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

GoldSeek Radio: Gerald Celente and Peter Schiff, and Chris Waltzek
By: radio.GoldSeek.com

Technical Scoop - Weekend Update December 17 2018
By: David Chapman

A Turn In The Tide
By: Plunger

Gold Market Update
By: Clive Maund

Palladium?
By: Larry LaBorde

The Misunderstood Flattening Yield Curve
By: John Mauldin

This Market Will Drive Gold in 2019...
By: Jordan Roy-Byrne CMT, MFTA

All (Political) Roads Lead To Massively Higher Government Spending
By: John Rubino

A VERY RARE SETUP: Who Will Win The Tug Of War In The Oil Market?
By: Steve St. Angelo

A Grim Forecast for the Euro -- and the EU
By: Rick Ackerman

 
Search

GoldSeek Web

 
Doug Pollitt: 'Tinfoil hat crowd' was right, and gold mining executives are saps

By: Chris Powell, Secretary/Treasurer, GATA

 -- Published: Friday, 16 December 2016 | Print  | Disqus 

Dear Friend of GATA and Gold:

Responding to the documentation just disgorged by Deutsche Bank in federal court in New York, Doug Pollitt of investment house Pollitt & Co. in Toronto today declares victory for the "tinfoil hat crowd" in the contest over manipulation of the monetary metals markets.

But more important, Pollitt chides the gold mining industry for playing saps for the banks that buy and rig the price of the industry's product.

"The organizations the gold mining industry depends upon to market its metal did not have their clients' best interests in mind," Pollitt writes. "This may still be the case. Perhaps a gold mining company (or two) will read this note and if they do, by the time they are done, they may well think that there may be a better way to get their product into the hands of the people who want it. ...

"Gold is down $200 in five weeks and some equities are back where they started from. Yet the sector's survival instinct remains difficult to discern. Maybe they don't feel ... that they can do anything about it. Maybe price-taker mentality is burned into their collective brain. N.M. Rothschild's walked away from the fix in 2004. After almost a hundred years of operation, maybe it is time the gold producers showed a bit of pride and did so too."

With Pollitt's kind permission his letter is posted at GATA's internet site here --

http://www.gata.org/files/PollittMarketLetter-Dec2016.pdf

-- where gold mining company investors who are not yet completely demoralized might obtain copies to bludgeon company chief executives with.

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

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: Friday, 16 December 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 - 2019



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


Map

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.