Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Closing Report: Gold and Silver Gain About 1%
By: Chris Mullen, Gold Seeker Report

Northern Vertex Files Preliminary Economic Assessment Report for the Moss Gold Mine in NW Arizona
By: Northern Vertex Mining Corp.

Does The CoT Structure Prohibit A Rally?
By: Craig Hemke

Harry Dent’s Gold Prediction Invalidated
By: Przemyslaw Radomski, CFA

SELLING OUT OF PRECIOUS METALS AND BUYING BITCOIN…. Very Bad Idea
By: Steve St. Angelo

The Bitcoin Bubble Explained in 4 Charts
By: Jake Weber

VXX Sends an Awesome Message from Another Galaxy
By: Rick Ackerman

Geopolitical Risk Highest “In Four Decades” – Gold Demand in Germany and Globally to Remain Robust
By: GoldCore

Asian Metals Market Update: November-22-2017
By: Chintan Karnani, Insignia Consultants

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

 
Search

GoldSeek Web

 
MarketWatch can report market-rigging rumor, so why not market-rigging fact?

By: Chris Powell, Secretary/Treasurer, GATA

 -- Published: Sunday, 20 March 2016 | Print  | Disqus 

Dear Friend of GATA and Gold:

MarketWatch tonight produces a true wonder of financial journalism. It's a story acknowledging a rumor about "conspiracy theory" involving central banks, a rumor that MarketWatch blithely declines to investigate by questioning any central banker.

The rumor -- speculation, really -- is that, far from being a failure, the G-20 conference in Shanghai in February reached a secret agreement to reduce the U.S. dollar's value in the currency markets.

It's plausible, but note how the MarketWatch report takes for granted that central banks are willing and able to rig markets in secret, how the report assumes that this is the natural order of things and not even worth questioning.

So why do MarketWatch and all other mainstream financial news organizations refuse to report that central banks long have been surreptitiously rigging the gold market as the prerequisite for all their market rigging, even though documentation and admissions of gold market rigging abound?:

http://www.gata.org/node/14839

That is, if rumor and speculation are reportable, why not fact as well?

The MarketWatch report is excerpted below.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * *

Did Central Bankers Make a Secret Deal to Drive Markets? This Rumor Says Yes

By Sarah Sjolin
MarketWatch.com, New York
Saturday, March 19, 2016

The dollar has taken a surprisingly big stumble in recent weeks, prompting traders to ask: What's really driving the selloff? The answer some are coming up with smacks of conspiracy theory.

Rumors are flourishing that global policy makers made a secret deal at the G-20 meeting in Shanghai late last month. This "Shanghai Accord" to weaken the greenback was aimed at calming the financial markets, which had gotten off to an awful start to the new year, according to the chatter.

No foreign-exchange pact was announced at the February meeting of central bankers and policy makers from the 20 largest economies. That hasn't stopped speculation that a plan of action was whipped up behind closed doors, as its supposed effects are beginning to emerge now: The greenback has shaved off more than 3 percent since the gathering, sparking a rally in stocks, emerging market assets, and commodities.

The dollar has taken a surprisingly big stumble in recent weeks, prompting traders to ask: What’s really driving the selloff? The answer some are coming up with smacks of conspiracy theory.

Rumors are flourishing that global policy makers made a secret deal at the G-20 meeting in Shanghai late last month. This “Shanghai Accord” to weaken the greenback was aimed at calming the financial markets, which had gotten off to an awful start to the new year, according to the chatter.

No foreign-exchange pact was announced at the February meeting of central bankers and policy makers from the 20 largest economies. That hasn’t stopped speculation that a plan of action was whipped up behind closed doors, as its supposed effects are beginning to emerge now: The greenback has shaved off more than 3 percent since the gathering, sparking a rally in stocks, emerging market assets, and commodities.

"To any conspiracy theorists, it's all become quite clear," said Chris Weston, chief market strategist at IG, in a note Friday. "There is a global coordinated central bank effort to weaken the [dollar] in play, which in turn has led to a massive de-risking in equity and credit markets." ...

Plus, there is something of a precedent: The Plaza Accord. In 1985 the finance ministers from the U.S., France, West Germany, Japan, and the U.K. made a deal to jointly guide the dollar lower against the yen and the German mark.

The action was meant to help jump-start the U.S. economy by reversing an extended run-up by the greenback. ...

Joachim Fels, global economic adviser at bond-trading firm PIMCO, told Bloomberg he also suspects central bankers have coordinated their actions to prevent the dollar from growing stronger.

"There seems to be some kind of tacit Shanghai Accord in place," he told the news outlet. "The agreement is to roughly stabilize the dollar versus the major currencies through appropriate monetary policy action, not through intervention." ...

... For the remainder of the report:

http://www.marketwatch.com/story/did-central-bankers-make-a-secret-deal-...

* * *

Join GATA here:

Mines and Money Asia
Tuesday-Thursday, April 5-7, 2016
Hong Kong Convention and Exhibition Centre
Hong Kong Special Administrative Region, China

http://asia.minesandmoney.com/

Mining Investment Asia
Wednesday-Friday, April 13-15, 2016
Marina Bay Sands, Singapore

http://www.mininginvestmentasia.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

 


| Digg This Article
 -- Published: Sunday, 20 March 2016 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com 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 GoldSeek.com. 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 GoldSeek.com, its affiliates or advertisers. GoldSeek.com 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 GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.