LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

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

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

GoldSeek.com to Launch New Website
By: GoldSeek.com

Is Gold Price Action Warning Of Imminent Monetary Collapse Part 2?
By: Hubert Moolman

Gold and Silver Are Just Getting Started
By: Frank Holmes, US Funds

Silver Makes High Wave Candle at Target – Here’s What to Expect…
By: Clive Maund

Gold Blows Through Upside Resistance - The Chase Is On
By: Avi Gilburt

U.S. Mint To Reduce Gold & Silver Eagle Production Over The Next 12-18 Months
By: Steve St. Angelo, SRSrocco Report

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA

Precious Metals Update Video: Gold's unusual strength
By: Ira Epstein

Asian Metals Market Update: July-29-2020
By: Chintan Karnani, Insignia Consultants

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA

 
Search

GoldSeek Web

 
'This is the business we've chosen'

By: Chris Powell, Secretary/Treasurer, GATA

 -- Published: Sunday, 9 April 2017 | Print  | Disqus 

Dear Friend of GATA and Gold:

Our friend E.S. writes:

"I thought your recent address to the two Asian mining conferences --

http://www.gata.org/node/17296

-- was unbeatable as a summary of what has happened and where we stand with respect to the gold issue.

"I may be beating a dead horse, but if a meeting with President Trump and Treasury Secretary Steve Mnuchin is unrealistic, what about an open letter to them published in The Wall Street Journal? The text could be simply a condensed version of your speech, with a few alterations to convert it into letter form.

"I know that publishing such a letter would be an expensive proposition, but you have done it in the past, if I recall correctly. Also, couldn't the gold and silver mining companies be solicited for funds? Maybe a few of them have finally begun to realize how central bank actions are ruining their industry. I know First Majestic's Keith Neumeyer is outspoken about the manipulation. McEwen Mining's Rob McEwen may also be a good prospect.

"Anyway, just an idea. Your speech was terrific.

"Best wishes, E.S."

* * *

Dear E.S.:

Thanks much for your kind note. Yes, nine years ago GATA paid more than a quarter-million dollars to put a full-page color ad in The Wall Street Journal --

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

-- and we're not inclined to give the paper another cent. Indeed, I wish we had that money back. It was my idea and the dumbest thing GATA ever did. It accomplished nothing. It was ignored by all financial news organizations. We didn't even get invited to the newspaper's Christmas party for advertisers that year.

Since I was in Hong Kong for the conference here last March I have had extensive conversations and e-mail correspondence with a Journal reporter in New York who has purported to be investigating the gold story but seems to be refusing to put any critical questions to central bankers. An expert in Europe to whom she requested an introduction had the same impression of her. I stopped taking her seriously some time ago.

In Hong Kong this week the conference people told me that a local Wall Street Journal reporter wanted to talk to me, but I had to caution them that if he ever pursued the gold issue he would likely cross with the paper's reporter in New York and be shut down quickly. I sent him some stuff that he acknowledged but I never heard from him. Of course I didn't expect to; I would have been stunned if I did.

GATA has no money for advertising. As it was, to afford sending me to Asia this year we had to beg money from some longtime donors whom we have exploited too much already.

As for the gold and silver mining industry, it knows what GATA is doing and knows that we could use the help, and with the exception of several companies, it does nothing.

I understand the industry's cowardice. No industry is more vulnerable to government than the mining industry -- for its mining permits, royalty requirements, and environmental regulation compliance. Since it is the most capital-intensive industry, with an ordinary mine commonly requiring a billion dollars in financing to get started, the industry is also very dependent on the biggest investment banks, which in turn are formally agents of the central banks. Governments and investment banks may not respond well to complaints from gold and silver mining companies about suppression of monetary metals prices.

But as far as I can see the industry's only choice is to die on its knees or risk dying on its feet. Until the industry makes the latter choice, it will be virtually useless, as useless as the World Gold Council, the great facilitator of paper gold, a collaborator with the central banks in price suppression and market destruction.

If it wasn't for the chance to get on Asian television in Singapore and Hong Kong, the prodding to write a summary speech every year, the courage and kindness of the Asian mining conference organizers in inviting GATA's participation, and the outside chance of meeting someone who might be willing to help substantially, I wouldn't bother with the conferences over here. It's a lot of work, travel, and expense. The potential attention of the mining industry alone could not justify it.

GATA has approached Keith Neumeyer and Rob McEwen many times. I have spent time with both of them. They have declined to help. I'm sure they have their reasons. I may have turned them off.

This is offered more in explanation than complaint. For as Lee Strasberg's Hyman Roth says in "The Godfather" --

https://www.youtube.com/watch?v=VsbyvuO_AqM

-- "This is the business we've chosen." So we're stuck with it and will get on with it.

Thanks again for writing and caring.

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

* * *

Join GATA here:

International Metal Writers Conference
Sponsored by Cambridge House
Sunday-Monday, May 28-29, 2017
Vancouver Convention Centre, East Building
Canada Place
Vancouver, British Columbia, Canada
http://cambridgehouse.com/event/68/international-metal-writers-conferenc...

GATA Reception at the International Metal Writers Conference
5-8 p.m. Monday, May 29, 2017
Lions Pub
888 West Cordova St.
Vancouver, British Columbia, Canada

* * *

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, 9 April 2017 | 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.