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Over lunch with the FT, more ignorant snickering about gold

By: Chris Powell, Secretary/Treasurer, GATA

-- Posted Tuesday, 24 August 2010 | Digg This ArticleDigg It! | | Source:

Dear Friend of GATA and Gold:

A "Lunch with the FT" interview with "When Money Dies" author Adam Fergusson, published Friday in the Financial Times and written by Jonathan Ford, was interesting enough but couldn't help concluding with the caricature used to smear anyone interested in gold -- the survivalist loony seeking to be vindicated by the collapse of civilization.

Ford writes: "As we finish our main courses and order coffee, I mention that I have been talking to some of the gold bugs who venerate Fergusson's book. They do not share his horror of inflation. Rather, they long for a new Weimar, in which paper currencies collapse, leaving gold as the only trusted store of value. This is a world in which we are all forever descending into our cellars, with a shotgun and a mountain of tinned food for company."

Actually, many people with an interest in gold -- people with whom Ford plainly has not talked -- have a quite different vision of the future, one in which the currency, gold, commodity, stock, and bond markets trade freely without surreptitious government intervention, where labor is rewarded more than it is taxed or cheated by inflation, where government is open and transparent, and where journalism fearlessly holds to account both the government and the money power behind the government. Fifteen months ago in London GATA tried to explain this vision to an FT reporter in person, and again many times since in e-mail, starting with documentation of the Western central banking system's gold price suppression scheme, without evoking the slightest interest from the newspaper.

A month ago that scheme exploded practically in the FT's smug face when a newsletter writer caught the Bank for International Settlements undertaking without any announcement the biggest gold swap in history, leaving the FT to quote anonymous sources insisting that it was no big deal, allowing the newspaper to drop the story quickly, apparently never to return to it. (See But the gold price suppression scheme -- essentially a scheme by a very few powerful people to set, arbitrarily and secretly, the value of all labor, goods, and services in the world -- remains a big story, the biggest financial story of all time.

GATA would be glad to discuss that story over "Lunch with the FT." We'll bring the sardines and hardtack from our stash in the cellar. Until then Fergusson might consider writing a sequel to his book about the Weimar hyperinflation. He could call this one "When Journalism Dies."

The FT's account of its lunch with Fergusson is appended.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Lunch with the FT: Adam Fergusson

By Jonathan Ford
Financial Times, London
Friday, August 20, 2010

* * *

Join GATA here:

Toronto Resource Investment Conference
Saturday-Sunday, September 25-26, 2010
Metro Toronto Convention Center, Toronto, Ontario, Canada

The Silver Summit
Thursday-Friday, October 21-22, 2010
Davenport Hotel, Spokane, Washington

New Orleans Investment Conference
Wednesday-Saturday, October 27-30, 2010
Hilton New Orleans Riverside Hotel

* * *

Support GATA by purchasing a colorful GATA T-shirt:

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:

* * *

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

To contribute to GATA, please visit:

-- Posted Tuesday, 24 August 2010 | Digg This Article | Source:


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