

The bank's total gold swaps and derivatives stood at 250 tonnes in November 2019.

news.goldseek.com >> 30 January 2020

Paul Mylchreest: LBMA disconnects gold's price from metal's fundamentals
By: Chris Powell, GATA
Our friend Paul Mylchreest, now an analyst for financial research firm Hardman & Co. in London, demolishes the London Bullion Market Association with an "open letter" released today, blaming the group's trading and reporting systems for suppressing the offtake of gold to about 5 percent of what it would be otherwise. These systems, Mylchreest suggests, benefit primarily the LBMA's major members, bullion banks that short the metal, as well as central banks.

LBMA operations, Mylchreest writes, contrive a price for gold credit and derivatives rather than for the metal itself, and as a result the nominal price of gold has been declining for years even as fundamental factors in favor of gold have been strengthening.

news.goldseek.com >> 6 January 2020

'We must get a winner one day': Why it might be tomorrow
By: Chris Powell, GATA
Our friend B.A. tonight challenges optimism among gold and silver investors that the latest crisis in the Middle East will explode Western central banking's longstanding gold price suppression policy.

Ordinarily your secretary/treasurer would agree with him and change the channel from news to anything promising comic relief. After all, these geopolitical crises never mean anything to the monetary metals after a day or two. Your secretary/treasurer hates them for distracting people from the reasons provided by the world financial system for higher gold and silver prices.

news.goldseek.com >> 26 December 2019

The signs swirl all around us, so is the reset at hand?
By: Chris Powell, GATA
For most of this decade owning gold and gold-related investments has required the patience of Job, and the sector is so obscure that it is hard to be sure of anything. But for months now the unusual developments have been piling up so much that it may be possible to regain some optimism.

There are indications of a shortage of metal not just at the New York Commodities Exchange, where for months now most contracts have been settled through a supposedly "emergency" procedure called "exchange for physicals," but also in London, the hub of the world gold market, where the usual flow of metal to Switzerland recently reversed, with metal flowing back to London amid increasing demand. This corresponded with announcements of gold acquisitions by central banks that had not shown any interest in gold.

news.goldseek.com >> 23 December 2019

CIA memo explains how IMF's Special Drawing Rights were meant to displace gold
By: Chris Powell, GATA
Our friend Stuart Englert, who is writing a book on gold price suppression, calls attention to a declassified 1970 Central Intelligence Agency memorandum asserting that the Special Drawing Rights of the International Monetary Fund were created in 1967 in large part to reduce the world's demand for gold and particularly to reduce exchange of U.S. dollars, the world reserve currency, for gold.

The creation of SDRs corresponded with the troublesome increase in offtake from the London Gold Pool, through which the United States and seven allied governments in Western Europe dishoarded metal from their reserves to hold the official dollar-gold exchange rate at $35 per ounce. The pool collapsed in March 1968..

news.goldseek.com >> 18 December 2019

Robert Lambourne: BIS gold swaps and derivatives at highest point since February
By: Robert Lambourne
In the past two months the Bank for International Settlements, which represents most central banks in the world, has nearly doubled its gold swaps and derivatives position, the bank's October and November statements of account show.

The BIS uses gold swaps and other gold derivatives to gain access to gold held by commercial banks. As of November 30 the bank's swaps and derivatives, estimated at 250 tonnes, were at their highest level since February. But the recent levels are still much reduced compared compared to those of the second half of 2018.

news.goldseek.com >> 2 December 2019

New York Fed misrepresented disclosure rules to GATA, but so what?
By: Chris Powell, GATA
"The New York Fed's response points to purported Dodd-Frank law rules prohibiting disclosing for two years of the identities of banks that receive 'loans made under discount window programs.' I believe that the New York Fed's response was a cute evasion that may be exposed by specifying the loan types about which GATA sought information..

news.goldseek.com >> 18 November 2019

Gold swaps by BIS rose 45% -- 58 tonnes -- in October
By: Robert Lambourne
Its statement of account for October shows that the Bank for International Settlements continues actively trading in gold swaps. The BIS uses gold swaps and other gold derivatives to gain access to gold held by commercial banks. Recent swap levels remain much lower than they were in the second half of 2018, although the level of swaps as of October 31, an estimated 186 tonnes, was the highest recorded since February 28.

New Comex gold collateral mechanism seems meant to rescue HSBC
By: Dave Kranzler
On November 4 authorization for traders on the New York Commodities Exchange to use "London gold" and Comex gold warrants as collateral was tripled, raised from $250 million to $750 million. HSBC now has used $340 million, or 45.3 percent, of its new collateral limit. It seems more than coincidental that HSBC took advantage of the collateral increase so soon after it was put into effect.

I see the rule change as a low-grade bailout of HSBC, analogous to the Fed's low grade bailout of the big banks with the "repo" "quantitative easing." The rule change also flags HSBC as the largest trader in the commitment-of-trader category that designates the percentage of the long and short contracts held by the four largest traders on the Comex.

Assuming, as is likely, that HSBC's short position was largely put on at lower gold prices, the bank is probably getting hammered with a mark-to-market loss.

news.goldseek.com >> 14 November 2019

Wait two years for disclosure of repo cash recipients and amounts, New York Fed tells GATA
By: Chris Powell, GATA
If you want to know which investment houses have been getting the infamous "repo" loans from the Federal Reserve Bank of New York in recent weeks, as GATA has wanted to know, you'll have to wait two years, according to a letter received from the bank today in response GATA's request for the information.

The delay, the New York Fed's letter says, is authorized by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Perhaps more interestingly, the New York Fed's letter, signed by Corporate Secretary Shawn Elizabeth Phillips, contends that the bank is exempt from the federal Freedom of Information Act but tries to comply with its spirit.

news.goldseek.com >> 13 November 2019

Congressman prods attorney general on gold, silver trading questions ignored by CFTC
By: Chris Powell, GATA
In a letter dated November 1 and made public today, the U.S. representative, Alex W. Mooney, Republican of West Virginia, commends Barr for the Justice Department's recent criminal prosecution of manipulation in the monetary metals futures markets. But Mooney calls attention to the explosion in use of a mechanism called "exchange for physicals" for settling metals futures contracts in the United States, a mechanism that, Mooney contends, may pose "some danger of a systemic issue" if, as seems to be the case, those settlements are being transferred to European markets.

news.goldseek.com >> 3 November 2019

Gold market manipulation update, November 2019
By: Chris Powell, GATA
Remarks by Chris Powell, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
New Orleans Investment Conference

Since we gathered here a year ago the gold and silver markets feel much stronger.

The central bank-instigated smashdowns that used to depress prices for weeks or even months are failing to keep prices down for more than a few days.

The gold futures market of the New York Commodities Exchange is operating very differently. Most contracts seeking delivery are now being converted through a rarely used mechanism called "exchange for physicals" whereby they are settled somewhere off the exchange, apparently in London. Until recently the "exchange for physicals" mechanism was said to be used only in emergencies. Now it seems that everything is an emergency. The implication here is that there is little or no gold available immediately in Comex vaults. Whatever it means, there is a huge change here.

news.goldseek.com >> 29 October 2019

BIS gold swaps fell in September
By: Robert Lambourne
The Bank for International Settlements has just published its statement of account for September and it indicates that the bank continues to trade gold swaps. The BIS uses gold swaps and other gold derivatives to gain access to gold held by commercial banks. But recent swaps remain at much-reduced levels compared to the second half of 2018.

There is not enough information in the monthly reports to calculate the exact amount of swaps, but based on the information in the BIS statement of account for September, the bank's month-end gold swaps are estimated to be 128 tonnes.

news.goldseek.com >> 7 October 2019

Why fiat currency requires gold price suppression forever
By: Chris Powell, GATA
"After reading recent commentaries noting that the U.S. Justice Department and Commodity Futures Trading Commission are overlooking the long-term suppression of the gold price while indicting individual traders for spoofing the gold and silver futures markets, I wondered why the authors did not acknowledge a simple likely explanation.

"That is, one or two bullion banks may be trading on behalf of the U.S. government to suppress gold and silver prices, either at a profit or at the lowest possible loss. Such trading by or at the behest of the U.S. government appears to be legal, so the Justice Department and CFTC do not pursue it.

news.goldseek.com >> 30 September 2019

Schiff wallows in 'conspiracy theory,' never addresses conspiracy fact
By: Chris Powell, GATA
Euro Pacific Capital's Peter Schiff said this week that the recent indictments of three more traders at JPMorganChase on charges of manipulating the monetary metals market "do not vindicate all the conspiracy theories alleging that there has been a concerted effort by big banks to artificially suppress the price of gold in order to keep the fiat monetary system going."

Of course the indictments don't vindicate "all" the "conspiracy theories" -- and who said they did?

news.goldseek.com >> 23 September 2019

Imagine what might happen if the FT asked more critical questions
By: Chris Powell, GATA
Why did the London Bullion Market Association drop JPMorganChase commodity trading desk chief Michael Nowak from its board of directors this week?

Probably not because Nowak was indicted by the U.S Justice Department, accused of racketeering with other Morgan traders in part of the longstanding manipulation of the monetary metals markets. For the indictment was announced Monday and the LBMA did not drop Nowak until Friday.

news.goldseek.com >> 19 September 2019

Morgan's 'spoofing' isn't the big manipulation GATA has pursued, but we'll take it for now
By: Chris Powell, GATA
Delighted as we all may be with this week's news -- the new indictments of JPMorganChase employees involved with the gold market, the U.S. Justice Department's designation of the investment bank as a criminal enterprise, and the prospects of more indictments -- GATA has to admit a couple of things about the situation.

First, the market manipulation of which the bank's employees and supervisors stand accused -- rigging prices largely by "spoofing" other traders -- is not the sort of manipulation GATA long has complained about.

BIS gold swaps rose in August but still lower than last year
By: Robert Lambourne
The July and August statements of account for the Bank for International Settlements indicate that the bank has continued to engage in gold swaps this summer. The BIS uses swaps and other gold derivatives to gain access to gold held by commercial banks.

But recent swap levels at the BIS remain much lower than in the second half of last year.

news.goldseek.com >> 10 September 2019

Congressman keeps pressing Treasury, CFTC about gold market rigging
By: Chris Powell, GATA
U.S. Rep. Alex X. Mooney, R-West Virginia, is continuing his efforts to get answers from the U.S. Treasury Department, Federal Reserve, and Commodity Futures Trading Commission about surreptitious interventions by the U.S. government in the financial and commodity markets and particularly the gold and silver markets.

news.goldseek.com >> 27 August 2019

Chinese government newspaper suggests return to gold standard
By: Chris Powell, GATA
The editor of the Global Times, Hu Xijin, increasingly is cited in news reports around the world as a de-facto spokesman for the Chinese government. So his newspaper's publication of the Anbound commentary may be taken as more evidence that China sees gold as a primary vehicle of escaping domination by the U.S. dollar.

That may explain the unusual strength of the gold price in recent months, especially since many analysts long have maintained that China has not been fully reporting increases in its gold reserves.

The Anbound commentary in the Global Times is headlined "World Needs to Prepare for Return to Gold Standard as Washington Disrupts Financial Order" and it's posted here..

news.goldseek.com >> 9 August 2019

No hope for metals, or a 'controlled retreat' by central banks?
By: Chris Powell, GATA
"What I see, despite all the excitement of gold and silver bugs, is the setting of a bull trap much like what happened to silver at the hands of [White House Chief of Staff] Bill Daley when silver was allowed to run up to nearly $50 and then was smashed down to take all the wind out of the sails of the silver bulls, and silver has remained firmly under the control of the market riggers since, trapped in a narrow trading range between $14 and $17 for years now.

"Once they get as many longs in the bull trap as they can, they will smash silver again as they always do. As long as prices are set on the New York Commodities Exchange, there is no hope...

news.goldseek.com >> 7 August 2019

Central banks change their policy on gold but not their madness
By: Chris Powell, GATA
Over a weekend in April six years ago, without any corresponding news, the gold price was smashed out of the blue for nearly $200. For months before the smash analysts often said that China had put a floor under the gold price, buying whatever it could to hedge its U.S. dollar exposure without pushing gold's price up too much.

That analysis made sense, since, with its estimated $3 trillion in foreign-exchange reserves, mostly in U.S. dollar instruments, China was in a position to control any market on the planet.

But over that weekend in April six years ago the supposed Chinese floor under gold disappeared...

news.goldseek.com >> 5 August 2019

As gold and silver catch fire, what's happening?
By: Chris Powell, GATA
A friend who has not been paying close attention to the gold market for a while asked your secretary/treasurer this afternoon for a summary of his outlook. With the monetary metals on fire tonight as they have not been for a long, long time, maybe the reply is worth sharing:

1) The gold market has felt very different for months -- felt much stronger.

2) The usual central bank-instigated smashdowns, which used to depress the price for weeks or months, now are failing to keep the price down for more than a day or two.

3) Read more...

news.goldseek.com >> 26 July 2019

Central banks let gold market coordination pact expire without replacement
By: Chris Powell, GATA
Today the European Central Bank announced the expiration without replacement of the latest central bank gold agreement. The ECB's announcement is appended.

What does it mean?

The announcement attributes the decision to let the agreement expire to the gold market's having become "mature," but how did the gold market suddenly "mature" when, upon the signing of the first central bank gold agreement in 1999, it was already a few thousand years old?

news.goldseek.com >> 21 July 2019

FT's Martin Wolf: Who cares about the prices of useless metals and market rigging?
By: Chris Powell, GATA
At least the Financial Times now has come clean about its hostility to gold -- as well as to free markets and elementary journalism.

This weekend GATA's friend Chris Kniel of Orinda, California, sent to the newspaper's chief economic columnist, Martin Wolf, the excellent summary of gold and silver market manipulation just written by Bullion Star gold researcher Ronan Manly, "Gold and Silver Price Manipulation -- The Greatest Trick Ever Pulled"..

news.goldseek.com >> 18 July 2019

With Willem Middelkoop essay, central bank forum takes a shine to gold
By: Willem Middelkoop
Last year 22 central banks, situated largely to the east of Germany, bought the largest amount of gold since 1967, the year the London Gold Pool collapsed. The gold repatriations by many European countries of the last few years are another sign that we are reaching the end of four decades of monetary calm. This could bring about the largest monetary changes since the closing of the gold window by U.S. President Richard Nixon in 1971.

The United States wants its fiat dollar system to prevail for as long as possible. It has every interest in preventing a "rush out of dollars toward gold," as happened in the 1970s. Since then bankers have been trying to exercise control over the precious metal's price. This war on gold has been ongoing for almost 100 years but gained traction in the 1960s with the forming of the London Gold Pool, whose members included the US, UK, Netherlands, Germany, France, Italy, Belgium, and Switzerland.

news.goldseek.com >> 15 July 2019

Modern Monetary Theory is fact and practice, and market rigging is its consequence
By: Chris Powell, GATA
Modern Monetary Theory, which has been getting much attention lately, is so controversial mainly because it is misunderstood.

It is misunderstood first because it is not a theory at all but a truism.

That is, MMT holds essentially that a government issuing a currency without a fixed link to a commodity like gold or silver is constrained in its currency issuance only by inflation and devaluation.

BIS' gold swaps rise slightly in June but are down sharply since last year
By: Robert Lambourne
The Bank for International Settlements' has just published its statement of account for June and it indicate that the bank is still actively trading gold swaps, which the bank uses to gain access to gold held by commercial banks. But recent activity appears to be much reduced from the second half of 2018.

news.goldseek.com >> 12 July 2019

Why do regulators ignore market rigging? Because government does it and it's legal
By: Chris Powell, GATA
Unfortunately Butler can't seem to acknowledge the probability that these enforcement agencies fail to act against market rigging because the actual perpetrator is the U.S. government itself, operating through intermediary brokers, and because such rigging is legal.

That probability is greater because of the refusal of the U.S. Treasury Department and Federal Reserve to answer the simple question posed to them more than a year ago by U.S. Rep. Alex Mooney, R-West Virginia: Which markets are you secretly trading in, and why?

news.goldseek.com >> 11 July 2019

Member of Parliament urges investigation of gold-market manipulation in UK
By: Chris Powell, GATA
Citing a confession to gold market manipulation in the United States, a member of Parliament this week urged the British government to investigate possible manipulation of the gold market in London.

The member, Jeremy Lefroy, Conservative for Stafford, prompted a discussion of manipulation during a speech Monday in the House of Commons. Lefroy questioned the economic secretary to the U.K. Treasury, John Glen, Conservative member for Salisbury, as to whether the government was able to prevent gold market manipulation.

Glen responded that the U.K.'s Financial Conduct Authority has "the right tools" and the jurisdiction to "detect and respond" to attempts at market manipulation. But he did not directly respond to Lefroy's request for an investigation.

news.goldseek.com >> 19 June 2019

Robert Lambourne: BIS' activity in gold market continues to diminish
By: Robert Lambourne
The statement of account for May 2019 of the Bank for International Settlements, published this week, indicates that the bank is still trading gold swaps, which the bank uses to gain access to gold held by commercial banks. But the statement indicates that bank's recent activity in the gold market is much reduced from its activity during the second half of 2018.

news.goldseek.com >> 11 June 2019

Obviousness of gold market rigging helps central banks but there's a limit
By: Chris Powell, GATA
"As more investors see that the gold market is relentlessly and successfully suppressed," C.W. writes, "they (to quote Sam Goldwyn) 'stay away in droves.' The suppressors have found that there are no sanctions against their activities and so have concluded that the more widespread the belief that they are controlling the gold price, the better. That is why the rigging is so obvious.

"Although Stein's Law ("If something can't go on forever, it will eventually stop") applies here, I am not sure I will live long enough to see it, and such a feeling also depresses sentiment."

news.goldseek.com >> 30 May 2019

More great research by Incrementum -- and all beside the point
By: Chris Powell, GATA
Liechtenstein-based investment fund Incrementum's annual "In Gold We Trust" report, compiled by Ronald-Peter Stoeferle and Mark J. Valek, was published this week and again described the reasons for gold's glorious prospects. Among them:

-- Loss of trust in international relations and everyday society amid ever-more-polarized politics.

-- Gold's generally good performance in most currencies apart from the U.S. dollar.

-- The extreme lows at which commodity prices generally now reside, implying a reversal.

-- Increasing purchases by central banks.

news.goldseek.com >> 24 May 2019

BIS reduces its gold swaps by two-thirds over last two months
By: Robert Lambourne
On the face of it this seems an odd coincidence. But if the gold swaps were undertaken with the intent of trying to suppress the price of gold, then perhaps this is not a coincidence. Perhaps the BIS' counterparty to the swap was willing to undertake it if it was not only entitled to the return of its gold swapped with the BIS but also protected from a fall in the price of gold for the duration of the swaps.

In itself this unusual transaction does not prove gold price suppression but it would be wholly consistent with price suppression being the real reason for the swap.

The BIS when approached by GATA continues to refuse to explain its activity in the gold market..

Does Ray Dalio really not know better than to invest in GLD?
By: Chris Powell, GATA
Fighting gold price suppression by central banks and their market rigging generally would be a lot easier with the help of some of those people who have great resources and purport to be gold advocates themselves but who knowingly or unknowingly assist the other side.

One of those people is billionaire Ray Dalio, founder of investment fund Bridgewater Associates..

news.goldseek.com >> 22 May 2019

U.S. Global's Holmes confronts the monetary metals sector with proofs of manipulation
By: Chris Powell, GATA
With his column today, U.S. Global Investors CEO Frank Holmes does a spectacular job interviewing your secretary/treasurer about GATA's work to expose central banking's policy of gold price suppression.

The interview is more spectacular for being produced by a much-respected organization within the gold sector, much of which long has shunned GATA for our alerting monetary metals investors to what they're up against.

As fund manager and author Jim Rickards said on CNBC a decade ago, "When you own gold you're fighting every central bank in the world."

news.goldseek.com >> 6 May 2019

If gold investors are puzzled, it's from a lack of financial journalism
By: Chris Powell, GATA
Maybe some gold investors share Wyckoff's supposed puzzlement, but not all. In any case Wyckoff himself, most other analysts quoted by Kitco News, and financial journalism generally are to blame for any puzzlement.

For when has Wyckoff or any other analyst quoted by Kitco addressed the possibility of central bank intervention against gold, intervention that has a long history in Western government policy?

news.goldseek.com >> 29 April 2019

No one in authority helped the monetary metals cause as much as Bart Chilton did
By: Chris Powell, GATA
While the former member of the U.S. Commodity Futures Trading Commission, Bart Chilton, disappointed some monetary metals investors, he was a hero to GATA for several reasons.

First, he forced the commission to take public testimony from GATA Chairman Bill Murphy and GATA Director Adrian Douglas at the commission's much-publicized hearing on the monetary metals markets in March 2010. This brought national attention to our issue.

Second, he repeatedly gave credence in public to complaints of manipulation of the gold and silver markets.

Third, he conscientiously answered mail from ordinary investors and others...

news.goldseek.com >> 15 April 2019

Why won't Jim Grant ever say gold is rigged like stocks and interest rates?
By: Chris Powell, GATA
Thanks to Zero Hedge for calling attention tonight to the interview of the Zurich-based financial letter The Market with James Grant, editor of Grant's Interest Rate Observer, wherein Grant remarks that the Federal Reserve is manipulating the stock market up and interest rates down. Grant calls the latter rigging "very near to a crime."

But as always Grant has nothing to say about the rigging of the gold market by government, which seems especially strange since gold traditionally has maintained an inverse relationship with real interest rates. That is, in the old days low real rates meant high gold prices, and vice versa.

'Accountability and transparency' in central banking? Not until news organizations attempt journalism
By: Chris Powell, GATA
Here, if David Lawder and Leika Kihara of Reuters were serious journalists, and their editor, Paul Simao, had the wit for his job, someone from Reuters would have asked the managing director of the International Monetary Fund, Christine Lagarde -- in the name of the "accountability, transparency, and effective communication" she purported to be advocating -- to identify the markets in which her member central banks are surreptitiously trading and when they are surreptitiously trading, and to explain the objectives of their surreptitious trading.

Instead Reuters makes itself a mere press-release service, like PR Newswire.

news.goldseek.com >> 5 April 2019

'Evidence of manipulation but not enough for charges' may mean government itself is the perp
By: Chris Powell, GATA
In commentary posted this week at GoldSeek's companion site, SilverSeek, silver market analyst Ted Butler reports confirmation from former Commodity Futures Trading Commission member Bart Chilton that JPMorganChase assumed from the collapsing investment bank Bear Stearns a massive short position in silver and has been allowed to manipulate the silver market for years right to the present day.

Butler complains that he was misled years ago by Chilton's responses to complaints of silver market manipulation, but Butler seems to be missing a way of construing the former commissioner's key comment. That is, Chilton has said the CFTC's long-running investigation of the silver market found evidence of manipulation but not enough to bring charges. That could mean that the underlying manipulator hasn't been JPMorganChase at all but the U.S. government using JPMorganChase as a broker in the market.

news.goldseek.com >> 2 April 2019

Chris Powell: Gold market manipulation update, April 2019
By: Chris Powell, GATA
For almost 20 years my organization, the Gold Anti-Trust Action Committee, has documented why mining assets particularly and other assets generally can not be valued accurately or even valued at all without first taking into account the largely surreptitious intervention in the markets by governments and central banks, surreptitious intervention that lately has become almost comprehensive.

Government intervention against the price of gold is not mere "conspiracy theory" but an old story fully documented in government's own archives. It is official policy going back to the United States government's enactment of the Gold Reserve Act of 1934, which created the U.S. government's Exchange Stabilization Fund. This policy of gold price suppression continued through the London Gold Pool of the 1960s, a coordinated scheme of gold reserve dishoarding by the U.S. government and seven allied governments to hold the international gold price at $35 per ounce.

news.goldseek.com >> 12 March 2019

Craig Hemke at Sprott Money: Did BIS swap gold out of GLD for recent price smash?
By: Chris Powell, GATA
Drawing on the work of Robert Lambourne, GATA's consultant on the Bank for International Settlements, the TF Metals Report's Craig Hemke notes at Sprott Money today that the recent monthly gold swapping reported by the Bank for International Settlements corresponds almost precisely with the simultaneous draining of gold inventory from the exchange-traded fund GLD.

Lambourne reported last week that about 56 tonnes of gold swaps were placed by the BIS in February

news.goldseek.com >> 11 March 2019

An Italian paper gets it: Central banks push gold futures down so they can get more metal to remonetize
By: Chris Powell, GATA
Financial analysis published two weeks ago by a major Italian newspaper, Il Sole / 24 Ore (The Sun / 24 Hours), asserted frankly that central banks have been using gold futures and derivatives to suppress the monetary metal's price so they can obtain more of the metal less expensively in advance of its remonetization under new rules promulgated by the Bank for International Settlements to take effect March 29.

Of course the new BIS rules, the "Basel 3" standards, declaring gold in the vault to be a superior asset, equivalent to cash and government bonds, are not news. What's news here is that a mainstream financial news organization has nailed the deception and intrigue of central banks and accused them of rigging the international gold market.

news.goldseek.com >> 8 March 2019

Futures exchange operator renews discounts for secret trading by governments and central banks
By: Chris Powell, GATA
Market manipulation by governments and central banks is right out in the open again, hiding in plain sight in the confidence that mainstream financial news organizations, financial letter writers, and gurus who purport to bring "technical analysis" to bear on markets will avert their gaze.

For as GATA's friend Jim Anderson of SD Bullion Inc. in Michigan pointed out this week, CME Group, operator of the major U.S. futures exchanges, has just renewed its "Central Bank Incentive Program," in which governments and central banks receive discounts for surreptitiously trading all major futures contracts on CME Group exchanges -- not just financial futures but also monetary metals futures and even agricultural futures.

news.goldseek.com >> 7 March 2019

Gold swaps by BIS rose by 56 tonnes in February
By: Robert Lambourne
The recent monthly statements of account published by the Bank for International Settlements indicate that the bank is still actively trading gold swaps, which the bank uses to gain access to gold held by commercial banks.

There is not enough information in the monthly reports to calculate the exact amount of swaps, but based on the information in the BIS' just-published statement of account for February 2019..

news.goldseek.com >> 5 March 2019

Justice Department stalls another class action in gold market rigging, this one against JPM
By: Chris Powell, GATA
How much time will the court give the Justice Department to delay getting to the bottom of the issue? The court might hasten matters if enough monetary metals mining companies protested the harm done to them and their shareholders by market rigging, but of course most monetary metals mining companies don't mind at all.

news.goldseek.com >> 26 February 2019

If gold doesn't correlate as it should, how about inquiring why?
By: Chris Powell, GATA
"For gold to justify its current price in terms of inflation," Hulbert writes today, "the Consumer Price Index either needs to be 47 percent higher or gold needs to trade for $902."

But what if the CPI itself is completely invalid? And what if central banks have surreptitiously supplied or underwritten vast amounts of imaginary "paper gold" in the futures markets?

Those questions invite financial journalism. Hulbert's propaganda only deflects them.

news.goldseek.com >> 24 February 2019

New York Times and central bank won't hear of gold market rigging
By: Chris Powell, GATA
From GATA's point of view the problem with mainstream Western news organizations isn't so much "fake news" as suppressed news.

Since the selection of every serious news story is essentially a political act, heavily influenced by the opinions of its writers and editors, news is not arithmetic. It always will be whatever writers, editors, readers, listeners, and viewers think it is. But at least "fake" news or news presented in a misleading way invites disputation.

news.goldseek.com >> 22 February 2019

Shareholders' Gold Council doesn't want to hear about market rigging
By: Chris Powell, GATA
The Shareholders' Gold Council, started last year by fund manager John Paulson "to conduct research reports and studies of interest to investors in the gold industry" (https://www.goldcouncil.net/), has rejected GATA's requests for membership and to make a presentation about manipulation of the gold market by central banks and their bullion bank agents.

A representative of the council has told GATA that "our focus is on the companies themselves, not the gold market."

news.goldseek.com >> 13 February 2019

Ask your mining companies what they're doing about price suppression
By: Chris Powell, GATA
GATA's old friend B.L. has forwarded the text of an excellent letter he has e-mailed to a monetary metals mining company in which he long has been invested, asking whether the company will ever respond to the growing number of disclosures of manipulation of the gold and silver markets.

news.goldseek.com >> 12 February 2019

Canadian class action against gold and silver market rigging continues against other banks
By: Chris Powell, GATA
While the law firm superintending the Canadian class-action lawsuit against gold and silver market rigging doesn't seem interested in communicating to the public about the case, GATA is reliably informed that the settlement agreement with Deutsche Bank reported today -- http://www.gata.org/node/18857 -- is not the end of the case...

news.goldseek.com >> 10 February 2019

BIS Gold Swaps Fall in January; Data Hints at Price Suppression in 2017
By: Chris Powell, GATA
This seems an odd coincidence. But if the gold swaps were entered with the intent of trying to suppress the price of gold, then perhaps this coincidence does not appear so strange. Perhaps the BIS' counterparty to the swap was prepared to enter the transaction only if it was both entitled to the return of its gold swapped with the BIS but also was protected against a fall in the price of gold for the duration of the swaps.

In itself this unusual transaction does not prove gold price suppression, but it would be consistent with suppression being the underlying reason for the swap.

news.goldseek.com >> 3 February 2019

A Voice from Inside the Gold Swap and Price-rigging Business
By: Chris Powell, GATA
GATA consultant Robert Lambourne's report yesterday about the gold trading signified by the December financial statement of the Bank for International Settlements speculated that the bank's use of gold swaps might mean to recover gold for central banks that are inconveniently short in their official reserves.

In response to Lambourne's analysis, a prominent figure in the gold business in London and elsewhere who has followed GATA's work for many years wrote to your secretary/treasurer with his own account of the swap business and invited GATA to distribute it.

It confirms that central banks trade gold in large part to facilitate gold production by providing cheap financing for mines, to regulate and contain the price of the monetary metal, and thus to discourage increases in the price of all commodities.

Robert Lambourne: Is BIS using swaps to recover central bank gold?
By: Robert Lambourne
Disclosures in the recent monthly statements of account published by the Bank for International Settlements show that the bank is still actively trading in gold swaps, which the bank uses to gain access to gold held by commercial banks.

There is not enough information in the monthly reports to calculate the exact amount of swaps. But based on December's statement, which was posted very late, only this week --

https://www.bis.org/banking/balsheet/statofacc181231.pdf

-- it can be estimated that the bank's gold swaps exceeded 275 tonnes at the end of the month.

news.goldseek.com >> 24 January 2019

Why isn't GATA invited to make presentations in Canada anymore?
By: Chris Powell, GATA
While we have been shut out of Canada lately, your secretary/treasurer has just been invited to speak again at two financial conferences in Asia and to appear on network television there and so should raise some money for travel and lodging. We aim to be heard wherever we can be.

news.goldseek.com >> 21 January 2019

No, Barron's, the gold supply can be and has been increased much -- with imaginary metal
By: Chris Powell
Barron's this week has a surprisingly favorable report about the prospects for the gold price and gold miners in light of the recent Newmont-Goldcorp and Barrick-Randgold combinations. But the report repeats without question the worst misinformation about the gold price, quoting a fund manager as saying gold is attractive because "it's an alternative currency whose supply can't be increased much."

news.goldseek.com >> 2 January 2019

What if nobody cares about market rigging? Do you?
By: Chris Powell
When GATA got started in January 1999 we figured that the rigging we saw in the gold and silver markets was the work of the big investment banks that heavily traded the monetary metals on the futures exchanges. Our idea was to gather evidence of their collusion and then sue them for triple damages under the Sherman Act, the Clayton Act, and the anti-trust laws of the 50 states.

news.goldseek.com >> 26 December 2018

Gartman calls GATA 'always' bullish on gold but mining industry disagrees
By: Chris Powell
In a fractional-reserve gold banking system as overstretched as this, the upward potential for the gold price is enormous. But the central bank and government power arrayed in supporting that system is also enormous, and for cautioning investors about it, GATA is typically ostracized from the gold-bullish crowd, dominated as it is by mining companies that are interested mainly in building their shareholder base and getting their share prices up. Thus GATA is often perceived as having a bearish influence on the gold price, if not as being actually bearish itself.

news.goldseek.com >> 24 December 2018

Morgan trader's confession, CFTC's stonewalling reviewed by GATA secretary
By: Chris Powell
Interviewed Friday by Chris Marcus of Arcadia Economics, your secretary/treasurer discussed recent developments in gold and silver market rigging by the U.S. government, its agents, and others. Among them: The confession by former JPMorganChase trader John Edmonds; whether he will incriminate the bank's former commodities desk chief, Blythe Masters; and the possibility that the bank was front-running government trades brokered by the bank.

news.goldseek.com >> 18 December 2018

From China, translated from the Chinese: 'GATA is not wrong'
By: Chris Powell
JPMorgan Chase will stop a large number of silver shorting activities, but the data shows that the short-selling by eight traders led by the bank is still equal to 200 days of world silver production, only one day less than a month ago. It seems that the GATA revolution has not yet succeeded and must continue to work.

Will gold and silver miners join the lawsuits against JPMorganChase?
By: Chris Powell
It's not clear whether gold and silver mining companies would qualify as participants in the lawsuits. Such lawsuits have been construed to be open only to those who traded gold and silver futures contracts during specified periods. But gold and silver mining companies, especially producing companies, sometimes trade futures to hedge their production and other financial obligations, so they might qualify.

news.goldseek.com >> 13 December 2018

CFTC refuses to address GATA's questions about gold and silver market rigging
By: Chris Powell
By letters in July and September, GATA asked the commission to explain the explosion in the use of the "exchange for physicals" mechanism of settling gold and silver futures contracts on the New York Commodity Exchange; to determine whether gold futures prices had been linked by the Chinese government's manipulative trading to the value of the yuan; and whether the commission has jurisdiction over manipulative futures trading by the U.S. government itself.

news.goldseek.com >> 9 December 2018

BIS gold swaps fall in November but bank continues secret trading
By: Robert Lambourne
November saw a continuation of significant trading in gold swaps by the Bank for International Settlements. After falling in August and September, the BIS' purchases of gold via gold swaps soared in October, falling back by around 64 tonnes in November.

news.goldseek.com >> 5 December 2018

Jay Taylor: GATA has proved gold market manipulation, and here's more proof
By: Chris Powell
Taylor went on to present a chart of morning and afternoon gold price fixes from the London Bullion Market Association showing that the gold price has nearly always been knocked down during London trading, so much so that buying on the afternoon fix and selling on the morning fix long has been spectacularly profitable, while doing the opposite long has been spectacularly unprofitable.

news.goldseek.com >> 29 November 2018

Refusals to answer should be enough to settle the gold-rigging issue
By: Chris Powell
Questions are asked to get answers, but refusals to answer may be enough to permit conclusions to be drawn and thus in effect constitute answers as well. With all these recent refusals to answer, who really cannot believe that governments and central banks long have been manipulating the gold market so they might control the currency markets and thereby defeat all markets?

news.goldseek.com >> 27 November 2018

Craig Hemke at Sprott Money: Those 'exchange for physicals' at the Comex aren't real
By: Chris Powell
The TF Metal Report's Craig Hemke, writing today at Sprott Money, does the math on the last year's worth of the use of the "exchange for physicals" mechanism of settling gold futures contracts on the New York Commodities Exchange. Hemke calculates that nearly 2.4 million Comex gold contracts have been settled this way since last November, totaling 7,442 tonnes of gold.

news.goldseek.com >> 20 November 2018

Chilton says CFTC found much evidence of silver rigging; Schiff calls rigging 'rumor'
By: Chris Powell
Bart Chilton, the former member of the U.S. Commodity Futures Trading Commission who pushed his agency to hold in a March 2010 public hearing that addressed manipulation of the monetary metals markets and called GATA leaders as witnesses, this year has been hosting Russia Today's daily "Boom/Bust" program, and last Thursday he interviewed fund manager and gold advocate Peter Schiff about market manipulation.

news.goldseek.com >> 19 November 2018

Volcker's updated autobiography urges gold price suppression
By: Chris Powell
"That day the United States 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."

news.goldseek.com >> 9 November 2018

With BIS intervention rising sharply in October, gold price stalled
By: Robert Lambourne
The monthly statements of the BIS give only summary information on the bank's use of gold swaps and other gold-related derivatives. The information in the statements is not sufficient to calculate a precise amount of gold-related derivatives, including swaps. But, after subtracting the gold reported owned by the BIS itself, the bank's total estimated gold exposure as of October 31 was around 372 tonnes -- 134 tonnes, or 56 percent, greater than the approximately 238 tonnes as of September 30.

news.goldseek.com >> 7 November 2018

Ex-Morgan trader pleads guilty to rigging monetary metals, implicates supervisors at bank
By: Chris Powell
How did that "exhaustive" investigation of the silver market by the U.S. Commodities Futures Trading Commission miss this? How will the World Gold Council and most monetary metals mining companies continue to miss it? How many more anti-trust lawsuits will this prompt? Anybody seen Blythe Masters lately?

news.goldseek.com >> 4 November 2018

Chris Powell at New Orleans conference: Gold market manipulation update, Nov. 2018
By: Chris Powell
This system is really a policy of suppressing all commodity prices comprehensively, through the shorting of commodities in the futures markets, creating a vast imaginary supply of commodities, thereby supporting Western government currencies, government bonds, and other financial assets. This system has destroyed the free and transparent markets the West purports to advocate. It is also exploiting and impoverishing the commodity-producing developing world.

Touting transparency in gold, ex-central banker is contradicted by IMF, BIS, and her own successor
By: Chris Powell
Writing in the October edition of The Alchemist, the magazine of the London Bullion Market Association, former French central bank official Isabelle Strauss-Kahn acknowledges that central bank officials notice and are sensitive to complaints that they are manipulating the gold market. She also claims that central bank operations in the gold market have become more transparent, as if she doesn't know how secretive those operations remain, even at her own former employer.

news.goldseek.com >> 26 October 2018

Ted Butler: Why the frantic movement of silver at the Comex?
By: Chris Powell
Silver market analyst Ted Butler today marvels at the frantic movement of huge amounts of silver among the vaults of the New York Commodity Exchange, and wonders why it is happening and why it gets no notice from other market analysts.

news.goldseek.com >> 21 October 2018

Equity Management Associates: Reversion to mean would send monetary metals soaring
By: Chris Powell
Our friend Lawrence Lepard, managing partner of Equity Management Associates in Wellesley, Massachusetts, whose investments have been concentrated in the monetary metals mining industry, has just sent a letter to his investors outlining the case for an upward reversal in the industry's fortunes.

news.goldseek.com >> 17 October 2018

Gold price steadies and rises as BIS intervention diminishes
By: Robert Lambourne
The information provided in BIS monthly statements is not sufficient to calculate a precise amount of gold-related derivatives, including swaps, but the bank's total estimated exposure as of September 30, 2018, was about 238 tonnes of gold, compared with about 370 tonnes at August 31, 2018, and about 485 tonnes as of July 31, 2018.

news.goldseek.com >> 2 October 2018

Key metals player Bank of Nova Scotia admits rigging gold and silver futures
By: Chris Powell
Not that anyone but the tireless researcher of silver market rigging, Ted Butler, will catch the significance of the dates in yesterday's announcement from the CFTC, but the regulatory agency closed without result its long-running investigation of silver market rigging in September 2013. That is, the CFTC closed its investigation of silver market rigging three months after the Bank of Nova Scotia's rigging of gold and silver futures began.

news.goldseek.com >> 1 October 2018

How intimately are major gold-mining companies connected with governments and central banks?
By: Chris Powell
Intimate but not fully understood relationships between major gold mining companies, on one hand, and governments and central banks on the other might explain the indifference of the World Gold Council to the longstanding policy of gold price suppression by major governments and central banks. That is, what if the gold council is really representing not gold investors but certain governments in their objective of minimizing gold's traditional monetary functions?

You're not invited as World Gold Council teaches central banks about gold
By: Chris Powell
While bigwigs from Franco-Nevada's Pierre Lassonde to crypto-anarchist Doug Casey insist that central banks don't care about gold, the World Gold Council still is planning to invite central bankers and finance ministry and sovereign wealth fund officials to another "executive program in gold reserve management" The program will be held from November 26 to 28 in Singapore, and unless you're connected to a government, you're not invited.

news.goldseek.com >> 21 September 2018

GATA appeals to the new Shareholders Gold Council
By: Chris Powell
GATA today is appealing to the council's founder, investment fund manager John Paulson, to allow GATA to make a presentation to the council about the longstanding policy of Western governments and central banks to intervene in the gold market surreptitiously to suppress the monetary metal's price.

GATA asks CFTC if market rigging by U.S. govt. is legal
By: Chris Powell
In response, GATA is asking the commission whether its jurisdiction covers futures market manipulation by the U.S. government or brokers acting for the U.S. government, or whether such manipulation is authorized by law, like the Gold Reserve Act of 1934 as amended in the 1970s, which established the U.S. Treasury Department's Exchange Stabilization Fund.

news.goldseek.com >> 17 September 2018

Ted Butler: Is the COT report still valid?
By: Chris Powell
Silver market analyst and rigging critic Ted Butler today explains why, despite the extreme conditions it reflects, he believes that the gold and silver futures market trader positioning data reported by the U.S. Commodity Futures Trading Commission is still accurate and predictive. The data, Butler asserts, is no more extreme than the prices of the monetary metals themselves. He continues to construe the data as the most bullish ever for the metals.

news.goldseek.com >> 14 September 2018

Is Barrick still central banking's agent in the gold market?
By: Chris Powell
A particularly intriguing connection between the Chinese government and Barrick was brought to your attention by GATA the other day via a report in the Financial Times. The newspaper noted that the Chinese government has appointed a committee to advise it on relations with the United States and financial and economic reforms and the committee will be co-chaired by the chairman of Barrick Gold, John Thornton, a former Goldman Sachs executive.

news.goldseek.com >> 11 September 2018

Precious metals derivatives soar, so who ARE those guys?
By: Chris Powell
The quarterly report from the U.S. Office of the Comptroller of the Currency showing bank trading revenue, published today and called to GATA's attention by our friend J.H., contains two remarkable graphs showing the increase in the notional value of gold and precious metals derivatives held by "U.S. commercial banks and savings associations" quarter by quarter since 2001.

news.goldseek.com >> 6 September 2018

Gold market intervention by BIS declines after $100 price plunge
By: Robert Lambourne
The information provided in the BIS' monthly statements is not sufficient to calculate a precise amount of gold-related derivatives, including swaps, but the bank's total estimated exposure as of August 31 was about 370 tonnes of gold, down 115 tonnes from the approximately 485 tonnes as of July 31. The bank's gold swaps and derivatives had increased by 17 percent from June through July. During this period the gold price fell by about $100 per ounce.

news.goldseek.com >> 27 August 2018

Would Tocqueville's Hathaway risk too much by being honest?
By: Chris Powell
GATA does understand the risks to anyone who challenges the market rigging. We often have addressed the vulnerability of the monetary metals mining industry, vulnerability to government for mining permits, royalty payments, and environmental regulation compliance, and to the big investment banks, which the industry needs for financing even though these banks are also the agents of government in all markets.

news.goldseek.com >> 23 August 2018

Tocqueville's Hathaway marvels at gold's depression but declines to explain it
By: Chris Powell
In his latest market letter, John Hathaway of the Tocqueville Gold Fund notes what seems like the record bearishness in the monetary metals sector, what with huge short positions by speculators, a washout in metals shares, and huge long positions by speculators in the U.S. dollar. He also notes that this bearishness contradicts what seem like the fundamentals for the sector.

news.goldseek.com >> 10 August 2018

Currency comptroller brushes off GATA's inquiry on gold, silver EFPs
By: Chris Powell
The comptroller's reply, signed by the deputy comptroller for public affairs, Bryan Hubbard, said only that the comptroller's office has "dedicated examiners" at the largest banks who "continuously evaluate the credit, market, operational, reputation, and compliance risks of bank trading and derivative activities."

GATA figures heavily in 'Codes and Conspiracies' TV program on gold
By: Chris Powell
The "Codes and Conspiracies" program series on AHC-TV this week rebroadcast throughout the United States its program on gold from two years ago, the first and last parts of which give your secretary/treasurer extensive time to challenge the U.S. government's surreptitious interference in the gold market. Those parts are wrapped around an interesting if a bit incongruous examination of Nazi Germany's expropriation of gold to sustain itself during World War II.

news.goldseek.com >> 8 August 2018

BIS gold market intervention increased by 17% in July
By: Robert Lambourne
The BIS' July Statement of Account gives summary information on its use of gold swaps and gold-related derivatives in the month. The information is not sufficient to calculate a precise amount of gold-related derivatives, including swaps, but the bank's total estimated exposure as of July 31 was about 485 tonnes of gold versus about 413 tonnes as of June 30.

news.goldseek.com >> 31 July 2018

Treasury, Fed evade congressman's gold questions so he presses them again, and more
By: Chris Powell
Perhaps most satisfying for believers in free markets and limited and transparent government, Mooney now asks the Treasury and Fed to come clean about everything. He writes: "What markets, if any, are the Federal Reserve and Treasury trading in, and through what mechanisms? If the Federal Reserve and Treasury are engaged in trading, what is the objective?"

news.goldseek.com >> 25 July 2018

Maybe China will prompt U.S. to reclaim the gold weapon
By: Chris Powell
Now that China seems to have seized control of the gold price, capping and suppressing it to knock commodity prices down, thereby easing the de-facto devaluation of the yuan in China's trade war with the United States, the gold sector is more demoralized than ever. The only pulses left in the sector seem to belong to mining executives and internet sites touting shares to an ever-diminishing audience.

news.goldseek.com >> 16 July 2018

June shows no change in BIS intervention in gold
By: Robert Lambourne
The information provided in the BIS monthly statements is not sufficient to calculate a precise amount of gold-related derivatives, including swaps, but it appears that the bank's total exposure as of June 30, 2018, was approximately 413 tonnes of gold, which is essentially unchanged from May. When it comes to its activities in the gold market, the BIS provides little information on what it is doing, why, and for whom.

The explosive questions the gold riggers won't answer -- and the press won't ask
By: Chris Powell
These refusals to answer specific questions about an obviously sensitive point on which the value of all capital, labor, goods, and services in the world depends are as good as admissions that something deceptive and discreditable is going on with governments, central banks, gold, and the financial markets generally.

news.goldseek.com >> 3 July 2018

Jim Rickards: Gold price has been locked to SDRs and global monetary reset is under way
By: Chris Powell
GoldCore's daily blog today reprints analysis by Jim Rickards in his latest Gold Speculator letter arguing that the great "global monetary reset" often speculated about is already underway, as indicated by the recent close correlation between the gold price and the International Monetary Fund's super-currency, the Special Drawing Right, which began shortly after the IMF made the Chinese yuan a component of the basket of currencies composing the SDR. Since then, Rickards writes, the gold price, ordinarily volatile, has exhibited little volatility as priced in SDRs.

news.goldseek.com >> 1 July 2018

David Brady at Sprott Money: Gold -- the Chinese connection
By: Chris Powell
Market analyst and former fund manager David Brady, writing again at Sprott Money, observes today that, in devaluing the yuan against the U.S. dollar in recent weeks to offset rising U.S. tariffs, China also appears to be pegging the yuan to a gold price of around 8,200 yuan per ounce.

news.goldseek.com >> 17 June 2018

Doug Casey says governments don't care about gold and GATA wears tinfoil hats
By: Chris Powell
Interviewed this week by Craig Hemke of the TF Metals Report for Sprott Money News, financial commentator Doug Casey charges that complaints of gold market manipulation by governments are "ridiculous" and "laughable" because governments "don't care" about gold. Casey adds that while GATA's officers are "nice" and "sincere" people, "they really wear tinfoil hats when they start talking about this stuff."

news.goldseek.com >> 14 June 2018

How long should investors stick with gold, and why?
By: Chris Powell
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.

news.goldseek.com >> 11 June 2018

GATA asks bank regulator to check risks of gold futures maneuver
By: Chris Powell
GATA has appealed to the U.S. comptroller of the currency, who has regulatory authority over banks, to review financial risks certain banks may have incurred through derivatives in the monetary metals markets, particularly through the recent heavy use of the "exchange for physicals" mechanism of settling gold and silver futures contracts on the New York Commodities Exchange.

news.goldseek.com >> 6 June 2018

BIS intervention in gold remained steady in May
By: Robert Lambourne
The information provided by the BIS monthly statements is not sufficient to calculate a precise amount of gold-related derivatives, including swaps, used by the bank, but it appears that the bank's total exposure as of May 31 was around 415 tonnes of gold, which is essentially unchanged from April's 420 tonnes.

news.goldseek.com >> 5 June 2018

Nicholas Biezanek: Whatever 'exchange for physicals' do, they're not taking London gold
By: Chris Powell
South African market analyst Nicholas Biezanek reports that whatever is represented by the explosive increase in use of the "exchange for physicals" mechanism to settle gold and silver contracts on the New York Commodities Exchange represents, it is not drawing down the inventory of metal vaulted in London.

news.goldseek.com >> 1 June 2018

One of these days, Alice -- to the moon!
By: Chris Powell, GATA
At the opening of GATA's Gold Rush 21 conference in Dawson City, Yukon Territory, back in August 2005, our friend, South Africa's "Mister Gold," the late Peter George, was already tired of the brazenness of gold price suppression.

"In the last 10 years," George said, "the central banks have effectively shown that when there is a real crisis, gold actually goes down -- and it's so blatant, it's a joke"

news.goldseek.com >> 29 May 2018

Central banking's secret market rigging, not its credibility, controls price expectations
By: Chris Powell, GATA
Oh, for a chance to put critical questions to central bankers at forums where their refusal to reply responsively at least might embarrass them in front of an audience. (Of course that's why such forums are never held.)

That wish was prompted by an address given last week by the general manager of the Bank for International Settlements, Agustin Carstens, at a conference in Stockholm celebrating the 350th anniversary of Sveriges Riksbank, the Swedish central bank. The address is posted at the BIS' internet site...

news.goldseek.com >> 22 May 2018

New book, 'American Default,' examines dollar devaluation, gold confiscation of 1933
By: Chris Powell
Bloomberg News today begins publishing a four-part excerpt from a new book about the U.S. government's devaluation of the dollar, repudiation of debt, and confiscation of monetary gold in 1933. The book is titled "American Default -- The Untold Story of FDR, the Supreme Court, and the Battle over Gold," and it's written by Sebastian Edwards, Henry Ford II professor of international economics at the University of California at Los Angeles.

news.goldseek.com >> 20 May 2018

Gold frequently disappoints Jim Grant, but does he understand why?
By: Chris Powell
Of course gold price suppression is not a topic that facilitates invitations to appear on financial news programs on television, which seems to be a big part of Grant's work. (Indeed, your secretary/treasurer doesn't even get invited to CMRE meetings anymore.) But if Grant continues to be frequently disappointed in the gold price, he might find some consolation in better understanding why gold is disappointing him.

news.goldseek.com >> 15 May 2018

Jim Rickards provides the best summary of gold price manipulation
By: Chris Powell
Indeed, the book's subchapter 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 subchapter 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.

news.goldseek.com >> 9 May 2018

BIS gold derivatives down in March, back up in April
By: Robert Lambourne
From these statements it is possible to deduce that during March the BIS reduced by about 165 tonnes its use of gold swaps and other gold-related derivatives, but subsequently in April the bank's use of gold swaps and other gold-related derivatives increased by about 60 tonnes. It seems that the BIS is continuing to trade actively in gold derivatives and the amounts disclosed each month have been following an irregular pattern.

news.goldseek.com >> 4 May 2018

The BIS press office may be the new Maytag repairman
By: Chris Powell
GATA consultant Robert Lambourne, our expert on the Bank for International Settlements, noted this week that the BIS is late in posting its monthly statement of account for March, which typically contains obscure data about the bank's largely surreptitious interventions in the gold market on behalf of its client central banks.

news.goldseek.com >> 25 April 2018

Come clean about gold, congressman tells Treasury and Fed
By: Chris Powell
The willingness of a member of Congress to put to the Treasury Department and Federal Reserve specific questions like the ones GATA long has been pressing is especially encouraging. Not even Congress' last great gold advocate, former U.S. Rep. Ron Paul, R-Texas, could be persuaded to do that, the issue apparently being considered too sensitive to the international position of the United States and the U.S. dollar's status as the world reserve currency.

news.goldseek.com >> 10 April 2018

Is Sharps Pixley's Ross Norman really a friend of gold, and his clients?
By: Chris Powell
But in his new commentary at Sharps Pixley, headlined "Gold Says 'Peak Complacency,'" Norman professes to wonder about gold's being "trapped in narrow trading ranges and unresponsive to geopolitical events," about the lack of news and substantial commentary about gold, and about the seeming complacency of the financial markets.

news.goldseek.com >> 6 April 2018

Allan Flynn: Gold and silver futures were easy targets for spoofers
By: Chris Powell
Allan Flynn, who runs the "Comex, We Have a Problem" blog, this week posted a fascinating review of the traders who are the major targets of the recent investigation by the U.S. Justice Department and Commodity Futures Trading Commission of "spoofing" in the monetary metals futures markets.

news.goldseek.com >> 4 April 2018

Gold market manipulation update, April 2018
By: Chris Powell
Since we were here last year some big changes have occurred in the international gold price suppression policy. These changes indicate growing tightness in the gold market -- indicate that governments and central banks are having to work harder to keep the price down. First, the Bank for International Settlements, the association of major central banks, has jumped back into the gold market.

news.goldseek.com >> 3 April 2018

Intervention may best explain anomalies in the gold market
By: Chris Powell
Central bank and government archives are full of official plans and speculation about selling gold to suppress prices or spook the market. Further, the records of the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission and CME Group, operator of the major U.S. futures exchanges, show that in recent years central banks and governments have been secretly trading all commodity and financial futures contracts in the United States.

CNBC Asia lets GATA secretary indict press for aiding gold rigging by central banks
By: Chris Powell
Your secretary/treasurer was interviewed for about five minutes this morning by Bernie Lo and Akiko Fujita on CNBC Asia's "Squawk Box" program in Hong Kong, discussing the surreptitious daily interventions in the gold market by central banks and the Bank for International Settlements to suppress the monetary metal's price.

news.goldseek.com >> 27 March 2018

No, GATA never took Russian central banker or Greenspan out of context
By: Chris Powell
If Mozhaiskov found GATA as ridiculous as Gilburt does, the central banker’s courtesy was all the more amazing. As his speech discloses, Mozhaiskov knew full well what GATA was about and surely was aware of how GATA was likely to construe his remarks. Neither Mozhaiskov nor anyone else at the Bank of Russia has ever complained that GATA has misconstrued him. Only Gilburt has made such an allegation, as if he knows what central bankers think better than they themselves do.

news.goldseek.com >> 21 March 2018

No, gold leased from central banks doesn't always have to be returned
By: Chris Powell
The effectiveness of various aspects of this policy may be questioned, but its general objective is plain, and to refute Weiner it is not necessary to understand fully every detail of the policy. For Weiner's primary assertion is as broad as it is unsupported: that central banks don't care about gold, even as practically every week produces new proof that they care desperately.

news.goldseek.com >> 20 March 2018

Does Weiner really know what central bankers think better than they themselves do?
By: Chris Powell
Weiner characterizes as "conspiracy theorists" those who complain about gold price suppression. Perhaps he will explain in his next commentary what it is when government officials meet secretly to decide and implement a course of action. Conspiracy is defined by the Federal Reserve Board's monthly meetings in Washington to the monthly meetings of the board of the BIS in Basle, Switzerland. Weiner should try attending one of those meetings.

news.goldseek.com >> 19 March 2018

Pro-govt. Turkish paper reprints Manly's RT exposure of gold price suppression
By: Chris Powell
As the scheme is surreptitious and involves rigging markets, it means cheating nearly everyone around the world now and right through to its conclusion, which is why it is a cosmic wrong. But as Manly's history of the scheme suggests, proving its existence has become like proving a truism. Central banks and governments don't deny the scheme; they just refuse to discuss it and answer questions about it.

What are all those monetary metals derivatives held by a few big U.S. banks?
By: Chris Powell
GATA's and gold's old friend Larry Parks, executive director of the Foundation for the Advancement of Monetary Education (FAME, http://fame.org), calls attention tonight to the third-quarter 2017 report of the U.S. Comptroller of the Currency, which shows that just several government-insured U.S. banks hold $45 billion in derivative positions related to monetary metals.

RT publishes detailed report by Ronan Manly on gold price suppression
By: Chris Powell
While its details will not be new to those who follow GATA, Manly's report may be most significant for establishng again that the government of Russia, which owns RT, knows all about the gold price suppression scheme and has known at least since the deputy chairman of the Bank of Russia, Oleg Mozhaiskov, addressed the London Bullion Market Association about GATA's work during a speech in Moscow in 2004.

news.goldseek.com >> 14 March 2018

Monetary Metals' Weiner responds but answers nothing
By: Chris Powell
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.

news.goldseek.com >> 13 March 2018

Monetary Metals' Weiner refuses to see anything wrong in the gold market
By: Chris Powell
Weiner is in the gold arbitrage business and complaints of manipulation of the gold market by governments and central banks may be bad for that business, just as such complaints may be bad for the gold mining business. For such complaints caution gold investors about what they are up against. But such complaints may be bad for business only because the manipulation itself is worse for business. Better to expose, challenge, and try to defeat the manipulation, creating good conditions for the gold business and restoring free and transparent markets everywhere, than to pretend that nothing is wrong.

news.goldseek.com >> 7 March 2018

Use of gold derivatives by BIS declines by 55 tonnes in February
By: Robert Lambourne
The information provided in the BIS monthly statement of account is not sufficient to calculate a precise amount of gold-related derivatives, including swaps, but it appears that the bank's total exposure as of February 28, 2018, was 525 tonnes of gold. This compares to estimates of 580 tonnes, 450 tonnes, 600 tonnes, and 570 tonnes, respectively, at the January, December, November, and October month-ends and an audited swaps figure of 438 tonnes as of March 31, 2017.

news.goldseek.com >> 1 March 2018

Lassonde likes the gold price with central banks rigging the market
By: Chris Powell
Oh, for a journalist who would put a few serious questions to Franco-Nevada Chairman Pierre Lassonde, former chairman of the World Gold Council, when he says, as he told Daniela Cambone of Kitco News this week, that "gold is well-priced" and "where it should be."

news.goldseek.com >> 19 February 2018

Clive Maund still can't admit that central banks diddle the gold market
By: Chris Powell
Yes, all investment opportunities compete against each other, but not all of them have to compete against central banks, creators and dispensers of infinite money. After all, might not gold trade more positively if it was not constantly being jostled by a gold derivatives position of nearly 600 tonnes being managed aggressively every day by the Bank for International Settlements on behalf of its member central banks?

news.goldseek.com >> 13 February 2018

Gold market intervention by BIS increased substantially in January
By: Robert Lambourne
The information provided in the BIS monthly statement of account is not sufficient to calculate a precise amount of gold-related derivatives, including swaps, but it appears that the bank's total exposure as of January 31, 2018, was 580 tonnes of gold. This compares to estimates of 450 tonnes, 600 tonnes, and 570 tonnes, respectively, at the December, November, and October month-ends and an audited swaps figure of 438 tonnes as of March 31, 2017.

news.goldseek.com >> 4 February 2018

BIS gold derivatives fall in December but remain hefty
By: Robert Lambourne
Despite the substantial reduction made in December, the BIS is still party to a substantial volume of gold swaps and the amount held is still higher than any of the year-end gold swap levels quoted in the eight-year table below. It is evident that the BIS remains an active participant in the gold swaps market with seemingly high volumes of trade taking place regularly.

news.goldseek.com >> 31 January 2018

Banks are in the clear if they rig markets as U.S. government's agents
By: Chris Powell
Metals market analyst Lawrie Williams, writing yesterday for London bullion dealer Sharps Pixley, notes that manipulation of the monetary metals markets by big banks is becoming more evident, what with the U.S. Commodity Futures Trading Commission imposing fines this week on three European banks and the U.S. Justice Department bringing criminal charges against eight traders at the banks.

news.goldseek.com >> 28 January 2018

Gold's revaluation is 'just a matter of time,' but then so is everything else
By: Chris Powell
The longstanding challenge for central banks and governments is to discourage interest in gold's return -- silver's too -- as money competing with their own currencies. Hence the ever-increasing issuance of paper claims to metal that doesn't exist, the fractional-reserve gold and silver banking system. As long as enough investors are content to own metal that is unallocated and only imaginary, metal that is only a claim against a bullion bank or a central bank, central banks and governments can keep real metal's price under control.

Complaints of gold and silver market rigging are more than 'sour grapes'
By: Chris Powell
Of course GATA hasn't been the only one to complain about manipulation of the monetary metals markets. More and more people are complaining about it every day. But GATA has been the only one to complain about and document this manipulation since January 1999, nearly 20 years, through uptrends and downtrends alike for the monetary metals, and giving trading advice and making money have not been the organization's objectives.

news.goldseek.com >> 21 January 2018

Futures exchange operator details discounts for secret trading by central banks
By: Chris Powell
Central banks and governments that are secretly trading futures contracts in the United States on CME Group exchanges qualify for discounts ranging from 7 percent for two-year U.S. Treasury futures to 15 percent for gold and silver futures to 60 percent for Eurodollar futures. Central banks and governments receiving these trading discounts cannot trade directly but must use CME Group clearing member firms for their trades, raising the question of whether those clearing members are able to trade for their own accounts on the basis of inside information from central banks, creators of infinite money.

Pakistan is the closest the NY Times will get to gold-rigging story
By: Chris Powell
Cast your bread upon the waters, the Bible says somewhere, and pray that something comes back besides overweight seagulls. GATA does a lot of casting, usually without result, but you never know when and where someone will pick up on it, and this week a teacher and writer in Pakistan, Taha Ali, did. Ali, who writes for Pakistan's national English-language newspaper, the Express-Tribune, cited GATA in a commentary about bitcoin to explain why the cryptocurrency rose so sharply in price amid an explosion in the world's money supply while the gold price did not rise similarly.

news.goldseek.com >> 18 January 2018

New York Fed official celebrates a century of market rigging
By: Chris Powell
Last month an official of the Federal Reserve Bank of New York celebrated a century of cooperation by central banks in secret interventions in the markets. His address was posted on the internet sites of the New York Fed and the Bank for International Settlements, but mainstream financial news organizations have yet to take note of it.

news.goldseek.com >> 25 December 2017

Help GATA repeat in 2018 its successes this year
By: Chris Powell
In London to speak at the Mines and Money conference a few weeks ago, your secretary/treasurer spent much time presenting and explaining the documentation to another major financial news organization. Though such efforts have only small chances of success, given the timidity of financial journalism, they must be made, since secret market rigging by governments is as legal in nominal democracies as it is in totalitarian countries and can be curbed or stopped only by exposure to a mass audience.

news.goldseek.com >> 13 December 2017

Hope for the day of deliverance but avoid predicting it
By: Chris Powell
It seems that most gold and silver bought through futures contracts on the Comex in New York and claimed for delivery now is being delivered in London through what long had been described as an "emergency" mechanism. Since the metals are reported to be in backwardation in London -- prices for immediate delivery being higher than prices for future delivery -- all this suggests an extreme shortage.

news.goldseek.com >> 29 November 2017

London update on gold market manipulation
By: Chris Powell
Ordinarily news organizations are most interested in questions that high government officials refuse to answer. But mainstream financial news reporters are not interested in questions about secret government intervention in the gold market and secret interventions in markets generally. No, such questions are too sensitive, considered matters of national security.

McEwen Mining CEO admits gold market rigging but just shrugs at it
By: Chris Powell
McEwen Mining Chairman and CEO Rob McEwen, founder of Goldcorp, told investors in a conference call November 3 that his company is fully aware of the rigging of the gold market but is not trying to do anything about. Disappointing as this is generally and should be for his company's shareholders particularly, McEwen is far ahead of most other executives of monetary metals mining companies, since at least he can admit the obvious.

news.goldseek.com >> 19 November 2017

Zero Hedge invites Financial Times to heed GATA's urging on gold suppression
By: Chris Powell
So Zero Hedge concluded its post last night by suggesting that Tett now pursue the gold price suppression angle, noting that GATA has been urging just that on the FT for quite a while. Zero Hedge wrotes: "According to the Reserve Bank of India's estimate, the ratio of 'paper gold' trading to physical gold trading is 92 to 1, meaning that the price of gold on the screens has almost nothing to do with the buying and selling of physical gold.

news.goldseek.com >> 15 November 2017

BIS official urges accountability while his press office rejects it
By: Chris Powell
Even as the Bank for International Settlements was refusing on Tuesday to answer GATA's questions about the bank's activity in the gold market -- the bank's economic adviser and head of research, Hyun Song Shin, was addressing a conference at the European Central Bank in Frankfurt, Germany, giving a speech titled "Can Central Banks Talk Too Much?"

What did Greenspan mean about leasing gold if the price rose?
By: Chris Powell
Of course Greenspan isn't the only former Fed chairman to express sentiments favorable to gold market rigging. His predecessor, Paul Volcker, reflecting on an international currency revaluation in 1973, wrote in memoirs published by the Nikkei Weekly in Japan in November 2004: "Joint intervention in gold sales to prevent a steep rise in the price of gold, however, was not undertaken. That was a mistake."

news.goldseek.com >> 14 November 2017

BIS refuses to answer questions about its activity in the gold market
By: Chris Powell
The Bank for International Settlements today refused to answer questions from the Gold Anti-Trust Anti-Trust Action Committee about the bank's activity in the gold market. On Monday your secretary/treasurer wrote to the bank's public information office calling attention to GATA consultant Robert Lambourne's latest analysis of the bank's October statement of account involving gold, which Lambourne construed to show a substantial increase in the bank's use of gold swaps.

Another insider feels compelled to admit the gold market is rigged
By: Chris Powell
Writing over the weekend for the Sharps Pixley bullion dealership in London, market analyst Lawrie Williams confided that he increasingly believes that the gold market is being rigged. Williams wrote that he has been pushed to such a conclusion by the growing number of smashes to the market out of the blue.

news.goldseek.com >> 13 November 2017

Gartman Letter relies on GATA's disclosure of BIS' latest intervention in gold
By: Chris Powell
Of course a little attribution to GATA would have been courteous, but if The Gartman Letter can acknowledge the surreptitious involvement in the gold market by the BIS and its likely suppressive influence on the price of the monetary metal, the word is probably getting around pretty well these days, even if no financial journalist dares yet question the BIS about what it's doing and on whose behalf.

news.goldseek.com >> 12 November 2017

BIS gold swaps rose substantially in October
By: Robert Lambourne
The information provided in the BIS monthly statement of account is not sufficient to calculate a precise amount of gold-related derivatives, including swaps, but it appears that the total exposure has risen above 570 tonnes of gold as of October 31. This compares to an estimate of close to 500 tonnes as of August 31 and an audited figure of 438 tonnes as of March 31.

Shilling for Bundesbank, FT avoids key questions about gold
By: Chris Powell
Yesterday the Financial Times continued its campaign to persuade the world that nothing deceptive is going on in the gold sector, publishing a long article lauding the German Bundesbank and its board member, Carl-Ludwig Thiele, for flawlessly arranging the repatriation of some of the central bank's gold from London, Paris, and New York.

news.goldseek.com >> 10 November 2017

CNBC can't understand gold's sudden drop today
By: Chris Powell
Gold futures dropped suddenly, losing almost 1 percent of their value in about 15 minutes. Trading volume also picked up during the selling activity. Gold futures for December delivery were down 0.9 percent as of 11:52 am in New York after stabilizing following the sudden decline. It was not immediately clear what caused the drop.

news.goldseek.com >> 29 October 2017

Bill Murphy: Nearly two decades of fighting the Gold Cartel
By: Bill Murphy
What we have learned over all this 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 too AND included the Fed, The Treasury, Exchange Stabilization Fund, BIS and other central banks.

news.goldseek.com >> 26 October 2017

Chris Powell: The essentially prohibited questions about the price of gold
By: Chris Powell
Ordinarily news organizations are most interested in questions that high government officials refuse to answer. But mainstream financial news reporters are not interested in questions about secret government intervention in the gold market and secret interventions in markets generally. No, such questions are too sensitive, considered matters of national security. The best that mainstream financial news organizations can do is just to acknowledge the questions sometimes. Mainstream financial news organizations can never pursue the answers, no matter how easy it would be to do so.

news.goldseek.com >> 24 October 2017

The gold crime technical analysis can't see or defend against
By: Chris Powell
What does Saville suppose is the purpose of these interventions if not to affect gold's price, especially amid all the records in government archives found by GATA and its friends affirming the objective of Western central banks to remove gold from the international financial system? Does any gold investor who lived through the price smash of April 2013 really feel that the monetary metal resolutely follows Saville's idea of its "fundamentals"?

news.goldseek.com >> 20 October 2017

Why central banks disagree with Gary North about gold
By: Chris Powell
But of course central banks and governments do sell gold. They "lease" it too, insofar as they at least put gold credits into the marketplace. They buy and sell gold derivatives. They buy gold back when they can do so without spiking the price. They do this to control the monetary metal and -- at least in the sphere of influence of the United States -- to try to drive it out of the world financial system. They aim to maintain the superiority of the U.S. dollar or the International Monetary Fund's Special Drawing Rights, a contrivance that long has been largely under the U.S. government's control.

news.goldseek.com >> 9 October 2017

The questions that deniers of monetary metals market rigging won't answer
By: Chris Powell
Newsletter writer Steve Saville of The Speculative Investor, who long has denied that manipulation of the monetary metals markets means much over the long term, has seized on the recent essay by Keith Weiner of Monetary Metals as the conclusive refutation of silver market analyst Ted Butler's longstanding complaint that JPMorganChase has been rigging the silver market.

news.goldseek.com >> 8 October 2017

Explaining gold price suppression, Indian magazine cites GATA, Butler, Sprott
By: Chris Powell
While there's no telling when exposure of Western central banking's longstanding scheme to suppress monetary metals prices will explode the scheme, word is getting around the world. This is signified by a long commentary published in this month's edition of an Indian magazine of politics and economics, Swarajya, written by Shanmuganathan Nagasundaram, founder of a financial consulting firm.

news.goldseek.com >> 29 September 2017

President's top candidate to lead Fed knows all about gold market rigging
By: Chris Powell
President Trump's top candidate for the next chairman of the Federal Reserve Board appears to be former board member Kevin M. Warsh, who has complained repeatedly about the Fed's manipulation of markets and in 2009 revealed to GATA that the Fed has secret gold swap arrangements with foreign banks.

news.goldseek.com >> 22 September 2017

Charles Hugh Smith: The demise of the dollar? Don't hold your breath
By: Chris Powell, GATA
The U.S. dollar is not likely to be displaced as the world reserve currency by another country's currency, financial writer Charles Hugh Smith argues this week, because no other country has an economy large enough to support a reserve currency and the willingness to let its currency trade freely.

news.goldseek.com >> 20 September 2017

LBMA pledges 'transparency,' so where are the gold swaps and leases?
By: Chris Powell
Writing in the September issue of the World Gold Council's Gold Investor newsletter, London Bullion Market Association Chief Executive Ruth Crowell writes that the organization is committed to delivering transparency and so its members will disclose their transactions with governments, central banks, and the Bank for International Settlements, including gold swaps, leases, and gold-related derivatives.

news.goldseek.com >> 19 September 2017

Dave Kranzler: Why is the BIS flooding the system with gold?
By: Chris Powell
Gold swaps by the Bank for International Settlements, Dave Kranzler of Investment Dynamics writes today, correlate inversely with the gold price. That is, the more gold is swapped by the BIS, the more metal is made available to bullion banks for sale into the market and shipment to Asia to prevent demand there from boosting gold's price.

news.goldseek.com >> 18 September 2017

Dennis Gartman dons tinfoil hat: BIS trying to keep gold down
By: Chris Powell
Regarding gold, Friday was again a day when the gold market bears ruled and they are continuing to put pressure upon prices this morning. We draw attention then to the chart of gold included this morning at the upper left of Page 1, paying heed to the trend line drawn. It is under assault and is indeed in danger of being broken to the downside.

news.goldseek.com >> 17 September 2017

BIS gold swaps soar from zero to record high
By: Chris Powell
Disclosures in the August statement of account published by the Bank for International Settlements indicate that during August the bank increased substantially its use of gold swaps. An estimated 130 tonnes of new gold swaps were made last month, worth about $5.9 billion at the month-end gold price, and the total level of gold swaps at the end of August was close to 500 tonnes.

news.goldseek.com >> 13 August 2017

Wall Street Journal still isn't ready to question central banking
By: Chris Powell, GATA
The Wall Street Journal's feeble attempt this week to acknowledge the issue of gold market rigging by the U.S. government at least landed on the newspaper's front page today. You can see its display at the lower left side of the page here...

news.goldseek.com >> 11 August 2017

FLASH: Wall Street Journal acknowledges gold leasing and swaps question ...
By: Chris Powell, GATA
Former U.S. Rep. Ron Paul, the senator's father, has been outspoken about what he says is taxpayers' need for more transparency about gold from the Fed. "Even if you could walk into that vault and see a lot of gold, you wouldn't know ... whether it's been loaned out or sold," he said. "They haven't convinced me that we have total control of it."

news.goldseek.com >> 26 July 2017

Trader Lanci says there's no 'fat finger' but plenty of market manipulation
By: Chris Powell, GATA
Vince Lanci of Echobay Partners in Stamford, Connecticut, says "flash crashes" in gold and silver are caused largely by computer trading algorithms probing for stops in the futures markets. Lanci says he considers this to be market manipulation and notes that manipulation of the gold and silver markets already has been admitted in the pending anti-trust lawsuit against Deutsche Bank and other investment banks.

news.goldseek.com >> 19 July 2017

Why not sue Comex for facilitating the rigging of monetary metals markets?
By: Chris Powell, Secretary/Treasurer, GATA
The U.S. Commodity Futures Trading Commission likely won't ever do anything about that. But I wonder if anyone has looked into whether the Comex and its operator, CME Group, might be held liable for knowingly facilitating or aiding and abetting illegal activity? Perhaps a civil lawsuit seeking damages or an injunction might prompt changes in the monetary metals futures exchange to prevent manipulation. Your thoughts?

news.goldseek.com >> 13 July 2017

CME Group CEO calls gold wildly underpriced but feigns nothing to do with it
By: Chris Powell, Secretary/Treasurer, GATA
The TF Metals Report calls attention to an interview given today to Fox Business News by Terry Duffy, CEO of CME Group, operator of the major futures exchanges in the United States, in which Duffy said gold is underpriced by thousands of dollars per ounce. But Duffy attributes the underpricing not to the rigging of the futures markets by the governments and central banks that receive volume discounts for their surreptitious trading in CME Group futures contracts, about which Duffy surely knows...

news.goldseek.com >> 9 July 2017

What's ailing gold -- futures market rigging or newsletter bullishness?
By: Chris Powell, Secretary/Treasurer, GATA
Writing for the Daily Reckoning, fund manager and author James G. Rickards says supplies of real gold are tight, prices are being suppressed by manipulation of gold's futures market, regulators have signalled that "this is a big boy's market and players can do whatever they want as long as it’s not too blatant," the June 26 flash crash in gold was probably undertaken to knock gold call options out of the money a day before expiration, and market manipulations always fail eventually.

U.S. government is authorized to rig all markets, GATA secretary says
By: Chris Powell, Secretary/Treasurer, GATA
Mike Gleason of Money Metals Exchange in Idaho this week interviewed your secretary/treasurer, who argued that market regulators in the United States are powerless against market rigging instigated by the U.S. government itself, which is fully authorized by federal law to rig markets in secret anywhere in the world. Financial institutions trading on the U.S. government's behalf, your secretary/treasurer said, may share the government's immunity in the scheme.

news.goldseek.com >> 26 June 2017

For mainstream news agencies, gold's flash crash must be somebody's 'mistake'
By: Chris Powell, Secretary/Treasurer, GATA
Gold tumbled to its lowest price in nearly six weeks as a large sell order and a stronger dollar hit sentiment today, though losses were limited by political uncertainty around the world. ... The sale of 18,500 lots of gold, totalling 1.85 million ounces, and 5,000 ounces of silver in 5,500 lots on Comex in a short space of time was behind falling prices, said Afshin Nabavi, head of trading at MKS in Switzerland.

news.goldseek.com >> 8 June 2017

Gold's counterintuitive movement is an old story but can't be told
By: Chris Powell, GATA
Kranzler writes: "One/some/several 'entities' decided at 9:38 a.m. this morning that it was necessary to dump 14,315 contracts of paper gold. This is just the August contract. In total a lot more was unloaded. This represents 1.43 million ounces of gold. The Comex is showing only 900,000 ounces of 'gold' as 'registered,' or available for delivery in June, July, and August (assuming all of that gold is actually sitting physically in the Comex vaults as reported). If we make that generous assumption, 531,000 ounces of paper gold was naked-shorted."

news.goldseek.com >> 24 May 2017

No major news organization wants the financial news story of the century
By: Chris Powell, Secretary/Treasurer, GATA
Yes, that market manipulation should be discussed at such length by a mainstream financial news organization is remarkable progress. But while at the conclusion of the interview with Asher a member of the CNBC panel wonders where records of the PPT's interventions might be found, there is no suggestion that financial journalists should investigate possible interventions.

news.goldseek.com >> 23 May 2017

Ronan Manly: Central bankers wanted gold suppressed to keep oil flowing
By: Chris Powell, Secretary/Treasurer, GATA
Western central banks conspired about controlling the gold price in the early 1980s because they realized that gold was an indicator of inflation and its rise helped push commodity prices up, according to the second set of archival documents published today by gold researcher Ronan Manly. But, the documents show, the central bankers also sought to facilitate the flow of low-priced gold to oil-producing countries in exchange for their continuing to supply oil to the West at low prices.

news.goldseek.com >> 17 May 2017

Central banks kept conspiring against gold long after it left the financial system
By: Chris Powell, Secretary/Treasurer, GATA
The documents from the Bank of England's archive published today by gold researcher Ronan Manly showing an attempt by central bankers in 1979 to create a second "gold pool" to control the price of the monetary metal, may be most important because, while they are 37 years old, they show the central bankers conspiring against the monetary metal long after it was officially removed from the international financial system.

news.goldseek.com >> 14 May 2017

State Dept. memo explains U.S. policy to drive gold out of financial system
By: Chris Powell, Secretary/Treasurer, GATA
A long memorandum written in March 1974 by a U.S. State Department official for Secretary of State Henry Kissinger and copied to future Federal Reserve Chairman Paul Volcker, then the Treasury Department's undersecretary for monetary affairs, describes the desire of the United States and its options to prevent European countries from increasing the use of gold in the international financial system.

news.goldseek.com >> 7 May 2017

Those attacks on gold don't come from Adam Hamilton's mere 'speculators'
By: Chris Powell, Secretary/Treasurer, GATA
Yes, gold and gold stocks are "wildly oversold," but no amount of touting is going to get them up until the sector and the people who write about it have the wit, integrity, and courage to identify just who is keeping them down and why.

news.goldseek.com >> 9 April 2017

'This is the business we've chosen'
By: Chris Powell, Secretary/Treasurer, GATA
I understand the industry's cowardice. No industry is more vulnerable to government than the mining industry -- for its mining permits, royalty requirements, and environmental regulation compliance. Since it is the most capital-intensive industry, with an ordinary mine commonly requiring a billion dollars in financing to get started, the industry is also very dependent on the biggest investment banks, which in turn are formally agents of the central banks. Governments and investment banks may not respond well to complaints from gold and silver mining companies about suppression of monetary metals prices.

news.goldseek.com >> 7 April 2017

Why invest in gold miners if they won't defend themselves?
By: Chris Powell, Secretary/Treasurer, GATA
The biggest development in gold and silver market manipulation in the last year has been Deutsche Bank's admission that its traders conspired with traders from other big investment banks to suppress gold and silver futures prices. This admission by Deutsche Bank came as part of its response to class-action antitrust lawsuits brought against it and its co-conspirators in U.S. District Court in New York. Deutsche Bank has provided the plaintiffs with transcripts of electronic messages between the traders showing them coordinating their trades to smash gold and silver prices down.

news.goldseek.com >> 3 April 2017

GATA secretary discusses gold market rigging on CNBC Asia
By: Chris Powell, Secretary/Treasurer, GATA
CNBC Asia's "Squawk Box" program with Bernie Lo in Hong Kong this morning gave your secretary/treasurer five or six minutes to discuss recent developments in gold market rigging by central banks. A two-minute, 30-second excerpt from the interview is posted at the CNBC archive here.

news.goldseek.com >> 30 March 2017

Guess why JPM might get away with exceeding position limits in silver futures
By: Chris Powell, Secretary/Treasurer, GATA
Since a few years ago JPMorganChase CEO Jamie Dimon said the bank had no position of its own in silver and was just trading on behalf of clients, its seeming violation of position limits supports suspicion that the bank's clients in silver (as well as gold) are governments, particularly the governments of the United States and China.

news.goldseek.com >> 29 March 2017

In broadcast to India, GATA secretary says free market in gold would enrich the country
By: Chris Powell, Secretary/Treasurer, GATA
In a broadcast from Singapore yesterday, CNBC's news channel affiliate in India, CNBC-TV18, gave your secretary/treasurer six minutes to assert that for the time being the gold price will be determined largely by surreptitious trading by central banks and that India's government should stop fighting the desire of its people for golden money. Your secretary/treasurer argued that while India is a developing country, with an estimated 24,000 tonnes of the monetary metal in private and temple possession, it might become the richest country if gold was allowed to trade without central bank interference.

news.goldseek.com >> 15 March 2017

Love of technical analysis blinds fund manager to evidence of market manipulation
By: Chris Powell, Secretary/Treasurer, GATA
GATA may be glad if Weiner finds the gold and silver communities overwhelmingly convinced of its years of work, though of course this convincing does not yet seem to have succeeded with gold and silver mining companies themselves. But we can't be glad that Weiner himself maintains that there is no evidence of this market manipulation -- that, to the contrary, he believes, as other technical analysts do, that gold and silver prices are the products of his technical analysis and mathematical formulas.

news.goldseek.com >> 14 March 2017

'Conspiracy' defines government, and 'cowardice' the monetary metals mining industry
By: Chris Powell, Secretary/Treasurer, GATA
So to ask a gold or silver mining company to overcome its cowardice and to stand up for its shareholders against central banks and governments is asking a lot. But after all these years of price suppression, such companies should ask themselves whether, if, as it seems, they are in danger of dying from futures market derivatives underwritten by governments and central banks, they want to die on their knees or on their feet.

news.goldseek.com >> 5 March 2017

Mining entrepreneur, Clinton confidant Giustra concedes gold price suppression
By: Chris Powell, Secretary/Treasurer, GATA
The price of gold has been heavily suppressed by the U.S. government, Wall Street financial houses, and the banking system, according to billionaire Canadian mining and movie entrepreneur Frank Giustra, a confidant and philanthropy associate of former President Bill Clinton. Giustra's remarks were made in late January at the Vancouver Resource Investment Conference during an interview with Marin Katusa of Katusa Research and were publicized today by GATA Board of Directors member Ed Steer's Gold and Silver Daily newsletter.

news.goldseek.com >> 3 March 2017

Now that the silver rig is as obvious the gold rig, will anyone else speak out?
By: Chris Powell, Secretary/Treasurer, GATA
Central banks gave their gold game away in April 2013 when they used the futures markets to knock the price down by more than $200 with relentless selling over several days. The selling had to be inspired by central banks because there was no important relevant news in the market to spook investors and because nobody else would have had access to the huge amounts of metal and capital involved.

news.goldseek.com >> 27 February 2017

GATA Chairman Bill Murphy's presentation to the Dollar Vigilante conference in Acapulco
By: Chris Powell, Secretary/Treasurer, GATA
GATA was formed in January of 1999 by Chris Powell and myself to thwart the manipulation and suppression of the gold price by the leading bullion banks. It became apparent this was the case after the very visible hedge fund, Long Term Capital Management, blew up in September of 1998. They were short some 400 tonnes of gold on their books, which should have been covered, liquidated like all their other positions. To prevent the price of gold from soaring in that event, the likes of a JP Morgan and Goldman Sachs banded together to keep the price below $300 an ounce.

news.goldseek.com >> 26 February 2017

Central banks may have been evil with gold but not stupid
By: Chris Powell, Secretary/Treasurer, GATA
Western central banks may be the corrupt and even evil instruments of the financial class, and to preserve their power they may be prepared to do any amount of damage to the world, particularly by destroying markets, the engines of humanity's economic progress. But stupid? Not when central banks have gained and kept control of the world's money and thus control of the valuation of all capital, labor, goods, and services in the world. What's stupid is any society that doesn't rise up against them or at least demand disclosure of their surreptitious operations.

news.goldseek.com >> 20 February 2017

World Gold Council fails to ask Greenspan about central bank intervention against gold
By: Chris Powell, GATA
This is an especially spectacular failure in light of Greenspan's admission of that involvement in his testimony to Congress in July 1998, wherein he acknowledged that central banks are prepared to lease gold in "increasing quantities" to suppress its price..

news.goldseek.com >> 12 February 2017

Russia notes that German gold in U.S. was just a mirage
By: Chris Powell, Secretary/Treasurer, GATA
Today's report from Sputnik News, a division of the Russian government's international information agency, shows just how closely that government is watching not just the gold market but also, it seems, GATA's work. That is, the report addresses suspicions raised by GATA's friends in Germany's "Repatriate Our Gold" movement and reported almost exclusively by GATA that Germany's gold reserves vaulted with the United States were never more than gold credits until the Bundesbank sought to repatriate the gold in recent years.

news.goldseek.com >> 18 January 2017

What was the 'strong-dollar policy' except gold leasing and price suppression?
By: Chris Powell, Secretary/Treasurer, GATA
GATA long has maintained that the "strong-dollar policy" was mainly gold price suppression, implemented largely through the gold carry trade devised by President Clinton's treasury secretary, former Goldman Sachs Chairman Robert Rubin, an enterprise in which Western central banks "leased" gold to investment banks at negligible interest rates and encouraged them to sell the metal and invest the proceeds in U.S. government bonds paying closer to 5 percent.

news.goldseek.com >> 12 January 2017

Gold swaps by BIS exploded in 2016 from nothing to record level
By: Robert Lambourne
Disclosures in the monthly statements of account published by the Bank for International Settlements since March 2016 indicate that in the last nine months of 2016 the bank increased substantially its use of gold swaps. There is not enough information in the monthly reports to calculate the exact amount of swaps, but based on the information in the BIS' December 2016 statement of account, the bank's gold swaps likely stood in excess of 480 tonnes as of the end of the calendar year.

news.goldseek.com >> 4 January 2017

Saville doesn't get it: Rig the gold price and you rig all prices
By: Chris Powell, Secretary/Treasurer, GATA
The problem is that gold, an international reserve currency, is powerfully connected to all other markets. Manipulate the gold price and you manipulate all currency values. Manipulate all currency values and you manipulate the price of everything valued in currencies. That covers just about everything except maybe your dog's affections.

State Dept. cable confirms gold futures market was created for price suppression
By: Chris Powell, Secretary/Treasurer, GATA
The cable reads: "The major impact of private U.S. ownership, according to the dealers' expectations, will be the formation of a sizable gold futures market. Each of the dealers expressed the belief that the futures market would be of significant proportion and physical trading would be miniscule by comparison. Also expressed was the expectation that large-volume futures dealing would create a highly volatile market. In turn, the volatile price movements would diminish the initial demand for physical holding and most likely negate long-term hoarding by U.S. citizens."

news.goldseek.com >> 2 January 2017

Germany's gold reserves in U.S. were only paper claims
By: Gold Anti-Trust Action Committee
As it often has done before, Germany's Bundesbank has released news at Christmastime to avoid critical examination and discussion, this time news about its repatriation of the nation's gold reserves. The repatriated tonnage volume reported -- "approximately 200 tonnes," bringing the total of gold repatriated to approximately 1,580 tonnes or 47 percent of Germany's gold reserves -- is OK, not spectacular. And this month there was far more important news about Germany's gold, though it was overlooked.

news.goldseek.com >> 28 December 2016

GATA secretary interviewed at length on Russia 24's 'Geo-Economics' program
By: Chris Powell, GATA
Last week's "Geo-Economics" program on the Russia 24 television network, the round-the-clock news channel based in Moscow, gave your secretary/treasurer a lot of time to discuss gold's role as an international currency and the policy of Western governments to subvert it in favor of the U.S. dollar. The program cited the Russian government's steady acquisition of gold as well as the Indian government's interference with gold purchases by its citizens.

news.goldseek.com >> 21 December 2016

Why invest in the monetary metals and their miners if they won't defend themselves?
By: Chris Powell, Secretary/Treasurer, GATA
The more it exposes and documents manipulation of the monetary metals markets by governments, central banks, and their agents in the financial industry, the more GATA is resented by those in the monetary metals industry who are merely touters of mining shares. That's because GATA tells people what they are up against when they invest in the monetary metals -- indeed, when they aspire to free and transparent markets and to liberty itself. So while there was a victory for GATA in this month's disgorgement in federal court in New York of Deutsche Bank's electronic records of market rigging by its traders and the traders of other banks, on the whole the revelations may have been a defeat for the mining industry.

news.goldseek.com >> 16 December 2016

Doug Pollitt: 'Tinfoil hat crowd' was right, and gold mining executives are saps
By: Chris Powell, Secretary/Treasurer, GATA
Responding to the documentation just disgorged by Deutsche Bank in federal court in New York, Doug Pollitt of investment house Pollitt And Co. in Toronto today declares victory for the "tinfoil hat crowd" in the contest over manipulation of the monetary metals markets. But more important, Pollitt chides the gold mining industry for playing saps for the banks that buy and rig the price of the industry's product.

news.goldseek.com >> 29 November 2016

Has GATA's work made any difference? Will it ever?
By: Chris Powell, Secretary/Treasurer, GATA
Yes, GATA has not yet wiped the tyranny of central banking from the face of the earth. But we have exposed to a wide audience -- an audience including at least two major governments -- the part of that tyranny that rigs the gold and currency markets, and have explained how this ultimately rigs all markets for totalitarian and imperialistic purposes. We have evidence that people are acting on this knowledge and that our work has forced the market riggers to expend even more resources and become even more obvious.

news.goldseek.com >> 27 November 2016

A diagram of secret interventions in gold and currency markets by central banks
By: Chris Powell, Secretary/Treasurer, GATA
The Money Insights internet site has published a summary of the organization of the central bank gold price suppression scheme, showing how it is part of a much broader system of the rigging of the international currency markets whose mechanisms are visible but whose operations are secret.

news.goldseek.com >> 9 November 2016

The big scandal isn't government's market rigging but news media's ignoring it
By: Chris Powell, Secretary/Treasurer, GATA
That governments intervene secretly in markets and are thereby destroying market economies and cheating investors everywhere isn't even the big scandal anymore. The big scandal is that mainstream financial news organizations won't report this intervention even as it becomes not just more obvious but spectacularly so.

news.goldseek.com >> 27 October 2016

Central banks fear exposure of their interventions, so we GATA press on
By: Chris Powell, GATA
Since 1999 the Gold Anti-Trust Action Committee has been trying to get the financial industry, the mining industry, and mainstream financial news organizations to acknowledge that the gold market is aggressively manipulated by governments and central banks to protect their currencies and bonds against competition from a potentially superior currency and store of value. This year seems to have been the one when respectable people in the financial industry gave up disputing us.

news.goldseek.com >> 18 October 2016

Dear Wall Street Journal: You don't have to be a Nazi to question central banking
By: Chris Powell, Secretary/Treasurer, GATA
The Wall Street Journal itself seems to accept this most undemocratic wielding of immense power as the natural order of things. But just as the old advertising slogan for rye bread noted that "you don't have to be Jewish to love Levy's," you don't have to be a Nazi to question central banking. Theoretically, at least, you could even be a journalist, if not at The Wall Street Journal.

news.goldseek.com >> 17 October 2016

Reply to Ross Norman: Is GATA discouraging gold investment?
By: Chris Powell, Secretary/Treasurer, GATA
Having been pressing this issue for 17 years against what seems to be all the money and power in the world, GATA knows very well that this issue is essentially prohibited in polite company. After all, the world financial system now rests on the lies that markets are free and currency values true. If those lies are ever exposed and understood, all power arrangements on the planet will change.

Ross Norman: Central bank manipulation of gold wouldn't surprise me
By: Chris Powell, Secretary/Treasurer, GATA
If you look at my article (and indeed previous ones) you will see that my aim is to defend the integrity of the London gold fix as a method to derive a fair benchmark price. My aim is not to defend the integrity of the institutions operating the fix. The reason for this is that I simply do not have the visibility over all fixing members and their every trade that I would need to say that these guys are 100-percent honest. No one does.

news.goldseek.com >> 16 October 2016

A few questions for Sharps Pixley CEO Ross Norman and other bullion bankers
By: Chris Powell, Secretary/Treasurer, GATA
Not having seen the study, GATA has no position on it, but Norman's disparagement of the lawsuits brought against the bullion banks in the London fixes is weak. For of course the plaintiffs would not have sued if they lacked a "pre-ordained desire for a guilty verdict." Further, every lawsuit in the United States is brought "in search of evidence to support it." That's what the discovery and deposition processes in lawsuits are about.

news.goldseek.com >> 11 October 2016

FT laments the lack of the gold market information it won't report
By: Chris Powell, Secretary/Treasurer, GATA
An editor and columnist for the Financial Times, Dan McCrum, writes today in commentary briefly excerpted below that the price of gold can never be explained by anything other than fashion because there is no relevant information about gold pricing. But if so, who is more at fault for that than the FT itself? For as far as GATA can determine, the newspaper has never put a critical question to any central bank about its surreptitious activity in the gold market and reported the results of such inquiry, though GATA often has provided the newspaper with extensive documentation of that activity...

news.goldseek.com >> 5 October 2016

Judge's decision in gold market-rigging case is an invitation to journalism
By: Chris Powell, Secretary/Treasurer, GATA
Yet as far as GATA can determine, no mainstream financial news organizations or even gold market analysts have ever tried putting to any central bank a critical question about its surreptitious involvement in the gold market. The decision is another reason for news organizations and market analysts to attempt journalism.

FLASH: Market-rigging lawsuit against London gold fix banks is ordered to proceed
By: Chris Powell, Secretary/Treasurer, GATA
The financial news internet site Market Slant reports today that the federal judge handling the class-action anti-trust lawsuit against the banks that operated the daily London gold price fixing system from 2006 to 2012 has ordered the lawsuit to proceed, denying the defendants' request for dismissal. Market Slant says the judge's decision cites Deutsche Bank's confession to gold market manipulation in collusion with other bullion banks.

news.goldseek.com >> 11 September 2016

If 'hardly anyone' cares about gold, why are central banks all over its market?
By: Chris Powell, Secretary/Treasurer, GATA
Is such involvement really consistent with "a market that hardly anyone cares about"? Or is it consistent with a market that central banks care very much about and that Saville and other technical analysts know very little about and want to know very little about, lest it undermine their technical analysis business?

news.goldseek.com >> 30 August 2016

Bron Suchecki: Dutch central bank hides gold bar list to conceal leasing
By: Chris Powell, Secretary/Treasurer, GATA
Bron Suchecki, formerly an executive at the Perth Mint and now vice president for operations at Monetary Metals LLC, speculates today that the Netherlands central bank has refused to make public a list of its gold reserve bars because changes in the list would indicate how much gold leasing the bank has been doing.

No one can ask why gold isn't keeping up with central bank balance sheets
By: Chris Powell, Secretary/Treasurer, GATA
A market note by two market analysts for Deutsche Bank, publicized Monday by a few news organizations, including Business Insider (see below), observed that gold's price ordinarily correlates with central bank balance sheets but that lately it has not been keeping up with the vast expansion of those balance sheets.

news.goldseek.com >> 29 August 2016

Stock touting may be a lot easier when 'nobody knows anything'
By: Chris Powell, Secretary/Treasurer, GATA
If central banks "couldn't care less about the price of gold," why are they trading it "nearly on a daily basis" and why is the BIS arranging gold swaps? Of course GATA has compiled an enormous amount of official documentation showing that central banks care desperately about the gold price and about concealing their intervention in the gold market, and always will care as long as gold is considered money, a form of money competing with central bank currencies.

news.goldseek.com >> 28 August 2016

Renewed use of gold swaps by BIS indicates strain on price suppression
By: Robert Lambourne
Recent disclosures in the monthly statement of accounts published by the Bank for International Settlements indicate the bank's renewed use of a substantial quantity of gold swaps. The annual report of the BIS for its financial year ended March 31, 2010, disclosed that 346 tonnes of gold were acquired through gold swaps from commercial bullion banks. A review of the previous use of gold derivatives by the BIS reveled that the transactions in 2009-10 were far more substantial than anything done in the bank's recent history.

news.goldseek.com >> 14 August 2016

The emperor wears no clothes but who else dares to say so?
By: Chris Powell, Secretary/Treasurer, GATA
For years GATA's premise has been that this market rigging could be defeated if it was documented, exposed, and publicized well enough. But while many people in the monetary metals industry have come to understand what is happening, few have acknowledged it in public. And while the documentation has been presented and explained to many financial news organizations, none in the mainstream have dared to pursue it seriously.

news.goldseek.com >> 4 August 2016

No one can be sure that Fed doesn't meddle with futures or ETFs
By: Chris Powell, Secretary/Treasurer, GATA
One way Saville could test his confidence that the Fed isn't involved, directly or indirectly, with index futures or ETFs would be to try to attend a meeting of its Board of Governors or Federal Open Market Committee. Of course anyone who did that would be arrested, but maybe something like that would be the only antidote to Saville's credulity -- if it is credulity and not just another contrived defense of financial newsletters that provide technical analysis of markets that were commandeered by the government long ago.

news.goldseek.com >> 3 August 2016

JPM analyst says central banks rigged markets after Brexit
By: Chris Powell, Secretary/Treasurer, GATA
The financial news Internet site Value Walk reported today that JPMorganChase's quantitative and derivatives strategy chief, Marko Kolanovic, this week issued a report asserting that the rise in stock markets after the United Kingdom's vote to withdraw from the European Union was caused by central bank intervention.

news.goldseek.com >> 21 July 2016

The magic charts of technical analysis can't penetrate central bank trading rooms
By: Chris Powell, Secretary/Treasurer, GATA
Gilburt adds that yesterday's smashing of gold and silver was ordinary market action predicted by his magic charts of technical analysis -- and maybe it was. But how does he or anyone outside central banking know that the market action had nothing to do with government intervention? Can Gilburt's charts penetrate trading rooms of the Federal Reserve Bank of New York, the Bank of England in London, the Banque de France in Paris, the International Monetary Fund in Washington, and the Bank for International Settlements in Basle?

Vindicating GATA, academic study says central banks rig markets with gold lending
By: Chris Powell, Secretary/Treasurer, GATA
"This study demonstrated that central banks have an economic interest in gold prices and directly and indirectly influence the price of gold. It also illustrated that central banks can only stabilize a falling gold price but not a rising gold price and that the stabilization can work only if it is hidden from the public and coordinated among central banks."

news.goldseek.com >> 20 July 2016

Franklin Sanders interviews 'JPMadoff' author Helen Davis Chaitman
By: Chris Powell, GATA
Chaitman and Rickards don't seem to have explained why the investment bank keeps getting away with this stuff, but GATA maintains it's because the bank often acts as the agent of the U.S. government in rigging markets -- that JPMorganChase is essentially a U.S. government agency. (Or maybe the U.S. government is a JPMorganChase agency.)

news.goldseek.com >> 15 July 2016

Monetary Metals and Valaurum show that gold remains money and pays interest
By: Chris Powell, Secretary/Treasurer, GATA
Gold's disparagers often say the monetary metal doesn't pay interest, though of course it does pay interest through gold lending, a common practice among central banks and bullion banks. Now the Monetary Metals investment house in Scottsdale, Arizona, run by Keith Weiner and Bron Suchecki, the latter formerly of the Perth Mint, has announced its own first gold leasing transaction -- to help finance the operations of the gold currency issuer Valaurum in Portland, Oregon.

news.goldseek.com >> 4 July 2016

GoldSeek Radio Nugget: Chris Powell - GATA
By: Chris Waltzek, GoldSeek Radio
GoldSeek Radio's Chris Waltzek talks to Chris Powell of the Gold Anti-Trust Action Committee in this special 40-minutes Gold Nugget interview.

Central banks playing competitive devaluation, fund manager Bass tells Real Vision
By: Chris Powell, Secretary/Treasurer, GATA
Zero Hedge today excerpts an interview done by Grant Williams' Real Vision with fund manager Kyle Bass, highlighting an observation Bass says he heard from a leading central banker a few years ago. Bass quotes the central banker speaking about the central banking fraternity this way: "So we're all trying through our treasury and our Fed to get the rest of the world to not devalue against us, while we quietly attempt to devalue ourselves against them, and it's all this race to the bottom. It is the beggar-thy-neighbor policies that we all talk about. And I believe that there is no way out."

news.goldseek.com >> 30 June 2016

News media won't report market rigging by government even when it's admitted
By: Chris Powell, GATA
The second scandal -- maybe the bigger one, since government power is always to be suspected -- is the corruption of mainstream financial news organizations, which run away from reporting market rigging by government even when it is brazenly out in the open. The corrupt news organization identified in this case is Bloomberg News, but since all other major mainstream financial news organizations are almost certainly aware of the information being suppressed by Bloomberg, they are complicit with it.

news.goldseek.com >> 17 June 2016

Analyze this (technically)
By: Chris Powell, GATA
Well, there it was Thursday, out in the open, reported by a mainstream financial news organization, Bloomberg, if without any recognition of its meaning. All the major central banks are plotting coordinated intervention in the financial markets if the United Kingdom votes next week to reclaim its independence by withdrawing from the European Union...

news.goldseek.com >> 15 June 2016

Saville loves his charts but they don't answer the market-rigging question
By: Chris Powell, Secretary/Treasurer, GATA
What first needs to be established about gold, before any judgment is made, is what governments are doing in the market and why. As much as he loves them, Saville's charts don't answer that question. Indeed, since he is a technical analyst who wouldn't have much to sell if the gold market was widely understood to be rigged, maybe that is why he loves his charts.

news.goldseek.com >> 7 June 2016

Bank of Montreal warns against other banks in gold business
By: Chris Powell, Secretary/Treasurer, GATA
And -- the amusing part -- the fund seeks to eliminate "derivatives risk (i.e., the use of unallocated gold, gold certificates, exchange-traded products, derivatives, financial instruments, or any product that represents encumbered gold)," as well as "'empty vault risk' or gold bullion lending risk (i.e., the practice of the gold custodian lending, pledging, hypothecating, re-hypothecating, or otherwise encumbering any of the investors' underlying gold bullion)."

news.goldseek.com >> 31 May 2016

Maybe they're quaint, but some people do invest as 'some sort of movement'
By: Chris Powell, GATA
As GATA is not an investment adviser but a civil rights and educational organization, it doesn't presume to tell people how to invest, though if they are going to invest in gold, of course GATA would prefer, for the sake of the free and transparent markets we pursue, that they purchase real metal and not imaginary metal, not mere claims against financial institutions that, at the behest of governments, are doing their best to control the metal's price by creating imaginary supply.

news.goldseek.com >> 30 May 2016

For how many millennia do John Plender and the FT plan to disparage gold?
By: Chris Powell
"Gold," Plender writes, "has been a bubble for millennia." Some bubble! Don't millennia compare pretty well with the individual human lifespan? For how many millennia are Plender and the Financial Times planning to keep disparaging the monetary metal? Repeating the appalling rookie mistake Rogoff himself made, Plender writes that gold "yields no dividends or interest," though central banks and others lend gold at interest every day just as government currencies are lent at interest.

Ronan Manly: London precious metals clearing's objective is ignorance
By: Chris Powell, GATA
"Firstly," Manly writes, "LPMCL keeps the entire pyramid of London's unallocated precious metals trades spinning. By not reporting any trade information, the London Bullion Market Association and LPMCL keep the entire gold world in the dark about the extent of the London paper gold trading scheme.

news.goldseek.com >> 24 May 2016

Former IMF economist asserts that gold is money as good as government bonds
By: Chris Powell, GATA
This rookie mistake is a little surprising since Rogoff's biography identifies him as having been the chief economist for the International Monetary Fund from 2001 to 2003, a period beginning just two years after the agency's staff reported secretly to the agency's board that major IMF member governments were concealing their gold leases and swaps to facilitate their surreptitious interventions in the gold and currency markets.

news.goldseek.com >> 3 May 2016

Question for Dan Norcini et al.: Are central banks rigging gold or not?
By: Chris Powell, Secretary/Treasurer, GATA
Just as Norcini has not challenged GATA's documentation of gold market rigging, he also seems not to have addressed those questions. But then no other critic of GATA has addressed them either. For as Chesterton wrote a hundred years ago, "As is common in most modern discussions, the unmentionable thing is the pivot of the whole discussion." If central banks are surreptitiously trading markets, Norcini's "technical analysis" is the least of the casualties. In that case markets and even democracy itself are finished.

news.goldseek.com >> 2 May 2016

What if central banks have NOT lost control of gold?
By: Chris Powell, GATA
Has the positioning of the big commercial traders in the monetary metals futures markets lost its value as an indicator of future monetary metals prices?

It seems like gold and silver bugs and maybe a few ordinary investors have been waiting for weeks for the usual smashing of the metals by those traders, the big investment banks, hoping to buy the next dip, only to have to watch the metals and the mining shares move steadily higher.

news.goldseek.com >> 29 April 2016

OK, Globe and Mail, why do central banks intervene in gold instead of beaver pelts?
By: Chris Powell, Secretary/Treasurer, GATA
In an interview on CNBC seven years ago, the soon-to-be-ubiquitous James G. Rickards made an observation for the ages, an observation that could be the preface for Chapter 1 of every economics textbook that aspired to be more than disinformation for the financial class. "When you own gold," Rickards said, "you're fighting every central bank in the world"

news.goldseek.com >> 28 April 2016

CFTC has no comment on Deutsche Bank's admission of gold, silver market rigging
By: Chris Powell, Secretary/Treasurer, GATA
The U.S. Commodity Futures Trading Commission will not answer questions arising from Deutsche Bank's reported agreement to pay damages for and implicate other banks in the manipulation of the gold and silver markets, a commission spokesman said today.

news.goldseek.com >> 24 April 2016

CFTC didn't know of Deutsche's market-rigging settlement until asked by GATA
By: Chris Powell, GATA
While it may be hard to believe, it seems that the U.S. Commodity Futures Trading Commission was unaware of Deutsche Bank's agreement to settle a class-action lawsuit accusing it of manipulating the gold and silver markets until GATA repeatedly sought to bring the matter to the commission's attention over the last week.

news.goldseek.com >> 22 April 2016

Russian government news agency mocks West's gold market rigging
By: Chris Powell, GATA
The government of Russia knows all about the Western central bank policy of gold price suppression. But while this policy can be reported in Russia and China, it remains a prohibited subject in the supposedly free Western press.

Are stars aligned for gold revaluation -- and is GATA finished?
By: Chris Powell, GATA
If central banks are trading the gold and commodity markets surreptitiously, directly or through intermediaries, is this trading for the traditional purposes of defeating a potentially competitive world reserve currency, or have these purposes expanded?

news.goldseek.com >> 19 April 2016

Armstrong thinks himself omniscient but knows nothing about anti-trust law
By: Chris Powell
Really, now: If what Deutsche Bank has just admitted is, as Armstrong says, merely routine, why has the bank agreed to pay financial damages and to provide evidence incriminating its fellow conspirators? Don't Deutsche Bank's lawyers know that Armstrong is omniscient? Or, if Armstrong told them of his omniscience, would they just consider him pathetic?

news.goldseek.com >> 18 April 2016

What does Deutsche Bank's confession mean for gold and silver investors?
By: Chris Powell, Secretary/Treasurer, GATA
Of course the bigger issue for GATA is whether the class-action suit against Deutsche Bank and the other banks alleged to have manipulated the gold and silver markets will expose the intervention of central banks, directly or through intermediaries. That is, for example, were Deutsche Bank and the other accused banks ever trading on behalf of central banks and front-running those central bank trades?

NY Post picks up on Deutsche's confession but where are other news organizations?
By: Chris Powell, Secretary/Treasurer, GATA
While Deutsche Bank's confession makes gold and silver market rigging impossible to deny, financial news organizations remain willing to suppress the story as they have been doing for years, lest they aggravate their advertisers and governments. So while the struggle is slowly breaking our way, it very much continues, with financial news organizations and gold and silver mining companies bearing much responsibility for the injustice they won't acknowledge.

news.goldseek.com >> 14 April 2016

Cowardice of press, miners, financial industry sustains gold market rigging
By: Chris Powell, GATA
But if central banks are in the gold market surreptitiously, what's wrong with calling it "conspiracy"? For central banks and other government officials often meet secretly to decide upon and implement a course of action -- the very definition of "conspiracy." In that case it is not "conspiracy theory" but "conspiracy fact."

news.goldseek.com >> 13 April 2016

In India broadcast, GATA secretary slams central bank gold rigging and ETFs (video)
By: Chris Powell, GATA
Chris Powell being interviewed in India.

news.goldseek.com >> 12 April 2016

Bloomberg TV and Times of India TV interview GATA secretary about gold market rigging
By: Chris Powell, GATA
Your secretary/treasurer was interviewed for a few minutes this morning in Singapore by Angie Lau in Hong Kong for Bloomberg Television's "First Up" program, discussing the ever-increasing evidence of surreptitious central bank intervention in the gold market and the need for mainstream financial news organizations to ask central banks some specific questions about it.

news.goldseek.com >> 5 April 2016

New York Fed president refuses a question about gold swaps in public
By: Chris Powell, GATA
Would the New York Fed respond with such contempt to a similar inquiry from, say, The Wall Street Journal, New York Times, Reuters, Bloomberg News, or the Financial Times? The possibility of such critical and specific questioning about the Fed's surreptitious intervention in the markets probably does not worry Fed officials in the slightest. At least such questioning has never happened before.

news.goldseek.com >> 4 April 2016

GATA secretary covers gold and commodity market rigging on CNBC Asia
By: Chris Powell, GATA
Chris Powell from the Gold Anti-Trust Action Committee argues that central banks are intervening in gold markets in a bid to keep prices down.

news.goldseek.com >> 29 March 2016

Just whom is gold really so 'dangerous' to?
By: Chris Powell, GATA
And yet Kaminska concludes her parody of financial journalism by declaring that "gold is most valuable to society when it becomes a currency" -- as if gold isn't already a currency and as if governments and central banks aren't doing their damnedest to prevent the monetary metal from becoming even more of a currency competing with their own currencies.

news.goldseek.com >> 23 March 2016

All central banks swap gold, Venezuelan central banker says, but who asks why?
By: Chris Powell, Secretary/Treasurer, GATA
In Venezuela's case the objective is plain: The kleptocratic regime that has driven the country into the ground needs foreign currency, for which the national patrimony is being pawned. But what are the Fed's purposes with gold swaps? And if Morantes is correct that "all" central banks undertake gold swaps, what are their purposes? What are they doing in the gold business? Is the objective similar to that of gold leasing by central banks, which, as Federal Reserve Chairman Alan Greenspan told Congress in 1998, was undertaken to hold the gold price down?

news.goldseek.com >> 20 March 2016

MarketWatch can report market-rigging rumor, so why not market-rigging fact?
By: Chris Powell, Secretary/Treasurer, GATA
MarketWatch tonight produces a true wonder of financial journalism. It's a story acknowledging a rumor about "conspiracy theory" involving central banks, a rumor that MarketWatch blithely declines to investigate by questioning any central banker. The rumor -- speculation, really -- is that, far from being a failure, the G-20 conference in Shanghai in February reached a secret agreement to reduce the U.S. dollar's value in the currency markets.

news.goldseek.com >> 14 March 2016

A 'radical economic theory' is gaining converts, except it's not radical at all
By: Chris Powell, Secretary/Treasurer, GATA
Bloomberg News tonight published a report, excerpted below, headlined "Ignored for Years, a Radical Economic Theory is Gaining Converts." It's called Modern Monetary Theory, but there's nothing radical about it; to the contrary, it's a tautology. That is, governments not only create money but can create as much as they want, restrained only by the prospect of currency debasement and the market and political reaction to it. Governments can't "run out of money" any more than the college basketball tournament basketball games about to begin in the United States can run out of points.

news.goldseek.com >> 7 March 2016

ECB starts reporting unallocated gold, but is it the whole story?
By: Chris Powell, Secretary/Treasurer, GATA
Our friend the Dutch economist Jaco Schipper reports an increase in transparency about gold in the monthly reserve asset reports of the European Central Bank. Since last August, Schipper notes, the ECB's monthly report has been distinguishing the allocated from the unallocated gold in the holdings of its member central banks, with less than 2 percent of the gold now being unallocated.

news.goldseek.com >> 1 March 2016

Why would a gold-mining executive want low prices to continue? That's easy
By: Chris Powell, Secretary/Treasurer, GATA
Any gold-mining company on the hunt for more assets certainly wouldn't want the market to move up before the hunt was complete, just as some gold investors, figuring that the market is starting to turn back up, lately have been hoping for one more smashing of the price by central banks so investors can establish a better entry position.

news.goldseek.com >> 29 February 2016

The gold market rigging story could be called 'The Bigger Short'
By: Chris Powell, Secretary/Treasurer, GATA
The similarities to GATA's experience are obvious, perhaps most obvious in the scene in the movie scene where two of the unorthodox fund managers visit the headquarters of The Wall Street Journal at 1211 Avenue of the Americas in New York to pitch the story to a former college classmate who has become a reporter for the newspaper. The reporter declines to pursue the story, explaining that by doing so he would be putting himself, his family, and his job at risk to chase what he calls a mere "hunch."

news.goldseek.com >> 24 February 2016

CNBC Asia interviews GATA chairman on the failing efforts to suppress gold
By: Chris Powell, Secretary/Treasurer, GATA
GATA Chairman Bill Murphy was interviewed from Dallas tonight -- Wednesday morning Hong Kong time -- by Bernie Lo on CNBC Asia's "Squawk Box" program, discussing indications that central banks and their investment bank agents are having increasing difficulty in suppressing the price of gold. Murphy added that the banks seem especially scared of silver.

news.goldseek.com >> 17 February 2016

China is likely capping Comex gold to facilitate metal's eastward flow
By: Chris Powell, Secretary/Treasurer, GATA
In analysis posted tonight at GATA Chairman Bill Murphy's LeMetropoleCafe.com, Toronto securities broker Mike Ballanger elaborates on a point made by a number of GATA's friends since the big gold smash of April 2013 -- friends like Koos Jansen, Jim Rickards, and Andrew Maguire, among others. That is, China almost certainly is very active keeping gold futures prices down so that it might acquire more real metal as it reduces the U.S. dollar component of its foreign-exchange reserves.

news.goldseek.com >> 8 February 2016

Miles Franklin's Schectman, Hoffman plan presentations in Minneapolis, Phoenix
By: Chris Powell, Secretary/Treasurer, GATA
GATA's friends Andy Schectman, president and co-founder of Minnesota bullion dealership Miles Franklin Precious Metals, and the firm's marketing director, Andy Hoffman, will continue their series of monetary metals presentations in Minneapolis on Friday, February 26, and in Phoenix on Wednesday, March 16.

news.goldseek.com >> 27 January 2016

Peter Boehringer: Bundesbank increases pace of German gold repatriation
By: Chris Powell, Secretary/Treasurer, GATA
In summary, there is good progress in the alleged pace of repatriation. This is positive in our view. But there is still no proof for anything reported by the Bundesbank about Germany's gold. There are still many counterparty, storage, and accounting risks with Germany's gold reserves. So Germany's gold might be so compromised that it could not perform its natural role as the ultimate currency reserve in case of a fiat currency crisis that created a need for Germany to change to a partially gold-backed new Deutsche mark.

news.goldseek.com >> 25 January 2016

Is GATA good or bad for the monetary metals business?
By: Chris Powell, Secretary/Treasurer, GATA
While the huge naked short position in gold that is underwritten by governments implies the profitability of long-term gold ownership, GATA can't guarantee profit to anyone. Indeed, while GATA is often accused of being permanently bullish on gold, we are also ostracized by most of the monetary metals mining industry for conveying a message the industry is too terrified to address and for telling monetary metals investors what they are up against.

news.goldseek.com >> 24 January 2016

Currency reset is more likely than China to goose the gold price
By: Chris Powell, Secretary/Treasurer, GATA
For whatever it's worth, your secretary/treasurer does not see China as any particular friend of gold. Rather, China almost certainly wants to have enough gold only so that it can start rigging the currency markets just as the United States long has been doing, gold being the prerequisite for currency market rigging.

Having helped cripple Suriname, IMF swoops down to mortgage the country
By: Chris Powell, Secretary/Treasurer, GATA
Having helped to cripple the economy of the gold- and commodity-producing South American country of Suriname, the International Monetary Fund is on the way there to put a mortgage on the little multi-racial democracy's vastly undervalued natural resources. The IMF and Suriname's government announced the mission this week. Appended are the IMF's press release and a ham-handed English translation of a news report in De Ware Tijd (The True Times), the country's largest newspaper, based in the capital city, Paramaribo.

news.goldseek.com >> 21 January 2016

Miles Franklin bullion shop's Schectman, Hoffman hold seminar in Colo. on Jan. 28
By: Chris Powell, Secretary/Treasurer, GATA
Celebrating their 27th year in the monetary metals business, GATA's supporters at the Miles Franklin bullion shop in Minnesota are planning to travel around the United States making free presentations about the monetary functions of gold and silver.

news.goldseek.com >> 12 January 2016

John Hathaway: Paper gold -- Utopia for alchemists
By: Chris Powell, Secretary/Treasurer, GATA
Hathaway argues that paper gold is overdue for a short squeeze, that the above-ground stock of gold is not as liquid and available for quelling prices as many analysts assume, that metal for immediate delivery in London and New York is shrinking fast, and that China, India, Russia, and Turkey alone are buying more gold than is being mined. He quotes GATA consultant Koos Jansen about China's gold strategy.

news.goldseek.com >> 8 January 2016

Bernanke avoids exchange about the dollar's decisive advantage
By: Chris Powell, Secretary/Treasurer, GATA
Bernanke's commentary offered four explanations for the dollar's primacy as the world reserve currency: the dollar's stable value, the liquidity of U.S. financial markets and the market for U.S. Treasury securities, the safety of dollar assets and particularly the safety of U.S. Treasury securities, and the Federal Reserve's functioning as the lender of last resort.

news.goldseek.com >> 6 January 2016

Comex gold inventories don't matter as much as central bank inventories do
By: Chris Powell, Secretary/Treasurer, GATA
The Perth Mint's Bron Suchecki today notes that gold inventories on the New York Commodities Exchange are not necessarily a good indicator of tightness in the gold market, since "eliglble" gold -- gold in Comex warehouses -- easily can be converted to "registered," gold available for delivery against Comex contracts.

news.goldseek.com >> 23 December 2015

Canadian lawsuit accuses former London gold fix banks of market manipulation
By: Chris Powell, Secretary/Treasurer, GATA
Though the bullion banks are almost certainly agents and intimate customers of central banks, the lawsuit makes no accusations against central banks, probably because gold market rigging by Western central banks is specifically authorized by law -- in the United States by the Gold Reserve Act of 1934, as amended -- and possibly because rigging of the gold market by central banks is an officially prohibited subject among Western financial news organizations and thus any mention of central banks in the lawsuit would have disqualified the suit from any publicity at all.

news.goldseek.com >> 17 December 2015

Failing to support his charge against GATA, financial letter writer changes subject
By: Chris Powell, Secretary/Treasurer, GATA
Gilburt's basic position seems to echo the position expressed by market analyst Doug Casey at last year's New Orleans Investment Conference: that central banks are irrelevant to markets and so what they do doesn't matter, though they create infinite money and throw much of it around in secret. But Gilburt seems most interested in touting the profitability of the technical analysis of markets provided by his financial letter. If he can make money, either by trading or selling his letter, Gilburt apparently couldn't care less whether markets are free, transparent, and fair. That's his right but he has run away from his original criticism of GATA: that GATA has misconstrued the documentation of central bank intervention in the gold market.

news.goldseek.com >> 15 December 2015

Has GATA taken things out of context? China doesn't think so
By: Chris Powell, Secretary/Treasurer, GATA
Gilburt mistakenly perceives GATA's work as being to predict imminently higher prices for gold. While higher prices are implicit in the huge short position central banks long have been underwriting in the gold market, GATA's work is not to give investment advice, nor to predict prices. Rather GATA's work has been to document, publicize, and oppose the largely surreptitious intervention in the gold market by central banks, and to oppose their market rigging generally.

news.goldseek.com >> 14 December 2015

Koos Jansen: China's gold acquisition is likely more than FX diversification
By: Chris Powell, Secretary/Treasurer, GATA
Gold researcher and GATA consultant Koos Jansen today locates a Dutch newspaper report from 1993 indicating that the People's Bank of China was buying gold in the London market long before any imbalance in its foreign-exchange reserves was perceived as a problem. As a result, Jansen writes, he suspects that China's gold buying well may be part of a longstanding plan among central banks for a resetting of the international financial system.

news.goldseek.com >> 10 December 2015

Gold and currency market rigging controls the world, GATA secretary tells Daily Coin
By: Chris Powell, Secretary/Treasurer, GATA
Interviewed yesterday by Rory Hall for The Daily Coin, your secretary/treasurer discussed the decline in gold ready for delivery against futures contracts on the New York Commodities Exchange, China's hastening acquisition of gold, the unreliability of official gold reserve data, the use of gold by central banks to control the currency markets, the authority U.S. law gives the U.S. government to rig all markets in secret, and the use of currency market rigging to control the world, just as currency market rigging was the primary mechanism by which Nazi Germany exploited occupied Europe during World War II.

news.goldseek.com >> 7 December 2015

Gold is the ultimate weapon against the 'imperial project'
By: Chris Powell, Secretary/Treasurer, GATA
Controlling the world through currency market rigging is actually an old story. While the world imagines Nazi Germany's looting of occupied Europe during World War II as a matter of soldiers with bayonets on their rifles breaking into banks, shops, and museums and carrying away the contents, the primary Nazi method of expropriation was actually currency market rigging.

news.goldseek.com >> 6 December 2015

Will U.S. ease off gold price suppression to offset rate-rise boost to dollar?
By: Chris Powell, Secretary/Treasurer, GATA
While the Fed's raising U.S. interest rates would tend to strengthen the dollar and increase the burden of dollar-denominated debt, about which the BIS and many others are warning, a simultaneously rising gold price would tend to devalue the dollar. It would be one foot on the brake ostentatiously, the other foot on the accelerator surreptitiously, allowing the Fed to save face after its many postponements of raising rates while continuing to support asset inflation.

news.goldseek.com >> 2 December 2015

NOW they tell us: Ron Paul, Kitco's Cambone discuss gold market manipulation
By: Chris Powell, Secretary/Treasurer, GATA
Former U.S. Rep. Ron Paul told Daniela Cambone of Kitco News on Tuesday that the gold market is manipulated by the U.S. government to support the dollar, that the government is fully authorized to manipulate the market through the Treasury Department's Exchange Stabilization Fund, and that everyone pretends that it isn't happening.

news.goldseek.com >> 27 November 2015

Is this the Gold Cartel's end game?
By: Bill Murphy
Right around the turn of the century (sounds like a long time ago) I toured the South African countryside on behalf of GATA. It was in early 2001 ahead of GATA's conference in May that year. It was quite a journey as it took me to Cape Town, Johannesburg, Pretoria, and then Durban, where the conference was to be held.

news.goldseek.com >> 24 November 2015

The scandal isn't what's illegal -- it's what's perfectly legal
By: Chris Powell, Secretary/Treasurer, GATA
Much of GATA's documentation consists of the records of surreptitious gold trading by governments and even admissions by central bankers that such trading is undertaken secretly to control the gold price. After all these years of market rigging they wouldn't leave themselves open to a charge that it was illegal. Of course mainstream financial news organizations won't touch this issue; doing so would enrage their governments and reveal that their reporting has been and remains a big hallucination -- that as a high school graduate put it at GATA's Washington conference seven years ago, "there are no markets anymore, just interventions"

news.goldseek.com >> 16 November 2015

10 years ago Peter George told you that gold would fall today
By: Chris Powell, Secretary/Treasurer, GATA
Last night in the aftermath of the terrorist attacks in Paris news organizations were speculating that the price of gold would rise today because of international tensions and turmoil. Longtime followers of GATA might have just laughed, knowing that gold would continue to perform counterintuitively on account of surreptitious crisis intervention by central banks.

news.goldseek.com >> 12 November 2015

Sentiment means nothing in the gold 'market,' but GATA's is to press on
By: Chris Powell, Secretary/Treasurer, GATA
Yes, our little nonprofit educational and civil rights organization may need a bit more time to overthrow all the central banks -- the creators of infinite money, the wielders of infinite power in secret -- and thereby establish free and transparent markets and restore limited and accountable government in the civilized world. If mere sentiment made any difference in the face of that power, we in GATA might almost write despairing farewell notes and shoot ourselves tonight so that we could become the decisive contrarian indicators and thereby assure the success of our cause.

news.goldseek.com >> 6 November 2015

Comex gold data doesn't matter; only central bank gold data does, and it's top-secret
By: Chris Powell, Secretary/Treasurer, GATA
Gold from governments and central banks can be added to the Comex system almost instantaneously, and governments and central banks will never let the market know how much metal remains available to them for currency market control. Indeed, that information -- the true location and disposition of government gold reserves -- is the most sensitive information on the planet, for it would reveal the amount of ammunition available to governments for market intervention.

news.goldseek.com >> 1 November 2015

Martin Armstrong is too brilliant to understand that time is money
By: Chris Powell, Secretary/Treasurer, GATA
Claiming breathtaking omniscience with his latest commentary, the economist and market analyst Martin Armstrong asserts that market manipulation is nothing to worry about and that complaints of manipulation of the gold market are nonsense.

news.goldseek.com >> 29 October 2015

Central banks, LBMA are one and the same; and gold price suppression's Asian angle
By: Chris Powell, Secretary/Treasurer, GATA
There's a great story here, the financial news story of the modern age, about the subversion of markets, the producing class, and democracy by the unelected elite of the financial class, central banks. Too bad that the first rule of mainstream financial journalism is never to put a critical question to a central bank, and especially not a critical question about gold.

Chris Powell: Gold market manipulation update
By: Chris Powell, Secretary/Treasurer, GATA
The first is the 2013 10-k filing with the U.S. Securities and Exchange Commission by CME Group, operator of the major futures exchanges in the United States. In August 2014 Eric Scott Hunsader, founder of the market data firm Nanex in Winnetka, Illinois, called attention to a telling paragraph in the filing. The telling paragraph discloses that the customers of CME Group include "governments and central banks."

news.goldseek.com >> 27 October 2015

Austrian central bank refuses questions about executive's assertion of gold interventions
By: Chris Powell, Secretary/Treasurer, GATA
The German freelance financial journalist Lars Schall has done again what no mainstream financial journalist in the world dares to do: put critical questions about gold to a central bank. This time Schall has directed his questions to Peter Mooslechner, executive director of the central bank of Austria, who a week ago let slip in an interview with Daniela Cambone of Kitco News that central banks are using their gold reserves for secret intervention in the gold and currency markets.

news.goldseek.com >> 23 October 2015

Another flubbed interview with a central banker, thanks to the Financial Times
By: Chris Powell, GATA
Wolf plugs Bernanke's new book but in what must have been at least an hour with the former Fed chairman never poses a troublesome question, a question Bernanke doesn't want to answer, like questions about the Fed's secret interventions in markets and its resistance to freedom-of-information requests for documents.

news.goldseek.com >> 21 October 2015

Did Austrian central banker just acknowledge gold market intervention?
By: Chris Powell, Secretary/Treasurer, GATA
Did Peter Mooslechner, an executive director of Austria's central bank, interviewed this week by Daniela Cambone of Kitco News on the sidelines of the London Bullion Market Association conference in Vienna, say that Asian central banks are using their gold reserves for market intervention? That's what Mooslechner seems to have said, even as Cambone had not asked particularly about gold market intervention and did not pick up on his comment.

news.goldseek.com >> 19 October 2015

Technical analysis is useless in markets as rigged by government as gold and silver are
By: Chris Powell, Secretary/Treasurer, GATA
Sunday's market letter by Toronto market analyst and mining entrepreneur Michael J. Ballanger, whose work often appears at GATA Chairman Bill Murphy's LeMetropoleCafe.com, eloquently reiterates some points made often by GATA. Particularly, Ballanger writes, technical analysis is useless in markets as rigged by governments and their agents as the gold and silver markets are.

news.goldseek.com >> 16 October 2015

There are no markets anymore, just interventions -- in 20,000 words
By: Chris Powell, Secretary/Treasurer, GATA
Perth Mint research director Bron Suchecki today calls attention to an erudite but exceedingly long analysis of modern markets by Christopher R. Cole of Artemis Capital Management in Austin, Texas, whose central point seems to be that for years now central banks have undertaken pre-emptive market manipulation, purchasing a substantial portion of their own nations' bond and equity markets and effectively placing a put under those markets.

news.goldseek.com >> 15 October 2015

If U.S. wants to devalue dollar and debt, gold is the mechanism for it
By: Chris Powell, Secretary/Treasurer, GATA
Breakout or breakdown, your secretary/treasurer is not an investment adviser. The only advice he can offer is the advice he has been offering for years: Get all the gold and silver you can, find a safe planet to keep it on, and when you find it, please call me.

news.goldseek.com >> 12 October 2015

'Gold bugs' aren't the great concealers; central banks and financial journalists are
By: Chris Powell, Secretary/Treasurer, GATA
In the first place, while the gold business has its share of dishonorable people, the gold business is small and its dishonorable people are outnumbered a thousand to one by dishonorable people in government, central banking, and the stock, bond, and real estate businesses. And whatever a few "gold bugs" are hiding from the markets, it is trivial compared to what investment banks and central banks are hiding, about which Arends has yet to show any curiosity.

news.goldseek.com >> 8 October 2015

Peter Boehringer: Bundesbank still has failed to deliver a gold bar list
By: Chris Powell, Secretary/Treasurer, GATA
Peter Boehringer, leader of the campaign to repatriate Germany's national gold reserves, today brilliantly dismantles the Bundesbank's claim yesterday to have accounted for those reserves. First, Boehringer writes, the Bundesbank has provided not a list of gold bars by producer and serial number but rather a mere inventory list maintained by the foreign central banks vaulting the German gold, a list created by those central banks themselves for gold that may or may not exist or remain in hand.

news.goldseek.com >> 7 October 2015

Bundesbank's gold bar list isn't all that it's made out to be
By: Chris Powell, Secretary/Treasurer, GATA
Lots of publicity today about the German Bundesbank's publication of a list of the bars in Germany's gold reserves in an effort to dispel suspicions that the metal is impaired in some way. The definitive report is, not surprisingly, that of gold researcher and GATA consultant Koos Jansen, who details the history of the German gold controversy and notes that the Bundesbank's list omits crucial information and so really doesn't settle the issue at all.

news.goldseek.com >> 5 October 2015

FT columnist acknowledges 'systematic market rigging' by central banks
By: Chris Powell, Secretary/Treasurer, GATA
GoldCore's O'Byrne notes that market rigging by central banks is "a charge for which we and others have been ridiculed for making in the past." So is Plender angling for a tinfoil hat? Would the FT permit him to wear it? Would the FT ever dare to commit actual journalism about surreptitious central bank intervention in the markets, including the gold market?

news.goldseek.com >> 2 October 2015

Inflation via gold revaluation could take just minutes but probably needs longer
By: Chris Powell, Secretary/Treasurer, GATA
First, somebody is massively short gold in the fractional-reserve gold banking system. The short position is probably shared between central banks, bullion banks, mining companies, and ordinary investors. A sudden spectacular rise in the gold price could destroy some of those institutions and people, unless force majeure could be declared to nullify their obligations or government agreed to assume them. There would be immense legal difficulties there.

news.goldseek.com >> 27 September 2015

The more markets are 'financialized,' the more central banks can rig them
By: Chris Powell, Secretary/Treasurer, GATA
This misses something crucial: that the more that markets are "financialized," the more advantage passes to those with the greater access to financing. Since central banks are able to create infinite money and, as GATA has established with extensive documentation, certain central banks and their agents are the biggest shorts in the gold market and very possibly the biggest shorts in the commodity markets generally, and surreptitiously so...

news.goldseek.com >> 25 September 2015

The Philippines -- another rich country insisting on being poor
By: Chris Powell, Secretary/Treasurer, GATA
The New York Times today published an interesting report about an exhibition in Manhattan of artistic gold relics from the Philippines. The first two paragraphs are appended, along with a link to the full report. But the report may be most important for an observation deeper into the text: "Gold was always plentiful in the Philippines, readily collected by panning. Today the country is said to have the world's second richest gold deposits."

news.goldseek.com >> 23 September 2015

Ronan Manly: Central bank gold at the Bank of England
By: Chris Powell, Secretary/Treasurer, GATA
Gold researcher and GATA consultant Ronan Manly tonight publishes a huge research project -- an attempt not only to quantify the gold vaulted in the London bullion market and at the Bank of England but also to calculate the gold reserves held at the bank by individual countries. Manly concludes that gold vaulting in London has been in steady decline for years and that some nations, though far from all, are candid about their gold leasing.

news.goldseek.com >> 21 September 2015

Koos Jansen: Monetary gold escapes international trade reports
By: Chris Powell, Secretary/Treasurer, GATA
International trade record-keeping rules exempt the reporting of movement of monetary gold, gold held or purchased by governments and central banks, gold researcher and GATA consultant Koos Jansen reports today. As a result, Jansen writes, gold acquired by the People's Bank of China or other proxies for the Chinese government is almost certainly not showing up in international trade statistics.

news.goldseek.com >> 16 September 2015

Are monetary metals futures markets legitimate anymore? Are any markets?
By: Chris Powell, Secretary/Treasurer, GATA
Of course there's always metal around, especially gold, which is produced mainly to be hoarded, unlike silver, most of which is consumed in manufacturing. So the question is really the price, the ratio of monetary metal's value to the value of currencies and other assets, that will draw metal into the market, and especially the price that will be permitted by governments that issue currencies whose own value is the reciprocal of the prices of the monetary metals.

news.goldseek.com >> 10 September 2015

Is Comex gold really being critically drained?
By: Chris Powell, GATA
But international currency revaluations usually are announced on Sunday nights, before markets open for the new week. And if, in thrall to the U.S. government, Western central banks are willing to risk their last ounces of monetary metal to prevent free markets from returning, the day of deliverance could still be far off and thus it still could use hastening by clamor from gold and silver mining companies, commodity-producing countries, and investors generally.

news.goldseek.com >> 8 September 2015

Putin aide's advice: Default on foreign debt, put reserves into gold and BRICs bonds
By: Chris Powell, Secretary/Treasurer, GATA
Of course these aren't terribly original or insightful ideas. No country that uses another country's currency for its international commerce is fully sovereign, and only gold is a neutral international reserve currency. It is precisely to rope the world into the U.S. imperial system that the International Monetary Fund prohibits its members from formally linking their currencies to gold, though commodity-producing countries like Russia, South Africa, Mexico, and those in the rest of the developing world are particularly oppressed by such rules. The question long has been whether any of them will ever have the nerve to do something about it. Glazyev's report may be an invitation.

news.goldseek.com >> 21 August 2015

Is Mish Shedlock really curious about gold market manipulation?
By: Chris Powell, Secretary/Treasurer, GATA
Of course Shedlock is misleading here, since GATA has not been complaining about ordinary market makers in gold but rather about largely surreptitious intervention in the gold market by central banks. Shedlock is additionally misleading by failing to acknowledge that this intervention and a policy of price suppression particularly could be implemented with a gradually rising gold price to maintain what central banks like to call "orderly" currency markets, which are something other than free markets.

news.goldseek.com >> 9 August 2015

If gold is just a 'pet rock,' why are central banks so secretive about it?
By: Chris Powell, Secretary/Treasurer, GATA
No analysis of the gold market is worth anything if it fails to address these questions:
-- Are central banks in the gold market surreptitiously or not?
-- If central banks are in the gold market surreptitiously, is it just for fun -- for example, to see which central bank's trading desk can make the most money by cheating the most investors -- or is it for policy purposes?
-- If central banks are in the gold market for policy purposes, are these the traditional purposes of defeating a potentially competitive world reserve currency, or have these purposes expanded?
-- If central banks, creators of infinite money, are surreptitiously trading a market, how can it be considered a market at all, and how can any country or the world ever enjoy a market economy again?

news.goldseek.com >> 6 August 2015

GATA is a beacon away from the financial swamp, not a stock picker
By: Michael Ballanger
Last night I was moored in a tiny pocket in a part of Georgian Bay called Port Rawson Bay in about 10 feet of crystal-clear fresh water, with huge pines and cedars around the shoreline and rocks jutting 40 feet out of the water but without a cell phone or Internet signal, and that was scary. (Almost as scary as the legions of mosquitoes that blanketed the mesh screens that separated us from them, thanks to hockey socks stuffed into holes in the canvas and citronella candles that the little bastards detest.)

Bank of England study: Gold is best money but buying it risks offending U.S.
By: Chris Powell, Secretary/Treasurer, GATA
A Bank of England policy study written in 1988 describes gold as "the ultimate store of value and medium of exchange" because it carries no counterparty risk but cautions against increasing the United Kingdom's gold reserves because doing so might be construed as a negative comment on the U.S. dollar and thus would risk giving "great offense to the United States."

news.goldseek.com >> 29 July 2015

Dear Bloomberg News: Central banks manipulate gold prices too
By: Chris Powell, Secretary/Treasurer, GATA
For 15 years my organization, the Gold Anti-Trust Action Committee, has been documenting the surreptitious intervention in the gold market by Western central banks. By their own admissions, the central banks are surreptitiously intervening in the gold market every day, or nearly so, to control the gold price to prevent it from becoming an accurate measure of other currency values.

news.goldseek.com >> 28 July 2015

Is gold manipulated? Clif Droke thinks he knows without looking
By: Chris Powell, Secretary/Treasurer, GATA
GATA can speak only for itself. But one reason for owning gold is a belief that enough publicity will help expose the manipulation, push investors out of imaginary gold underwritten by central banks and into real metal, and liberate gold into a free market, wherein its value relative to other currencies will rise. In any case GATA isn't telling people how to invest and is not an investment adviser. It's a nonprofit educational and civil rights organization aiming to advance free markets, especially in the monetary metals.

news.goldseek.com >> 26 July 2015

Silence from the gold mining industry and timidity from the World Gold Council
By: Chris Powell, Secretary/Treasurer, GATA
On Friday your secretary/treasurer sought comment from the World Gold Council and the investor or media relations offices of six large gold mining companies about last Sunday night's attack on the gold market. Only Newmont Mining responded, saying it had no comment. Not responding were the gold council, Barrick Gold, Goldcorp, Kinross, Anglogold Ashanti, and Agnico-Eagle.

news.goldseek.com >> 24 July 2015

Will financial journalism's bear hunt lead to a dingy basement or to the BIS?
By: Chris Powell, Secretary/Treasurer, GATA
Zero Hedge tonight mocks the purported search by mainstream financial news organizations for the instigator of Sunday night's nuclear assault on the gold market, and concludes that the trail will lead either to some Indian guy trading out of the dingy basement of his parents' home in a London suburb or to the luxurious offices of the Bank for International Settlements in Basel, Switzerland, the central bank of the central banks. Of course mainstream financial news organizations would sooner interview Kim Kardashian about the gold market than ever have to direct a critical question about gold to the BIS or any other central bank.

news.goldseek.com >> 19 July 2015

Now that they're being destroyed, even respectable people can admit that GATA is right
By: Chris Powell, Secretary/Treasurer, GATA
The problem is that these people are respectable and haven't wanted to risk their respectability with the financial establishment, with which they have been doing business. Further, these people have had business obligations to other respectable people who might have been harmed by any candor. But as "financial repression" by central banks has intensified beyond all expectation, these people's businesses now are being utterly destroyed and, being destroyed, these people no longer have much to lose by acknowledging gold price suppression. Respectability no longer is of much use to them.

China's official gold reserves total is still phony -- and so is most everybody else's
By: Chris Powell, Secretary/Treasurer, GATA
China's reporting also may be no less dishonest than the reporting of gold reserves by countries that think they're being honest. For any country that vaults its gold, as many do, at the Federal Reserve Bank of New York or the Bank of England, the nerve centers of gold price suppression, may not really have what it thinks it has on any particular day.

news.goldseek.com >> 8 July 2015

A bullion banker sings in Berkeley Square
By: Chris Powell, Secretary/Treasurer, GATA
Eventually others in the gold business might wonder: Exactly who is big enough to sit on the gold price so successfully? Who has done it before and would have such enormous resources and such compelling interest to do so again? Might central banks have anything to do with it? Should someone ask them?

news.goldseek.com >> 2 July 2015

Is gold 'shrugging off Armageddon' or just being shrugged off?
By: Chris Powell, Secretary/Treasurer, GATA
My organization would welcome an honest exchange with you about these things, as your commentaries about gold seem to overlook the most relevant "narrative" about the monetary metal and ignore a substantial and serious audience quite different from the one you seem to enjoy engaging with.

news.goldseek.com >> 30 June 2015

OCC derivatives report suggests U.S. govt. has seized all commodity markets
By: Chris Powell, Secretary/Treasurer, GATA
Citing the latest quarterly report of the U.S. Office of the Comptroller of the Currency, Zero Hedge concludes tonight that JPMorganChase has "cornered the commodity derivative market," the notional value of the investment bank's commodity derivative position having just exploded from around $200 billion to nearly $4 trillion.

news.goldseek.com >> 29 June 2015

Financial system cracks, gold somehow falls, no one in authority will ask why
By: Chris Powell, Secretary/Treasurer, GATA
No one who has followed GATA for a while could have thought last night, as Greece collapsed financially and the foundations of the European Union and its currency were shaken, that gold would do anything but decline or be held steady under surreptitious central bank intervention in the markets. But at least today's price action, the most anomalous since the otherwise inexplicable smashes down in April 2013, may awaken a few of the more oblivious analysts who purport to cover the gold market.

news.goldseek.com >> 17 June 2015

For the moment, China wants gold held down as much as Western central banks do
By: Chris Powell, Secretary/Treasurer, GATA
The Bank of China is not China's central bank -- that's the People's Bank of China -- but like all big banks in China, the Bank of China is owned and operated by the government and so in whatever it does it must be construed to be implementing government policy. China may want the gold price to go up at some point, but if China lately had wanted to gold price to go up, it would have gone up already.

news.goldseek.com >> 15 June 2015

Ronan Manly: As World Gold Council's membership falls, it hikes fees to GLD
By: Chris Powell, Secretary/Treasurer, GATA
As the World Gold Council's membership of mining companies has been declining, reducing annual dues payments, the council now is generating most of its income through royalties from the exchange-traded gold fund GLD, gold researcher and GATA consultant Ronan Manly reports today. Australia's Newcrest Mining, Manly writes, is the latest major miner to withdraw from the council, though no one wants to talk about it. Manly adds that the council has just increased the charges it assesses against GLD.

news.goldseek.com >> 10 June 2015

Avery Goodman: Morgan runs Fed's gold operations at Comex, Fed guarantees exchange
By: Chris Powell, Secretary/Treasurer, GATA
Recent reports from the U.S. Commodity Futures Trading Commission and the CME Group, operator of the New York Commodity Exchange, indicate that JPMorganChase & Co. is administering the Federal Reserve's gold swapping and lending operations and that for the time being the exchange's gold contracts are being guaranteed by the U.S. government.

news.goldseek.com >> 7 June 2015

Casey Research drops Ed Steer's letter but he's continuing on his own
By: Chris Powell, Secretary/Treasurer, GATA
Strange as it seems, given the letter's substantial circulation, but Casey Research, under new management, has dropped GATA Board of Directors member Ed Steer's Gold and Silver Daily letter, effective with yesterday's edition. So Steer aims to continue the letter on his own on a paid subscription basis, maintaining all the features the letter has included during its eight years of publication by the Casey organization.

news.goldseek.com >> 20 May 2015

Correspondence: How do the market riggers rationalize what they do?
By: Chris Powell, Secretary/Treasurer, GATA
I'm sure that for the people at the Federal Reserve and Treasury Department it's also their conception of patriotism, though I think they confuse it with imperialism. If we as Americans are true to our national principles, those principles will be enough for us to lead the world and we won't need currency market rigging, which corrupts us as badly as it oppresses others.

news.goldseek.com >> 17 May 2015

Peru is another rich country insisting on being poor and pockmarked
By: Chris Powell, Secretary/Treasurer, GATA
When the gold price is suppressed by central banks, corporations -- which government easily can regulate and through which government enforces environmental safeguards and remediation -- won't mine as much of the metal and won't employ as many people. For amid price suppression, the metal can't be mined legally and responsibly; its price won't support responsible practices.

news.goldseek.com >> 14 May 2015

Make cash illegal to end boom and bust -- and liberty
By: Chris Powell, Secretary/Treasurer, GATA
If commentary published tonight in the London Telegraph is any indication, gold bugs may not be quite as paranoid as their stereotype. The commentary, written by Jim Leaviss of M&G Investments in London, argues that governments could stop the boom and bust of the business cycle if only cash was eliminated and replaced by electronic money. Leaviss says a step toward such a change is already under consideration in Denmark.

news.goldseek.com >> 13 May 2015

Gold is a market 'like all others'? What nonsense!
By: Chris Powell, Secretary/Treasurer, GATA
Of course GATA aspires to defeat this system; doing so would change the world, liberate it. Enough publicity just might accomplish this. But far from being a "permabull" for gold, GATA tells investors in the monetary metals what they're up against: an ever-intensifying phenomenon that even some central bankers call "financial repression." Thus GATA is very bad for the business of mere stock touting -- which may explain Moriarty's sneering misrepresentation.

news.goldseek.com >> 5 May 2015

Even Brown Brothers Harriman admits rigging of gold market by central banks
By: Chris Powell, Secretary/Treasurer, GATA
Dating from 1818, Brown Brothers Harriman describes itself as the oldest private bank in the United States. It is also the newest recipient of a GATA tin-foil hat, on account of its acknowledgment that central banks are surreptitiously manipulating the gold market. The acknowledgment is reported today by Ross J. Burland, editor of the FX Street Internet site, who excerpts comments made by BBH "analysts" about Venezuela's recent pawning of its gold reserves...

news.goldseek.com >> 3 May 2015

LBMA adviser, former Barclays exec will help central banks rig the gold market
By: Ronan Manly
Confidentiality in business is often a given, and in relation to precious metals, if the "additional sensitivity" in precious metals transaction was related to physical security and security of transport and vaulting, this would fall under normal "additional security." But the context of Spall's comment suggests that this "additional sensitivity" means market sensitivity. This is supported by the Spall's next observation, which clarifies that, yes, indeed, there is a need for "additional sensitivity" particularly "when it involves the official sector, such as governments, central banks, and sovereign wealth funds."

news.goldseek.com >> 30 April 2015

Central banks consider joining the LBMA. (So much for transparency.)
By: Chris Powell, Secretary/Treasurer, GATA
Will the LBMA and the central banks that join it even announce the new memberships? Would such announcement, confirming the surreptitious involvement in the gold market by central banks, be reported by mainstream financial news organizations? Would any gold market analyst, financial journalist, or gold mining company executive wonder, aloud or just to himself, what central banks are doing in the gold market and what objectives they are pursuing? Would any of them try actually putting a question about it to a central bank?

news.goldseek.com >> 24 April 2015

Venezuela pawns nearly $1 billion in gold reserves
By: Chris Powell, Secretary/Treasurer, GATA
The Central Bank of Venezuela has pawned nearly $1 billion of its gold reserves, sources close to the central bank say. The swap operation, as it is called in the financial markets, was signed with the US bank Citibank, which was chosen from a group of five international organizations, which also aspired to structure this financial instrument.

news.goldseek.com >> 22 April 2015

BIS president in 1981: We've got to start rigging the gold market
By: Chris Powell, Secretary/Treasurer, GATA
"Regulating the gold price in the free market" was recommended to central banks by the president of the Bank for International Settlements," Jelle Zijlstra, in a speech at International Monetary Fund headquarters in Washington in September 1981. The speech, located this week by gold researcher and GATA consultant Ronan Manly, was given as a lecture memorializing the former managing director of the IMF, Per Jacobsson.

news.goldseek.com >> 15 April 2015

Your taxes have nothing to do with the government's need for money
By: Chris Powell, Secretary/Treasurer, GATA
As this is federal and state tax deadline day in the United States, it's worth being reminded by Beardsley Ruml, the former chairman of the Federal Reserve Bank of New York and instigator of federal income tax withholding, that, in a fiat currency system, governments can create infinite money, that in doing so they are limited only by potential debasement of the currency, and that taxes thereby have nothing to do with raising revenue but rather are instruments of social policy and control.

news.goldseek.com >> 13 April 2015

Central bankers gather privately in Washington this Friday to discuss gold
By: Chris Powell, Secretary/Treasurer, GATA
Attention, mainstream financial journalists! Here's something else important for you to ignore this week, thanks to the diligent eye of gold researcher and GATA consultant Ronan Manly. It's a breakfast meeting to be held Friday in Washington for "a select group of central banks and other official-sector institutions," sponsored by the Official Monetary and Financial Institutions Forum and the World Gold Council, to discuss "gold, the renminbi, and the multicurrency system," convened in conjunction with the spring meeting of the International Monetary Fund and World Bank Group, a United Nations agency...

news.goldseek.com >> 12 April 2015

Somebody besides GATA calls attention to the Bank for International Settlements
By: Chris Powell, Secretary/Treasurer, GATA
Zero Hedge tonight publishes a long excerpt from what may be the most recent serious treatment of the Bank for International Settlements, the 2013 book "Tower of Basel: The Shadowy History of the Secret Bank That Runs the World" by Adam LeBor - and while it's worth reading, it may not convey much new to people who have been following GATA for more than a few months, since GATA often has called attention to the bank's crucial role in rigging the gold market on behalf of its member central banks.

news.goldseek.com >> 6 April 2015

LBMA admits London gold market can't be transparent with central banks in it
By: Chris Powell, Secretary/Treasurer, GATA
Central bank involvement may prevent the London gold market from ever becoming really transparent, the chief executive of the London Bullion Market Association has told a Bank of England study group. The LBMA chief executive, Ruth Crowell, made the assertion in a long statement dated January 30 and sent to the bank's "Fair and Effective Market Review" committee, which is studying regulation of the currency and commodity markets. The LBMA statement was found on the bank's Internet site by gold researcher and GATA consultant Ronan Manly.

news.goldseek.com >> 26 March 2015

Gold market manipulation is 'too inflammatory' to be debated at Hong Kong conference
By: Chris Powell, Secretary/Treasurer, GATA
Yesterday's concentration on gold at the spectacular Mines and Money Hong Kong conference may have inadvertently proved GATA's longstanding contention that gold market manipulation simply can't be discussed in polite company almost anywhere in the world. For at the outset of a panel discussion described as a debate about the direction of the gold price, its moderator, Rod Whyte, a longtime gold advocate and member of the Board of Directors of Australia-based business information provider Aspermont Ltd., announced that the panelists had agreed that gold market manipulation would not be discussed because the topic is "too inflammatory."

news.goldseek.com >> 23 March 2015

On CNBC Asia, GATA secretary discusses gold market rigging and its consequences
By: Chris Powell, Secretary/Treasurer, GATA
Your secretary/treasurer was interviewed this morning in Hong Kong by Bernie Lo on CNBC Asia's "Squawk Box" program, discussing gold market manipulation, the failure of mainstream financial news organizations to put critical questions to central banks about their surreptitious intervention in the gold market, the "new" gold fix in London, the market-destroying and imperialistic results of gold price suppression, and the general subversion of democracy by central banking.

news.goldseek.com >> 15 March 2015

China seems to be claiming 88 percent of world gold mine production
By: Chris Powell, Secretary/Treasurer, GATA
Bullion Star market analyst and GATA consultant Koos Jansen reports today that the international division of the Shanghai Gold Exchange is not moving gold out of China but rather supplementing the country's gold imports. As a result, Jansen writes, withdrawals from the Shanghai Gold Exchange remain a good proxy for China's domestic gold demand, and 456 tonnes have been withdrawn this year through March 6.

news.goldseek.com >> 13 March 2015

Gold market sentiment matters no more than technical analysis does
By: Chris Powell, Secretary/Treasurer, GATA
Some gold market analysts are noting that sentiment in the sector has probably never been worse. They construe this as an indicator of a bottom in the metal's price and the price of gold mining shares. But in a market as manipulated as the gold market, sentiment has no more meaning than technical analysis does.

news.goldseek.com >> 8 March 2015

Back in 1968 a British Commie also understood gold price suppression's imperial purpose
By: Chris Powell, Secretary/Treasurer, GATA
Our friend D.H., who last week called attention to a magazine article written in 1968 by a former Chase Manhattan Bank economist, Michael Hudson, amid the collapse of the London Gold Pool, showing how control of the gold price was the primary mechanism of imperialism - has located another magazine article from that time, an article possibly of even more interest because of its direct connection to international political rivalry.

news.goldseek.com >> 5 March 2015

Does Rob McEwen really not wonder why gold isn't at $5,000 already?
By: Chris Powell, Secretary/Treasurer, GATA
If there's a tougher and shrewder entrepreneur and executive in the gold mining business than Rob McEwen, founder of Goldcorp and now CEO of McEwen Mining, GATA doesn't know of one. But McEwen's remarks this week at the PDAC conference in Toronto, at least as conveyed by the National Post, suggest that he's not tough and shrewd enough -- that in the crucial respect he's just like the rest of management in the gold-mining industry, unable to put 2 and 2 together even as the equation is flashing in neon lights right in front of him.

news.goldseek.com >> 3 March 2015

Back in 2012 Brodsky and Quaintance suspected worldwide gold redistribution
By: Chris Powell, Secretary/Treasurer, GATA
Recent assertions by fund manager and geopolitical analyst James G. Rickards that the United States and China are cooperating in suppressing the gold price so that China more easily may obtain enough metal to hedge its grotesque foreign exchange surplus in dollars are not necessarily the first ones along those lines.

news.goldseek.com >> 2 March 2015

Are markets really bigger than governments? Don't count on it
By: Chris Powell, Secretary/Treasurer, GATA
Swiss gold fund manager Egon von Greyerz tonight tells King World News that hyperinflation has begun to take hold in especially troubled nations and will take hold in Europe and the United States as Western central banks resort to negative interest rates to support asset prices.

news.goldseek.com >> 1 March 2015

1968 magazine article shows how control of gold is main mechanism of imperial power
By: Chris Powell, Secretary/Treasurer, GATA
While the London Gold Pool is no more, it has been replaced by the far more sophisticated U.S.-backed gold price suppression system of gold leasing by Western central banks and high-frequency trading by their bullion bank agents in the gold market. The U.S. national strategy, the defense of the dollar as the imperial currency controlling the world, remains unchanged.

news.goldseek.com >> 24 February 2015

Bank of England denies secret futures trading on CME Group exchanges in U.S.
By: Chris Powell, Secretary/Treasurer, GATA
Bank of England Governor Mark Carney today told the Treasury Committee of the House of Commons that the bank is not participating in CME Group's program by which central banks receive discounts for their secret trading in all major U.S. futures markets.

news.goldseek.com >> 22 February 2015

No wonder the Telegraph won't touch gold price suppression
By: Chris Powell, Secretary/Treasurer, GATA
If you're wondering why mainstream financial news organizations refuse to report the biggest financial news story in history -- the rigging of all major markets by Western central banks -- another reason has emerged in the last few days with the resignation of the chief political writer of the London Telegraph, Peter Oborne.

news.goldseek.com >> 13 February 2015

The U.S. government wouldn't rig markets this way anymore, would it?
By: Chris Powell, Secretary/Treasurer, GATA
Robert Wenzel of the Economic Policy Journal notes today that the Federal Reserve Bank of Cleveland has withdrawn its publicity for a 2011 study by the economists Michael D. Bordo, Owen F. Humpage, and Anna J. Schwartz that is critical of the U.S. government's increasingly frequent intervention in the currency markets from 1962 to 1973.

news.goldseek.com >> 11 February 2015

Doug Casey's omniscience vs. the many records of gold price suppression
By: Chris Powell, Secretary/Treasurer, GATA
Like Casey, GATA doesn't believe in "conspiracy theories" either. Casey is the only one talking about "theories" here. When documents and public admissions show governments and central banks meeting secretly to develop and implement a course of action toward gold, we believe in conspiracy fact, while the clients of Casey Research are left with nothing but Casey's omniscience.

In Canada too, clamor for the banks to get out of the governing business
By: Chris Powell, Secretary/Treasurer, GATA
What's left of Canada's Social Credit movement has brought a lawsuit challenging the operation of the country's monetary and banking systems, and apparently the powers that be are having a hard time getting the lawsuit dismissed.

news.goldseek.com >> 4 February 2015

Got Gold Report's Gene Arensberg dies
By: Chris Powell, Secretary/Treasurer, GATA
Our dear friend Gene Arensberg, publisher of the Got Gold Report died yesterday at Houston Methodist Hospital as a result of complications from lung transplant surgery undertaken in September. For years Arensberg was a major contributor to the cause of free and transparent markets in the monetary metals, an incisive observer, and, most important, a kind, helpful, and gentle soul whom one was always glad to see, and who will be terribly missed.

news.goldseek.com >> 29 January 2015

Saville says gold's flow doesn't matter; U.S. and China disagree
By: Chris Powell, Secretary/Treasurer, GATA
Who is buying gold and who is selling it mean nothing to the metal's price trend, nor does it matter where the metal is coming from, financial letter writer Steve Saville maintains this week in commentary headlined "Looking for (Gold Price) Clues in All the Wrong Places," posted at his Internet site, the Speculator Investor. That's not how the U.S. government sees it. To the contrary, the U.S. government considers gold's location to be of supreme importance to the country's standing.

news.goldseek.com >> 27 January 2015

Technical analysts have a right to be angry, but not at 'gold bugs'
By: Chris Powell, Secretary/Treasurer, GATA
In an essay headlined "Decoding the Gold COTs: Myth vs. Reality," market analyst Dan Norcini notes that futures markets have a huge influence on commodity prices and that market participants often place trades there first in anticipation of placing trades in the cash market. But Norcini disparages complaints by "gold bugs" that the gold futures market particularly is corrupt. But of course central banks and their agents, the huge investment banks -- entities that create or have access to essentially infinite money -- also recognize the influence of the futures markets and exploit it in pursuit of their objectives. Does Norcini really not understand this?

news.goldseek.com >> 26 January 2015

New York Fed's gold vaults' depositors and metal have been declining steadily
By: Chris Powell, Secretary/Treasurer, GATA
In the first of a series of articles about the gold vaults of the Federal Reserve Bank of New York, GATA consultant Ronan Manly reports that the bank's documents indicate a huge decline over recent decades in the number of central banks vaulting gold there as well as the amount of gold vaulted. Further, Manly finds, the bank has gotten much more secretive about its gold vaulting over the years.

news.goldseek.com >> 23 January 2015

Vancouver Conference Interview: If I were head of the FED I would jump out the window! - GATA
By: GoldSeek.com TV
Cambridge House presents an exclusive interview Bill Murphy and Ed Steer of the Gold Anti-Trust Action Committee. They discuss several topics with interviewer Vanessa Collette including:
- The Chinese and Russians Know What GATA Knows
- Repatriation News Out in the Open Are Signs of Smoke Becoming Fire
- A Panic for Gold is Coming

news.goldseek.com >> 20 January 2015

Jim Rickards: Gold price manipulation is now a global effort to appease China
By: Chris Powell, Secretary/Treasurer, GATA
In May 2006 the economist R. Peter W. Millar of Value-Trac Research in Scotland published a study, "The Relevance and Importance of Gold in the World Monetary System," arguing that central banks would need to revalue gold upward by from seven to 20 times "to raise the monetary value of the world monetary base and hence reduce the burden of debt" and avert a deflationary depression.

news.goldseek.com >> 19 January 2015

Does any country really know what its central bank is doing?
By: Chris Powell, Secretary/Treasurer, GATA
Is any nominally democratic country aware of the full range of market intervention being practiced by its own central bank? Do mainstream financial news organizations even inquire about it, much less report about it? This is essentially a totalitarian system, except that central banks are not yet shooting people for complaining, though no one in authority is complaining. Someone in authority should test them.

news.goldseek.com >> 16 January 2015

John Hathaway: Gold market has been rigged but trust in the riggers is declining
By: Chris Powell, Secretary/Treasurer, GATA
Gold market rigging by central banks and their investment bank agents is the main topic of the year-end investor letter by John Hathaway, portfolion manager for Tocqueville Asset Management. Hathaway writes: "We believe that a breakdown of trust in financial intermediaries -- including bullion banks, 'synthetic' gold substitutes such as ETFs, and derivatives, as well as the integrity of central-bank custodial relationships -- is behind the growing clamor to repatriate physical gold bars owned by sovereign states...

The end of central bank power? Or the start of more 'financial repression'?
By: Chris Powell, Secretary/Treasurer, GATA
Former Wall Street trader and market commentator Bruce Krasting, in analysis publicized by Zero Hedge, argues that the Swiss National Bank's repudiation today of its pledge to peg the Swiss franc to the euro forever will mark the beginning of the end of central bank power.

news.goldseek.com >> 13 January 2015

French central bank's chief market rigger says they never explain
By: Chris Powell, Secretary/Treasurer, GATA
Though the French central bank is, like other Western central banks, the agency of a nominally democratic government, its gold and currency market interventions will remain secret, the bank's director of market operations, Alexandre Gautier, wrote yesterday in a reply to our friend Fabrice Drouin Ristori, chief executive officer of Goldbroker.com.

news.goldseek.com >> 9 January 2015

Questions for the French central bank about its secret market interventions
By: Chris Powell, Secretary/Treasurer, GATA
Fabrice Drouin Ristori, CEO of Goldbroker.com, today publishes six questions he has sent to Alexandre Gautier, the director of market operations for the French central bank, the Banque de France, about the bank's secret interventions in the gold market particularly and possibly the commodity markets generally. Ristori's questions are exactly the sort of questions that would be posed by the mainstream financial news media if they had any real journalists and not mere toadies for government and big investment houses.

Of course Turkish gold reserves are overstated -- nearly everybody's are
By: Chris Powell, Secretary/Treasurer, GATA
Responding to gold researcher Koos Jansen's report yesterday about what is effectively the official remonetization of gold in Turkey, in which citizens' gold is deposited with commercial banks and then used by the banks to satisfy the reserve requirements of the Turkish central bank, moving temporarily to the central bank's books - the Perth Mint's Bron Suchecki notes today that this falsifies the central bank's gold position, which is in turn misleadingly reported by the World Gold Council.

news.goldseek.com >> 4 January 2015

Michael Ballanger's 2015 'trade of the year' cites rigging of stock and gold markets
By: Chris Powell, Secretary/Treasurer, GATA
Toronto broker and mining entrepreneur Michael Ballanger covers U.S. government rigging of the stock and gold markets in his latest market letter on what he thinks will be the "trade of the year" for 2015 -- a variant of which he also thought would be the "trade of the year" for 2014 but turned out to be only the trade of the first half of the year.

news.goldseek.com >> 1 January 2015

'Free-market' congressman misses point about secret futures trading by central banks
By: Chris Powell
Zero Hedge tonight reports correspondence between Florida resident James W. Lovely and his U.S. representative, Dennis A. Ross, prompted by Lovely's concern about surreptitious trading in U.S. futures markets by central banks, trading confirmed by the U.S. government records disclosed three months ago through Zero Hedge by the founder of the Winnetka, Illinois, market research firm Nanex, Eric Scott Hunsader.

news.goldseek.com >> 29 December 2014

Russia 24 network interviews GATA secretary and Paul Craig Roberts on market rigging
By: Chris Powell, Secretary/Treasurer, GATA
On its "Geo-Economics" program this month, Russia's biggest television network, Russia 24, interviewed your secretary/treasurer and former Assistant U.S. Treasury Secretary Paul Craig Roberts about gold and commodity market rigging by Western governments. The interview with your secretary/treasurer took place while he was in Munich, Germany, to address a meeting of the German Precious Metal Society and the Foundation for Liberty and Ratio.

news.goldseek.com >> 10 December 2014

Bron Suchecki: PBOC paper recommends leasing its reserves to manipulate gold price
By: Chris Powell, Secretary/Treasurer, GATA
The disagreement may be important for Suchecki's implicit reminder that it would be an exceedingly rare central bank that wanted free markets enough that it was willing to extend them to its own currency. Indeed, while gold advocates are inclined to root for China and Russia in the international currency war or competition because the governments of those countries seem to recognize gold's monetary function, China and Russia don't want free and transparent markets and limited and accountable government any more than Western governments do.

news.goldseek.com >> 9 December 2014

Chris Powell: Gold market manipulation -- Why, how, and how long?
By: Chris Powell, Secretary/Treasurer, GATA
Thank you for coming here tonight even though I can speak only English. I'm afraid that when it comes to German I don't know scheisse. Maybe I have an excuse. Mark Twain tried very hard to learn German and wrote afterward that German should be classified with the dead languages because only the dead had the time to learn it.

news.goldseek.com >> 8 December 2014

Bank of England's former deputy governor misleads about gold and credit creation
By: Chris Powell, Secretary/Treasurer, GATA
In an interview today with Russia Today's Sophie Shevardnadze, Sir Howard Davis, former deputy governor of the Bank of England and former director of the London School of Economics, makes the most elementary mistake in his objection to restoration of a gold standard for currencies. That is, Davis says a gold standard "would radically reduce the amount of credit and would cause a worldwide depression that would make the 1920s look like a holiday."

news.goldseek.com >> 3 December 2014

More documentation of secret futures market trading by central banks
By: Chris Powell, Secretary/Treasurer, GATA
The man who has blown the whistle on the secret and comprehensive U.S. futures market trading by central banks, Eric Scott Hunsader, founder of the market data company Nanex in Winnetka, Illinois, reports via Twitter today that CME Group, operator of the major U.S. futures exchanges, has extended by a year, to the end of 2015, the discount trading rates it offers to central banks...

Koos Jansen: Eurosystem increases its allocated official gold reserves
By: Chris Powell, Secretary/Treasurer, GATA
Many European central banks have begun issuing public reports distinguishing their gold in the vault from "unallocated" gold or gold receivables and they now claim very little unallocated gold, Bullion Star market analyst and GATA consultant Koos Jansen reports today. Jansen adds that the distinguishing has been done only for this year and that such data has not been made available for previous years.

news.goldseek.com >> 24 November 2014

Senate report shows how easily banks can rig gold, copper, and other markets
By: Chris Powell, GATA
The heavy involvement of investment banks in commodity trading creates the potential for market manipulation and conflicts of interest in the gold market, and exchange-traded gold funds may be mechanisms of market manipulation contrary to the basics of supply and demand, according to the 396-page report published last week by the Permanent Subcommittee on Investigations of the U.S. Senate's Committee on Homeland Security and Governmental Affairs.

news.goldseek.com >> 17 November 2014

Four key observations from the Deutsche Bank report on the Swiss Gold Initiative
By: Chris Powell, Secretary/Treasurer, GATA
Any gold purchases made by the Swiss National Bank pursuant to approval of the initiative in the referendum on November 30 are unlikely to have much impact on the gold market because the purchases would be small and made over time and because they likely would be accomplished outside the gold market and through central banks, which are always trading gold among themselves. (Secretly, of course, to facilitate their market interventions.)

news.goldseek.com >> 13 November 2014

Central banks managing -- that is, rigging -- gold 'more actively,' LBMA is told
By: Chris Powell, Secretary/Treasurer, GATA
Bullion Vault research director Adrian Ash this week called attention to what may be the most relevant remark coming out of the London Bullion Market Association's conference in Lima, Peru. It's the assertion by the market operations director of the Banque de France, Alexandre Gautier, that central banks now are managing their gold reserves "more actively," a remark conveyed to Ash by a colleague attending the conference.

news.goldseek.com >> 12 November 2014

Today's market-rigging disclosures only hint at far greater offenses
By: Chris Powell, Secretary/Treasurer, GATA
This is an enormous story with consequences for everyone on the planet, signifying the destruction of democracy, markets, and human progress everywhere, as well as the vicious exploitation of the developing world and the transfer of its wealth to the developed world. But except for the story's political sensitivity, why can't it be reported by respectable financial news organizations?

news.goldseek.com >> 10 November 2014

Judge upholds Liberty Dollar founder's conviction and schedules sentencing
By: Chris Powell, Secretary/Treasurer, GATA
Since the Liberty Dollar case seems to have involved a political challenge to federal currency law more than a serious counterfeiting scheme, and since the U.S. government already has seized all of Liberty Dollar's assets, it may be hard to see the need to imprison von NotHaus. If his counsel thinks there is merit in making such an argument to the judge prior to sentencing, GATA will let you know.

Why doesn't the World Gold Council care about Switzerland anymore?
By: Ronan Manly
GATA's dispatch of a Bloomberg News story November 5, "World Gold Council Has Nothing to Say about Swiss Gold Referendum" reminded me that there was a time when the council would publish detailed analysis on topics relevant to Switzerland's gold reserves. This time covered at least from May 1997 to May 2000, prior to Switzerland's infamous gold sales. These World Gold Council publications were frequent and often questioned the motives and purposes of the Swiss National Bank and Switzerland's federal government, while taking an independent stance representing the global gold industry.

news.goldseek.com >> 3 November 2014

What kind of financial journalism doesn't care and doesn't ask questions?
By: Chris Powell, Secretary/Treasurer, GATA
With his sneering at GATA today, commodity letter writer Dennis Gartman inadvertently signifies what's wrong about Western financial journalism -- its fear of committing journalism. Gartman writes: "The 'gold bugs' shall apparently never give up. They are as convinced now that the gold market is rigged as they were in years past. They are confident that they are right in their belief that the central banks are selling gold at every opportunity and that if only this 'manipulation' is brought to everyone's collective attention and exposed, then gold shall rally and rally and rally some more.

news.goldseek.com >> 2 November 2014

Correspondence: Is all this market rigging real? Is GATA real?
By: Chris Powell, Secretary/Treasurer, GATA
Dear GATA: I have to ask you something, as you may be among the few people I can trust. (At least I think you are people and not an Internet-derived scam.) Am I imagining everything that's happening or have I just been brainwashed into believing it? Are the things that people like Andrew Maguire, Eric Sprott, and Egon von Greyerz say really true and factual or just hearsay and nonsense?

news.goldseek.com >> 31 October 2014

I know this much is true
By: Chris Powell, Secretary/Treasurer, GATA
1) That for the time being central banks and the governments they control remain in charge of the gold price and most prices through the rigging mechanisms of gold reserve leasing and swapping and the futures markets, where they are able to deploy infinite money in secret.
2) That as the world's economy continues to weaken, with wealth being transferred from the masses to the elites, central banks and the governments they control will resort to still more totalitarian methods to maintain their control.

news.goldseek.com >> 27 October 2014

Swiss gold initiative advocates professionalize their campaign and need your help
By: Chris Powell, GATA
Essentially the referendum proposal is a democratic revolt against unaccountable central banking and currency market rigging.

The first national opinion poll on the referendum proposal found it leading by 45 to 39 percent.

Gold price suppression documents cited in debate at New Orleans conference
By: Chris Powell
Documents that were included in a PowerPoint presentation by your secretary/treasurer during his debate with Doug Casey of Casey Research on Thursday, October 23, at the New Orleans Investment Conference -- a debate whose proposition was "Gold Manpulation: Real or Imagined?," with your secretary/treasurer arguing that it is real -- are cited below, though, because of lack of time, not all of them were reviewed during the debate.

Greenspan says he's not aware of gold price suppression through central bank leasing
By: Chris Powell
The opportunity to question former Federal Reserve Chairman Alan Greenspan about central bank intervention in the gold market was spectacularly fumbled today during Greenspan's appearance at the New Orleans Investment Conference.

news.goldseek.com >> 23 October 2014

Chris Powell: The crucial questions financial journalism won't ask and central banks won't answer
By: Chris Powell, Secretary/Treasurer, GATA
The last two months have brought confirmation that, as we long have suspected, GATA has outlined only a small part of the surreptitious market manipulation being undertaken by central banks -- that this manipulation is actually comprehensive, that it covers nearly every major market in the world. This confirmation is largely the work of Eric Scott Hunsader, founder of the market data and research company Nanex in Winnetka, Illinois, who publicized, through the Zero Hedge Internet site, documents recently filed with the U.S. government, two of them with the Commodity Futures Trading Commission and one with the Securities and Exchange Commission.

news.goldseek.com >> 28 September 2014

Conspiracy fact: The European Central Bank Gold Agreement is renewed
By: Chris Powell, Secretary/Treasurer, GATA
Bullion Vault research director Adrian Ash notes that the fourth European Central Bank Gold Agreement takes effect today, extends for five years, and removes any limits on gold sales by the 21 signatories while acknowledging that "they do not have any plans to sell significant amounts of gold," because the limits contained in predecessor agreements had come to look silly, such sales having ended long ago.

Central banks don't need Barrick much if they secretly spend and repurchase their gold
By: Chris Powell, Secretary/Treasurer, GATA
The central banks suppressing the gold price drained their official reserves for price suppression before, so why wouldn't they do it again? After all, if the central banks want to recover their reserves, they can always create infinite money with which to repurchase the gold and start the price suppression scheme all over again at a higher level.

news.goldseek.com >> 21 September 2014

Is World Gold Council's CEO angling for a tin-foil hat?
By: Chris Powell, Secretary/Treasurer, GATA
"The growth of the Shanghai Gold Exchange to become the world's largest physical gold exchange provides compelling evidence that the future for gold is physical," Shishmanian said. "As the market shifts from west to east, the expansion of strong gold trading hubs in Asia will improve price discovery, liquidity, transparency, and efficiency, all of which will transform the landscape of the global gold market."

news.goldseek.com >> 17 September 2014

The bad guys WILL be beaten -- probably by themselves
By: Chris Powell, Secretary/Treasurer, GATA
The bad guys will be beaten, despite our not knowing at the moment exactly how or by whom, if only because the great lesson of history is that the bad guys always go too far and beat themselves. As for gold price suppression and surreptitious market rigging particularly, your secretary/treasurer suspects that circumstances are most likely to change overnight, as they did on March 14, 1968, when the London Gold Pool collapsed, having run out of gold for delivery...

news.goldseek.com >> 10 September 2014

Dimitri Speck: Platinum's price is suppressed like gold's and silver's
By: Chris Powell, Secretary/Treasurer, GATA
Analysis by market analyst and GATA consultant Dimitri Speck shows that the platinum market is manipulated just as the gold and silver markets are, largely through futures contract sales keyed to the morning and afternoon platinum price fixings.

news.goldseek.com >> 7 September 2014

Another smoking gun of market rigging, but Warburton saw it all back in 2001
By: Chris Powell, Secretary/Treasurer, GATA
Tonight Zero Hedge discloses another smoking gun -- another filing by CME Group, this one with the U.S. Securities and Exchange Commission, CME Group's "10K" statement for 2014. On Page 9 of the statement CME Group says: "Our customer base includes professional traders, financial institutions, institutional and individual investors, major corporations, manufacturers, producers, governments, and central banks."

news.goldseek.com >> 3 September 2014

Gold price suppression needs no whistleblowers; it's in the open because nobody notices
By: Chris Powell, Secretary/Treasurer, GATA
Over the long Labor Day holiday weekend in the United States your secretary/treasurer sent the following e-mail to many financial journalists and mining company executives in the hope of calling their attention to the latest smoking-gun proof of central bank intervention against the gold market and other markets.

news.goldseek.com >> 1 September 2014

Here's why the gold and silver miners don't complain about price suppression
By: Chris Powell, Secretary/Treasurer, GATA
First, many gold and silver mining executives are simply uninformed. They tend to be technical people with a background in geology rather than financial people with a background in markets. As a result most have little idea of the monetary nature of their products, little idea of the competition those products present to government-issued money, and no idea at all about how the price of their products is suppressed by the creation of vast imaginary supplies in the futures markets to prevent competition with government money.

Central banks get discounts for trading EVERYTHING through CME Group and Comex
By: Chris Powell, Secretary/Treasurer, GATA
Those who expect the stock market bubble to pop may want to reconsider as long as central banks are prepared and equipped to buy everything. This dispatch will be sent separately to representatives of most major Western financial news organizations. Will even one of them decide that comprehensive surreptitious market intervention by central banks is news?

news.goldseek.com >> 28 August 2014

Natural law and economic law are with gold, but laws no longer apply
By: Chris Powell, Secretary/Treasurer, GATA
Examining the astounding and continuing downward trend of interest rates that has brought some rates into negative territory, the TF Metals Report's Turd Ferguson postulates today that gold and silver prices won't be going any lower, regardless of the charting done by technical analysts. Ferguson's commentary is headlined "ZIRP Morphs to NIRP" and it's posted at the TF Metals Report here...

news.goldseek.com >> 27 August 2014

State Department agrees to try looking for gold records again
By: Chris Powell, Secretary/Treasurer, GATA
Three years ago GATA more or less won its freedom-of-information lawsuit in U.S. District Court for the District of Columbia against the Board of Governors of the Federal Reserve System, in which GATA sought access to the Fed's records involving gold swaps. While the court found that most of the Fed's records involving gold swaps were exempt from disclosure under the law, GATA's initial inquiry to the Fed produced an admission that the Fed indeed has secret gold swap arrangements with foreign banks...

news.goldseek.com >> 26 August 2014

GATA secretary to speak at London's Mines and Money conference in December
By: Chris Powell, Secretary/Treasurer, GATA
Your secretary/treasurer will speak at the Mines and Money conference in London in December and will try to convey the essence of the Western central bank gold price suppression scheme to the many mining and investment company executives attending without putting them in a position where they might have to acknowledge having listened.

news.goldseek.com >> 22 August 2014

New Orleans conference will debate gold market manipulation
By: Chris Powell, Secretary/Treasurer, GATA
As always unafraid of controversy, the New Orleans Investment Conference in October will feature a debate on the question of whether central banks manipulate the gold market, with your secretary/treasurer arguing in the affirmative and Casey Research founder Doug Casey arguing in the negative. The debate will be moderated by money manager, financial commentator, and fellow New Orleans Investment Conference speaker Adrian Day.

news.goldseek.com >> 17 August 2014

Could mobile phone recycling extend gold price suppression for years?
By: Chris Powell, Secretary/Treasurer, GATA
This week the BBC reported some details on a subject of which most gold investors may be generally aware: that mobile telephones typically contain a small amount of gold. Speculating on the prospects for recycling that gold, the BBC concluded that it probably would not accomplish much.

news.goldseek.com >> 14 August 2014

On CNBC Asia, GATA secretary cites growing documentation of gold price suppression
By: Chris Powell, Secretary/Treasurer, GATA
Your secretary/treasurer was interviewed via satellite by CNBC Asia's Bernie Lo for about seven minutes this morning Hong Kong time and the better four of them have made it to the CNBC archive, wherein we discuss the growing documentation of gold price suppression by central banks, the refusal of mainstream financial news organizations (cited by name) to touch the issue, and the likelihood that "financial repression" by central banks will intensify if interest rates are allowed to rise.

news.goldseek.com >> 8 August 2014

Dennis Gartman: Gold vs. The Force
By: Chris Powell, Secretary/Treasurer, GATA
Doug Casey of Casey Research refuses to see gold market manipulation because it contradicts his ideology that markets are always bigger than governments. (If only they were, since then no government on the planet would remain in its current configuration and totalitarianism would be impossible.) The job of CPM Group's Jeff "Pay No Attention to That Man Behind the Curtain" Christian depends on his denying gold market manipulation, since the market manipulators are his own clients, central banks.

news.goldseek.com >> 6 August 2014

Another FT reader got nowhere asking why the gold manipulation story was deleted
By: Chris Powell, Secretary/Treasurer, GATA
Our friend and consultant R.M. in the United Kingdom, noting GATA's exchange today with the Financial Times - relates an experience similar to that of our friend R.B. in the U.K., an FT subscriber who for five months prodded the newspaper for an explanation of the newspaper's quick deletion from its Internet site of its February 24 report about concerns about gold market manipulation. While R.B. eventually got an explanation from the newspaper's customer service office -- that the report was deleted from the FT's Internet site because it was "sensitive" -- that explanation was repudiated today by another newspaper official, who said the FT's customer service office had been "misinformed."

news.goldseek.com >> 5 August 2014

Financial Times repudiates explanation for removal of gold manipulation report
By: Chris Powell, Secretary/Treasurer, GATA
The newspaper's repudiation of its customer service office's explanation asserted only that the customer service office had been "misinformed." The repudiation did not explain why the story was removed from the FT's Internet site, asserting only the obvious -- that the removal was "an editorial decision." In correspondence with the FT today your secretary/treasurer has reiterated GATA's eagerness to assist the newspaper with any inquiry into gold market intervention by Western central banks, which GATA has been documenting for 15 years.

news.goldseek.com >> 29 July 2014

Technical analysis of markets begins to suspect its obsolescence
By: Chris Powell, Secretary/Treasurer, GATA
Acknowledging that the usefulness of technical analysis is increasingly doubted as market manipulation intensifies, newsletter writer and technical analyst Tim W. Wood notes today that manipulation is as old as markets themselves and quotes various authorities to the effect that manipulation cannot long defeat any market's "primary trend."

news.goldseek.com >> 28 July 2014

Financial Times deleted gold manipulation story because it was too 'sensitive'
By: Chris Powell, Secretary/Treasurer, GATA
With great persistence and a little encouragement from GATA our friend R.B. in Britain has more or less solved the mystery of the Financial Times' quick deletion from its Internet site of its February 24 report about gold market manipulation, "Fears Over Gold Price Rigging Put Investors on Alert; German and UK Regulators Investigate."

news.goldseek.com >> 16 July 2014

The more obvious they are, the closer the day of deliverance
By: Chris Powell, Secretary/Treasurer, GATA
At least today's smashing does not seem to have been a matter of panicking by ordinary gold investors all at once any more than was the biggest gold futures smashing in history, that of April 12 and 15, 2013. Rather today was another anomaly, an ambush -- and dispiriting as it was to gold investors, like the other ambushes it may convey important information. First, it may signify that powerful forces are determined to suppress the price of gold while central banks are striving to devalue their currencies and their countries' unpayable debts -- striving to bolt shut the exits from a financial system that would be destroyed by the restoration of free markets.

news.goldseek.com >> 6 July 2014

No more market crashes -- and no more markets either
By: Chris Powell, Secretary/Treasurer, GATA
That's why the increasing divergences in traditional economic relationships may foretell only more central bank interventions and why the outcome may not be market crashes at all but rather more of what has already happened: the destruction of markets and, with that, the destruction of democracy and the end of the progress that markets and democracy have accomplished for civilization.

news.goldseek.com >> 2 July 2014

Grant Williams' video outlines the new 'Goldfinger' plot
By: Chris Powell, Secretary/Treasurer, GATA
Ian Fleming's James Bond novel "Goldfinger," about a plot to eliminate the U.S. gold reserve, soon may have to be reclassified as non-fiction, Singapore fund manager Grant Williams argues in a fascinating 23-minute video outlining the massive transfer of gold from West to East amid an environment of price suppression by the West's fractional-reserve gold banking system. Williams' video fully adopts GATA's view of the gold issue and quotes gold researcher and GATA consultant Koos Jansen.

India might solve its gold 'problem' by remonetizing the metal
By: Chris Powell, Secretary/Treasurer, GATA
MineWeb's Shivom Seth
reports from Mumbai that India's government may be starting to figure out a solution to what it supposes to be the country's gold problem -- that is, to recognize gold as money again. The idea, so far, would be to allow gold held by banks to count toward cash and liquidity reserve requirements.

news.goldseek.com >> 1 July 2014

Gold market manipulation injected uncomfortably into BNN interview
By: Chris Powell, Secretary/Treasurer, GATA
A market analyst for ScotiaMcLeod in Toronto, Jaime Carrasco, injected gold market manipulation into his interview on the "Market Call Tonight" program Friday on Business News Network in Canada. "I think everybody now talks about gold particularly as being manipulated," Carrasco told BNN anchor Michael Hainsworth, who was uncomfortable with the subject but couldn't get Carrasco to stop talking about it. Carrasco explained his enthusiasm for gold as a matter of the vast oversubscription of the gold supply through paper claims at a ratio approaching 100 to 1 and the steady flow of Western gold to China through Switzerland.

news.goldseek.com >> 30 June 2014

Bank of England gets pretty intimate with the London Bullion Market Association
By: Chris Powell, Secretary/Treasurer, GATA
GATA's friend and consultant R.M. calls attention to some documents demonstrating that the Bank of England's involvement with the gold market may be even more intimate than generally understood. In a presentation to the London Bullion Market Association's Fifth Annual Assaying and Refining Seminar, held in March 2013, a Bank of England customer relationship manager, Luke Thorn, disclosed that the bank participates on three LBMA committees.

news.goldseek.com >> 29 June 2014

Central banks and gold: New Orleans conference may disclose a lot
By: Chris Powell, Secretary/Treasurer, GATA
Something unprecedented is scheduled to happen at the New Orleans Investment Conference in October: a former central banker -- the most famous in the world, Alan Greenspan -- has agreed not just to speak but to take questions from the audience about gold. Of course there's no guarantee that Greenspan's answers will be truthful and candid. But even his evasions or refusals to answer candidly may disclose a lot.

news.goldseek.com >> 27 June 2014

'When' is the big question, and GATA knows only 'why' and 'how'
By: Chris Powell, Secretary/Treasurer, GATA
GATA can compile and publicize the documentation and other evidence of gold price suppression, explain its purposes, and explain why people should care, but GATA cannot make people care. Gold price suppression may end for any of the reasons cited above, or for other reasons, but it will end when enough people care about it. To determine how long that will take, you'll have to ask the people who don't care, not GATA. GATA can only plod on in the hope that if we're right and doing the right thing, the world will come round, if only in God's time, not ours.

news.goldseek.com >> 25 June 2014

Koos Jansen: Shanghai exchange chief confirms WGC badly underestimates gold demand
By: Chris Powell, Secretary/Treasurer, GATA
Gold researcher and GATA consultant Koos Jansen today reports confirmation from the chairman of the Shanghai Gold Exchange that offtake from the exchange exceeded 2,000 tonnes in 2013, nearly doubling the estimate of Chinese gold demand made by the World Gold Council. Jansen also reports the assertion by the chief of the precious metals department of Industrial and Commercial Bank of China, the world's largest bank, that pricing for gold will shift from the derivatives market to the physical market.

news.goldseek.com >> 18 June 2014

Even more gold came out of Bank of England's vault in 2013
By: Chris Powell, Secretary/Treasurer, GATA
Thanks to exchange rate calculations provided by market analyst Bron Suchecki of the Perth Mint - gold researcher and GATA consultant Koos Jansen has revised substantially upward his estimate, published yesterday, of the net amount of gold that came out of the Bank of England's gold vault for the year ending in February. They agree that the Bank of England's custodial gold total fell by 755 tonnes.

news.goldseek.com >> 17 June 2014

Koos Jansen: Bank of England's gold vault is nearly 500 tonnes lighter than last year
By: Chris Powell, Secretary/Treasurer, GATA
Custodial gold held by the Bank of England fell by nearly 500 tonnes over the year ending in February, gold researcher and GATA consultant Koos Jansen reports today upon examining the bank's new annual report. During the same period, Jansen writes, the United Kingdom reports having a net gold export balance of nearly 1,600 tonnes.

news.goldseek.com >> 13 June 2014

If it ever asked the right question, the FT would make itself a contrarian indicator
By: Chris Powell, Secretary/Treasurer, GATA
In an interview today with King World News, Hinde Capital CEO Ben Davies cites as a likely contrarian indicator a story published this week on the front page of the Financial Times noting the collapse of market volatility. The FT story, whose first two paragraphs are appended, said the decline of market volatility is a matter of suppression of interest rates by central banks and acknowledged that this is a consequence of their "intervention."

news.goldseek.com >> 4 June 2014

GoldSeek.com TV Interviews Ed Steer: Gold Price Fixing is a FACT
By: GoldSeek.com TV
- Gold Price Fixing is a FACT

- The Secretive Gold Market

- Manipulation of the Gold Price is so Obvious

news.goldseek.com >> 28 May 2014

Austrian central bank says gold audit is routine -- and secret
By: Chris Powell, Gold Anti-Trust Action Committee Inc.
The Austrian Central Bank has conducted regular audits of its gold reserves in the past as well. Our latest audit is part of this routine. We do not intend to publish details of that audit.

Hulbert thinks lousy sentiment, charts drag gold down, not central banks
By: Chris Powell, Gold Anti-Trust Action Committee Inc.
In a time of comprehensive market interventions by central banks, technical analysis is no more useful than reading entrails or tea leaves. But there would be plenty of room for technical analysts in another occupation: financial journalism. They would need only to put a few specific questions to central banks about their involvement in the gold and interest rate markets and they would have financial journalism all to themselves.

news.goldseek.com >> 26 May 2014

Barclays case doesn't prove gold is always manipulated; that proof is elsewhere
By: Chris Powell, Gold Anti-Trust Action Committee Inc.
Yes, as Norcini argues, not every move in gold may be entirely the consequence of central bank intervention. But as long as central banks are so heavily involved in the gold market, it will require blindness not to suspect them in any major move.

news.goldseek.com >> 23 May 2014

Notes on the Barclays gold manipulation case: Enough money can rig ANY market
By: Chris Powell, Gold Anti-Trust Action Committee Inc.
As market rigging by the government is fully contemplated by law, the only thing to be done about it is to expose it. The British Financial Conduct Authority's action against Barclays for manipulating the gold market is welcome mainly for establishing that gold market manipulation is not mere "conspiracy theory" and for potentially making it a little harder for governments to rig the gold market surreptitiously with the cover of intermediaries.

Gold market rigging is ever more documented -- and ever more suppressed by the news media
By: Chris Powell, Gold Anti-Trust Action Committee Inc.
Since 1999 we have been collecting and publicizing evidence and documentation of the longstanding Western central bank scheme of surreptitiously suppressing the price of gold as part of a broader scheme of controlling the currency, bond, and equity markets.

The documentation is overwhelming and includes admissions by central bankers and records in government archives. Some of this material is quite current. We have posted it all at our Internet site, GATA.org

news.goldseek.com >> 20 May 2014

German TV network broadcasts long program on gold market manipulation
By: Chris Powell, Secretary/Treasurer, GATA
Gold researcher and GATA consultant Koos Jansen today calls attention to a long broadcast about gold market manipulation made this month on the German-language television network 3sat, which serves Germany, Austria, and Switzerland. The broadcast came on the 3sat program "Makro" and focused on recent complaints about the daily London gold fixings. It quoted market analyst and GATA consultant Dimitri Speck and Hong Kong fund manager William Kaye, who is frequently interviewed by King World News about gold market manipulation. The program does not seem to have gotten much into central bank involvement in the market manipulation, but questions are raised about Germany's gold reserves vaulted abroad, so this may have been a good start.

news.goldseek.com >> 19 May 2014

Only mainstream financial journalism thinks central banks are out of the gold market
By: Chris Powell, Secretary/Treasurer, GATA
Today's statement by the European Central Bank added that the signatories to the new gold agreement "do not have any plans to sell significant amounts of gold." Taking this assertion seriously requires believing that the signatories indeed still have "significant amounts of gold." As was disclosed by the secret March 1999 report of the staff of the International Monetary Fund, preventing an authoritative answer to this question is the foremost objective of Western central bank accounting...

news.goldseek.com >> 15 May 2014

What has the Swiss National Bank been doing with the country's gold reserves?
By: Chris Powell, Secretary/Treasurer, GATA
Prompted by the research done this week by Turd Ferguson of the TF Metals Report showing that Switzerland's gold reserves probably were mobilized surreptitously for the smashing of the gold price in the last few years... your secretary/treasurer today wrote by e-mail to the communications office of the Swiss National Bank (communications@snb.ch) to pose six questions about that country's gold reserves and the central bank's involvement in the gold market.

news.goldseek.com >> 6 May 2014

Many news organizations know all about gold price rigging, including the NY Times
By: Chris Powell, Secretary/Treasurer, GATA
Whenever any mainstream news organization publishes or broadcasts something touching on the Western central bank gold price suppression scheme or GATA, your secretary/treasurer contacts the organization to provide the full documentation that would be necessary to an attempt at actual journalism. Today's appeal to The New York Times is appended. At least it drew a prompt and cordial acknowledgment.

news.goldseek.com >> 30 April 2014

The Infinite Monkey Theorem confronts infinite gold and silver market manipulation
By: Chris Powell, Secretary/Treasurer, GATA
GATA frequently writes to about two dozen journalists at mainstream financial news organizations about matters indicating manipulation of the monetary metals markets, alerting them to all new documentation and evidence we've discovered, so that none of those organizations can claim not to have known what was going on, only to have ignored it.

news.goldseek.com >> 25 April 2014

Will regulators and journalists ever dare to look behind the London gold fix banks?
By: Chris Powell, Secretary/Treasurer, GATA
Britain's Financial Conduct Authority has begun observing the London gold fixing process, Bloomberg News reports today in a story appended here, and Bloomberg even acknowledges, if only in the briefest way, that the London gold fix price is "used" by central banks. Unfortunately Bloomberg does not yet seem to have inquired into just how and why central banks use the London fix.

news.goldseek.com >> 20 April 2014

LBMA defense of London gold fixing distracts from central bank involvement
By: Chris Powell, Secretary/Treasurer, GATA
The March edition of the London Bullion Market Association's magazine, The Alchemist -- presumably named for the ability of LBMA members to turn gold into paper -- carries a long defense of the daily London gold price fixings against complaints that they are likely manipulated by their participating bullion banks.

news.goldseek.com >> 14 April 2014

New York Fed contradicts its former vice president about gold accounts
By: Chris Powell, Secretary/Treasurer, GATA
The Federal Reserve Bank of New York has contradicted the assertion of its former vice president that it has provided gold accounts to bullion banks. The assertion of such accounts was made by H. David Willey, the former New York Fed vice president in charge of foreign central bank accounts and the gold vault at the New York Fed, in a speech given in May 2004 to the American Institute for Economic Reserve in Great Barrington, Massachusetts.

news.goldseek.com >> 1 April 2014

World Gold Council plans another seminar for people who don't think about gold
By: Chris Powell, Secretary/Treasurer, GATA
Unfortunately the World Gold Council's program at UC Berkeley again will be open only to people who "spend no time whatsoever thinking about gold" -- open only to "central bankers and finance ministry officials," not to the public and not even to gold mining company executives. A respected market analyst cordial to GATA applied to attend last year's program but was rejected.

news.goldseek.com >> 30 March 2014

Gold bugs and fiat currency advocates each have their own economic myths
By: Chris Powell, Secretary/Treasurer, GATA
Fiat currency advocates aren't the only ones who perpetuate myths about economics, like the desirability of central banking. Central banking works great in theory but in practice central banking is the power to create infinite money, which is absolute power, and of course it is never exercised by an impartial machine following infallible formulas; rather is it exercised by fallible people who are corrupted absolutely by absolute power.

news.goldseek.com >> 26 March 2014

Gold market manipulation update, March 2014
By: Chris Powell, Secretary/Treasurer, GATA
For 15 years the Gold Anti-Trust Action Committee has been documenting and publicizing the largely surreptitious manipulation of the gold market by Western central banks, a longstanding policy of gold price suppression aimed at controlling the currency markets and interest rates. While GATA is a research, educational, and civil rights organization, those who object to examination of our topic call us a "conspiracy theory" organization.

news.goldseek.com >> 12 March 2014

Like New York Fed, State refuses comment on transfer of Ukrainian gold
By: Chris Powell, Secretary/Treasurer, GATA
After two days of hectoring the U.S. State Department by telephone and e-mail, and doing so as a newspaper editor, your secretary/treasurer today recruited his U.S. representative's office to try to extract from State an answer to the question of whether the U.S. government has taken custody of Ukraine's gold reserves, as suggested by news reports...

news.goldseek.com >> 11 March 2014

New York Fed on Ukrainian gold reserves: Don't ask us
By: Chris Powell, Secretary/Treasurer, GATA
A spokesman for the New York Fed said simply: "Any inquiry regarding gold accounts should be directed to the account holder. You may want to contact the National Bank of Ukraine to discuss this report." GATA's similar inquiry of last night to the U.S. State Department has not yet prompted any reply. Last night GATA called this issue to the attention of about 30 mainstream financial journalists and newsletter writers in the admittedly bizarre hope that they might pose the question as well.

Russian-Ukrainian news site describes transfer of Ukrainian gold to U.S.
By: Chris Powell, Secretary/Treasurer, GATA
GATA tonight asked the Federal Reserve Bank of New York and the U.S. State Department to disclose whether the United States has taken custody of Ukraine's gold reserves. A publicist for the New York Fed immediately acknowledged the inquiry and said he would look into the issue right away. We'll keep you posted.

news.goldseek.com >> 7 March 2014

Koos Jansen: China's road to secret gold accumulation
By: Chris Powell, Secretary/Treasurer, GATA
Gold researcher and GATA consultant Koos Jansen today publishes an English translation of another remarkable commentary by a Chinese market analyst, newsletter editor, and consultant to the China Gold Association, Zhang Jie.

news.goldseek.com >> 28 February 2014

Ross Norman: Is the London fix fixed?
By: Chris Powell, Secretary/Treasurer, GATA
How does the London gold fix, a private gathering of competitors in the market, get around Britain's Competition Act, the equivalent of antitrust law in the United States, which prohibits collusion among competitors? Certainly the London gold fix is unique; there is no similar mechanism for oil, soybeans, pork bellies, and other major items of trade. So why couldn't gold pricing be left to ordinary markets just as pricing of those other items is?

news.goldseek.com >> 26 February 2014

FT story on gold price rigging was erased deliberately
By: Chris Powell, Secretary/Treasurer, GATA
The Financial Times' Monday report about a study concluding that the daily London gold price fixing is manipulated probably half the time was deliberately removed from the newspaper's Internet site by the newspaper's editorial staff and did not vanish because of any programming glitch.

news.goldseek.com >> 24 February 2014

Is Lassonde really so ignorant of his own organization's work?
By: Chris Powell, Secretary/Treasurer, GATA
For if central bankers really don't bother with gold at all, R.M. wonders, why does the World Gold Council spend so much time talking to them about it? And how can a World Gold Council board member be so ignorant of his organization's work? Or is Lassonde really not ignorant at all but working hard at disinformation for people who are not central bankers?

Lassonde spouts disinformation and Kitco's Cambone just smiles prettily through it
By: Chris Powell, Secretary/Treasurer, GATA
Lassonde thereby contradicts what he told Cambone just seconds earlier about all the effort the German Bundesbank lately has spent lately fending off complaints that there's something fishy about the slow pace of repatriation of the German gold purportedly vaulted at the Federal Reserve Bank of New York.

news.goldseek.com >> 21 February 2014

Why didn't Handelsblatt ask the Bundesbank the right questions about gold?
By: Chris Powell, Secretary/Treasurer, GATA
Germany's Bundesbank has posted an English translation of an interview published Wednesday by the German business newspaper Handelsblatt with Bundesbank Executive Board member Carl-Ludwig Thiele, an interview that unfortunately concentrates on the logistics of repatriating some of Germany's gold from the Federal Reserve Bank of New York rather than on what might have been done with that gold: