-- Posted Wednesday, 28 November 2012 | | Disqus
Dear Friend of GATA and Gold:
Grant Williams, editor of the "Things That Make You Go Hmmm" letter, suggests in his letter published today that he follows GATA's work closely and gives it some credence, insofar as he notes in detail the growing demands for repatriation of central bank gold reserves held in vaults other than the owner's own.
Williams' broader topic is gold market manipulation, and he writes: "I believe there is no smoke without fire, and I always apply the two criteria of motive and means to any suspected conspiracy. In the case of gold (and silver), I cannot help but conclude that central banks and governments certainly have the motive to suppress prices (as they reveal only too clearly the extent to which the purchasing power of fiat currency is being debased), and as for the means. ...? Well, based on what we have seen in terms of intervention in the far larger sovereign bond markets in recent years, I think arguments over that particular part of the equation have been rendered somewhat redundant. ...
"The West sees gold as a means to hide the existence of inflation while the East sees it as protection from inflation. That means the West is selling gold whilst the East is buying it. ... The more central banks ask for audits and repatriation of their gold, the more that trend will accelerate; and the more that trend accelerates, the less gold will be left in the 'safe' confines of the Federal Reserve and the Bank of England."
Rephrasing a thought that came to your secretary/treasurer the other night as he mused that those who deny gold market manipulation have the difficult task of proving a negative --
http://www.gata.org/node/11964
-- Williams quotes from a play by the British novelist, comic, and academic China Mieville: "Is it more childish and foolish to insist that there is a conspiracy or that there is not?"
Here at GATA we don't like the word "conspiracy" because it seldom comes our way without "theory" or "theorists" close behind. But of course there are conspiracies here and there, and more importantly there are even public policies arising from the coordinated actions of governments or government agencies, polices that may involve "conspiracies" insofar as those who carry them out try to keep them secret. But such secrecy does not necessarily diminish the complaints of those who document any particular secret policy, as GATA long has done with the Western central bank gold price suppression scheme:
http://www.gata.org/taxonomy/term/21
All we ask is that critics first take the time to familiarize themselves with the evidence that has been set out for them and then dispute it specifically.
Williams' new letter, its first 21 pages devoted to the growing indications of gold price suppression and headlined "The Mousetrap," is posted here --
http://mauldin_images.s3.amazonaws.com/images/uploads/ttmygh/6107/Nov27_...
-- and with it he has earned his tin-foil hat complete with earflaps just in time for the Northern Hemisphere's winter, if not the Kondratieff one.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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-- Posted Wednesday, 28 November 2012 | Digg This Article
| Source: GoldSeek.com
