Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines

Gold Seeker Closing Report: Gold and Silver Trade Mixed with Stocks
By: Chris Mullen, Gold Seeker Report

CFTC refuses to address GATA's questions about gold and silver market rigging
By: Chris Powell

Trumpís Dilemma And Refuting The Gold/Yuan Peg Theory
By: Dave Kranzler

Eagle Plains Completes Royalty Agreement with Denison Mines
By: Eagle Plains Resources Ltd.

While The Bulls Fiddle With The 'Fundamentals,' Rome Burns
By: Avi Gilburt

Let Your Own Eyes Interpret This Chart
By: Rick Ackerman

Does Flat CPI in November Imply Flat Gold?
By: Arkadiusz Sieron

Yellen Warns Another Financial Crisis Is Brewing
By: GoldCore

Gold Seeker Closing Report: Gold and Silver Gain with Stocks
By: Chris Mullen, Gold Seeker Report

A Certain Perspective
By: Michael Ballanger


GoldSeek Web

Dennis Gartman insists that there are no conspiracies in gold

By: Chris Powell, Secretary/Treasurer, GATA

-- Posted Thursday, 25 July 2013 | | Disqus

Dear Friend of GATA and Gold:

Today's "Talking Numbers" program by CNBC and Yahoo Finance concocted a silly pillow fight between two talking heads, commodity letter writer Dennis Gartman and UBS and CNBC analyst Art Cashin, over "gold conspiracy theories," Cashin having remarked this week, if a bit incoherently, that something seems to be wrong in the gold market.

Gartman disagreed today, insisting that there are no conspiracies in gold. So apparently Gartman would have investors believe, just for starters:

1) The Federal Reserve has no secret gold swap arrangements with foreign banks, since such undertakings among two or more entities would define conspiracy, and Fed Governor Kevin M. Warsh was lying when he admitted such secret arrangements:

2) The Bank for International Settlements is not constantly and secretly trading gold, gold futures, gold options, and other gold-related derivatives on behalf of its members, which are exclusively central banks -- again, action undertaken secretly in concert by two or more entities, or conspiracy -- and that admissions of such trading, including the BIS' own annual reports and Power Point presentations, are lies or forgeries:

3) The Washington Agreement on Gold did not unify the gold market policies of 15 European central banks, was not negotiated in secret by them before it was announced on September 26, 1999, and never really happened at all:

4) There is no G-10 Gold and Foreign Exchange Committee, it does not consist of central bank and treasury officials from G-10 member countries, it does not meet secretly to discuss the gold policies of its members, and the document released by the Federal Reserve to GATA in February 2011 at the order of the U.S. District Court for the District of Columbia, purporting to be the minutes of the committee's secret meeting in April 1997, is a forgery concocted by the Fed to deceive the court:

5) William R. White, head of the monetary and economic department of the Bank for International Settlements, was lying when he told a BIS conference in Basel, Switzerland, in June 2005 that a primary purpose of central bank cooperation is "the provision of international credits and joint efforts [emphasis added] to influence asset prices (especially gold [emphasis added again] and foreign exchange) in circumstances where this might be thought useful":

On today's "Talking Numbers" program Gartman says again that the world would be better off if "gold bugs" spent more time trying to cure cancer and less trying to prove conspiracies related to the gold market. But surreptitious market rigging is a sort of cancer in itself, insofar as it facilitates the exploitation of countries that don't issue the world reserve currency and destroys free markets everywhere, including the markets of the country issuing the reserve currency, markets Gartman's letter purports to analyze even when, manipulated, they become mere holograms.

GATA is not a "conspiracy theory" organization or advocate. GATA documents the age-old if overlooked conspiracy of central banks against gold particularly and against free markets generally. This is actually fairly easy work, as the documentation is all over the place and central banks are sitting ducks for specific questions about their gold policy; they can seldom answer without incriminating themselves:

The central banks' only effective defense in regard to gold is the refusal of the mainstream financial news media and financial letter writers like Gartman to dare to commit actual journalism.

The hard part of GATA's work is that while you can lead a financial journalist to the documentation, such as the documentation above and the additional documentation in GATA's archive here --

-- you can't make him grow a backbone, which seems to be the only thing established by that "Talking Numbers" program with Gartman today. Thankfully it's less than six minutes long and can be found at Yahoo Finance here:

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

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

Or 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:

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 Thursday, 25 July 2013 | Digg This Article | Source:

comments powered by Disqus


Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2019 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


The views contained here may not represent the views of, Gold Seek LLC, its affiliates or advertisers., Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of, Gold Seek LLC, is strictly prohibited. In no event shall, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.