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The bad guys WILL be beaten -- probably by themselves

By: Chris Powell, Secretary/Treasurer, GATA

 -- Published: Wednesday, 17 September 2014 | Print  | Disqus 

Dear Friend of GATA and Gold:

Our longtime supporter R.B. writes tonight in disgust if not quite despair over the increasing rigging of the gold market:

"A question I've asked myself a more than once is: Why a guy such as I continues to think he can beat these people and invests accordingly, time after time, the routine being, in each cycle, turning out to have been that he got stubborn when he should have bent, and bent when he should have been stubborn. It seems the problem has been that I thought conventional logic would work sooner or later. Maybe we can beat these people sooner or later, but today's sort of activity makes that even harder to believe."

Your secretary/treasurer is no investment adviser; he merely has a layman's hope that truth and justice will prevail, even if that hope is impugned a bit by the hope he also has for the lottery ticket he bought on the way home tonight. But there is something to this hope.

The bad guys will be beaten, despite our not knowing at the moment exactly how or by whom, if only because the great lesson of history is that the bad guys always go too far and beat themselves. As for gold price suppression and surreptitious market rigging particularly, your secretary/treasurer suspects that circumstances are most likely to change overnight, as they did on March 14, 1968, when the London Gold Pool collapsed, having run out of gold for delivery:

Will any of us live to see the day? Of course many of our most expert and righteous colleagues died without seeing what they deserved to see. They deserved it more than we do. But the youngest among us might live to see it.

You just have to remember that with surreptitious intervention in the markets by central banks, institutions that lately have been authorized to create infinite money and operate largely in secret, which is essentially a license on infinite power, we are up against a totalitarianism far greater than the all the totalitarianism throughout history combined: the Nazis, the Commies, the fascists, the religious crazies, the kings and queens, and the lesser despots.

As a result this has taken a little time, and it may require a little more. But, as Gandhi said, "When I despair I remember that all through history the ways of truth and love have always won. There have been tyrants and murderers and for a time they can seem invincible, but in the end they always fall. Think of it -- always."

Now Gandhi and $1,200 or so will get you an ounce of gold tonight, which isn't terribly satisfying, but something is always being done at GATA's end. In addition to commiserating with R.B. tonight, your secretary/treasurer slogged through another disappointing and essentially irrelevant piece of journalism about gold, this time by David Milstead in the Toronto Globe & Mail --

-- and then wrote to the author:

* * *

Dear Mr. Milstead:

Reading your report tonight in the Globe and Mail from the Denver gold conference, I was disappointed that apparently no one at the conference mentioned the most important determinant of gold prices: surreptitious intervention in the gold market by Western central banks, intervention that now seems to encompass all major futures markets.

While my organization, the Gold Anti-Trust Action Committee Inc., has documented this intervention for many years, we have not had much success in persuading financial news organizations to look at the documentation and to question central banks about it.

A summary of the documentation, with links to the most important documents, is posted at GATA's Internet site here:

An updating from a few months ago is here:

The documents disclosed recently confirming that central banks are surreptitiously trading all the major futures markets, documents on file with the U.S. Commodity Futures Trading Commission, are here:

None of this stuff is what it is often disparaged as being, mere "conspiracy theory." Rather it is all public record and includes admissions from many central bankers themselves.

The destruction of markets will continue until financial news organizations report about it and challenge it, so I'll be very grateful if you would look at the documentation.

Of course I'd be glad to provide more information.

With good wishes.

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

* * *

Most major financial news organizations have gotten similar cordial pleas from GATA in the last year or so, and while these pleas are seldom acknowledged, nevertheless few people involved with the gold market have not heard complaints that it is manipulated by central banks. We know that the Russia government has known of such manipulation via GATA since 2004 --

-- and we know that the Chinese government has known since at least 2009:

We know that a worldwide currency war is under way even if the mainstream financial news organizations won't report it. The obvious peace is gold. Alas, we don't know when. But we do know that doing nothing makes nothing happen. So we press on in the morning, and you can help if you're so inclined, though of course we can't promise results, only effort:

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

* * *

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

Canadian Investor Conference
Sheraton Centre Toronto Hotel
Toronto, Ontario, Canada
Thursday-Friday, September 25-26, 2014

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

* * *

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:

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 -- Published: Wednesday, 17 September 2014 | E-Mail  | Print  | Source:

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