-- Posted Wednesday, 29 February 2012 | | Disqus
Dear Friend of GATA and Gold:
Gold fund manager Jean-Marie Eveillard has just told King World News that he suspects that today's pounding of the gold price was a matter of central bank intervention:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/2/29_Ev...
Eveillard, who manages $50 billion in assets, is among the few respectables in the gold world, and his stunning acknowledgment today is the price the Western central banks must begin paying for their increasingly brazen market rigging. It is a sign that GATA is making progress, however slow.
Progress could be made a lot faster, as Eveillard and a few other respectables might blow the market rigging to smithereens if they mustered a little courage and activism, such as a donation to GATA, which has been documenting, litigating against, and screaming about gold market rigging for years:
http://www.gata.org/taxonomy/term/21
For example, surely First Eagle has enough spare change to underwrite a few freedom-of-information actions against central banks such as those GATA has undertaken. But Eveillard and First Eagle might have a big impact without incurring any special expense at all. For Eveillard and other respectables who know better might just pick up the telephone and call The Wall Street Journal, the Financial Times, The New York Times, Reuters, Bloomberg News, and other financial news organizations and urge some coverage of gold market manipulation. (GATA can provide the names, phone numbers, and e-mail addresses.) Those mainstream news media organizations have had an easy enough time turning away GATA's many importunings, but they might freak out if they got a call from a respectable complaining about gold market manipulation. That would be a very big problem -- and not just for the financial news organizations but for the central banks too.
Of course the respectables have their reputations as well as their regulators to worry about. But then they also have a fiduciary obligation to their investors, an obligation that is not fulfilled very well by avoiding the market rigging issue.
Eveillard concludes his comments to King World News by saying: "I wouldn't worry too much about what happened today with gold and silver." But until he and other respectables start worrying, what happened today will keep happening again and again. Maybe Eveillard should ask his investors -- tonight, while the pounding is fresh -- whether they feel quite as nonchalant about gold market rigging as he affects to and whether they'd like it to end sooner rather than later or if later is just fine too.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
-- Posted Wednesday, 29 February 2012 | Digg This Article
| Source: GoldSeek.com
