-- and while KWN offers no particular evidence for its charge, that the BIS is intervening surreptitiously in the gold market nearly every day on behalf of its client central banks long has been documented well enough by the bank's annual reports --
Putting it all together best today may have been market analysts John Brimelow and James McShirley, who contribute frequently to GATA Chairman Bill Murphy's daily "Midas" commentary on the gold market at LeMetropoleCafe.com.
Brimelow, editor of the John Brimelow Gold Jottings letter, today reminisced about the failure in the 1990s of the 200-day moving average as a market indicator:
"Gold veterans will remember that it was in the mid-90s that the Frank Veneroso school judged there to be persistent central bank intervention in gold and began to wonder how far it extended into other markets. This concept is less controversial now than it was 20 years ago."
McShirley wrote:
"The last two months have been a microcosm of the past five years. Gold is being mugged in plain sight, right in front of the cops, with no media bothering to report the crime. It sounds like a broken record but clearly this rigging is untenable. Epic rallies come from markets that have become distorted. Gold and silver aren't merely being distorted; they are being suppressed to small fractions of their true net worth. Tsunamis come to mind when predicting the outcome."
For years GATA's premise has been that this market rigging could be defeated if it was documented, exposed, and publicized well enough. But while many people in the monetary metals industry have come to understand what is happening, few have acknowledged it in public. And while the documentation has been presented and explained to many financial news organizations, none in the mainstream have dared to pursue it seriously.
Even some mainstream financial news organizations that have approached GATA professing an interest in the subject have dropped it quickly and fled upon realizing how sensitive governments are about it.
Yet at least two major governments, those of Russia and China, have acknowledged knowing all about gold price suppression and even about GATA's work particularly:
So GATA presses on in the morning, even as the market rigging couldn't get more obvious. For it won't matter that the emperor wears no clothes until more people in his audience have the courage to exclaim that he's naked.
CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org * * *
Join GATA here:
New Orleans Investment Conference Wednesday-Saturday, October 26-29, 2016 Hilton New Orleans Riverside New Orleans, Louisiana http://neworleansconference.com/
Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:
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:
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, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, 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 GoldSeek.com, Gold Seek LLC,
is strictly prohibited. In no event shall GoldSeek.com, 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.