-- Posted Tuesday, 1 May 2012 | | Disqus
Our friend M.C. writes:
"I know your are one of the world's most studied experts on this subject, way ahead of me in knowledge, so I may not be saying anything you haven't already considered. I read the book 'Yamashita's Gold' a couple of years ago. The quantities of gold written about stay in my mind. The information is all shadowy, of course. The idea that much of the Western world's gold made its way to the Far East as payment for spices, silks, etc., also stays in my mind.
"That this gold was gathered up and moved around either before or during World War II also makes sense. It had to end up somewhere.
"Documentation is too thin to to be mainstream precious metals investment material, but where there's smoke, there's probably fire. So perhaps there is enough gold in the world to serve as backing for all the digital money that has been conjured up in recent years.
"Of course the powers that be do not want such golden shackles. I've seen the 'mining statistics'-based analysis of how much gold should have been mined and should exist in stockpiles. It's scholarly work, but there may be factors at work that haven't been consider -- such as that gold is now more plentiful on the earth's surface than it was in early times.
"What do you think?"
H.M., thanks for your note and the compliment but I'm not at all such an expert. To the contrary, the gold world is a big mystery to me, and GATA's contribution is simply to raise the possibility that it is also actually a mystery to most supposed experts as well.
I'm aware of the Yamashita stories --
http://en.wikipedia.org/wiki/Yamashita%27s_gold
-- and particularly the one contending that a vast stash of gold plundered from Asia by Japanese forces during World War II was secretly confiscated by the United States. I have always discounted the story, in part because of the collapse of the London Gold Pool in 1968 --
http://en.wikipedia.org/wiki/London_Gold_Pool
-- and in part because of all the documentation GATA has pried out of government sources acknowledging or implying great scarcity of the metal:
http://www.gata.org/taxonomy/term/21
For if so much hidden gold was available to it, the United States would not have been so desperate to close the gold pool as its reserves were depleted. Nor would the U.S. government through the years since World War II been so insistent on preventing a free gold market from developing. Indeed, if gold was actually as common as the Yamashita stories maintain, the Federal Reserve, Treasury Department, and Bank of England already would have arranged for Louis d'Ors to be inserted as prizes in Cracker Jack and children's cereal boxes.
After all, the way to devalue gold is to flood the world with it.
But what has the world been flooded with? Not real gold but "paper gold," imaginary gold. This reliance on the imaginary and the ever-more-embarrassing secrecy imposed by Western central banks on their gold reserves and activities in the gold market argue for scarcity of the real thing rather than surplus.
They used to say on a popular television show that "the truth is out there." More likely the truth is in there -- in government files, like the files GATA pried open a little with the success of our recent federal Freedom of Information Act lawsuit against the Fed in U.S. District Court for the District of Columbia:
http://www.gata.org/node/9917
There are grounds for bringing more such lawsuits, and with sufficient financial support, GATA will undertake them. If it really had Yamashita's gold, the U.S. government wouldn't be fighting us so hard.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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-- Posted Tuesday, 1 May 2012 | Digg This Article
| Source: GoldSeek.com
