-- Published: Friday, 1 June 2018 | Print | Disqus
Dear Friend of GATA and Gold:
At the opening of GATA's Gold Rush 21 conference in Dawson City, Yukon Territory, back in August 2005, our friend, South Africa's "Mister Gold," the late Peter George, was already tired of the brazenness of gold price suppression.
"In the last 10 years," George said, "the central banks have effectively shown that when there is a real crisis, gold actually goes down -- and it's so blatant, it's a joke":
Five years ago yesterday your secretary/treasurer wrote:
"If the Northern Hemisphere was destroyed in a nuclear war, the Federal Reserve, JPMorganChase, and HSBC would get some brokers to Sydney, Rio de Janeiro, and Johannesburg to sell gold futures massively and drive the price down by at least 5 percent.
"Kitco market analyst Jon Nadler would crawl out from the rubble and opine to the cockroaches that the gold price had fallen because so many gold buyers had been killed, as he always had predicted would happen.
"CPM Group's Jeff Christian would telephone New Zealand not to worry because he was flying down with reams of gold-colored paper that would work just as well in Wellington as it did in New York as long as nobody asked what was behind it.
"And the World Gold Council would console itself with whatever high-fashion models could be found wearing nose rings in French Polynesia.
"But with London and New York razed, at least we'd be spared more contrived rationalizations about the strange market action from the Financial Times and Wall Street Journal":
As often said by bus driver Ralph Kramden of "The Honeymooners," played by Jackie Gleason back in the 1950s, "One of these days, Alice -- to the moon!":
But, probably, first the scales will have to fall from the eyes of some of our betters in financial market analysis and journalism or they'll have to grow backbones and acknowledge the obvious.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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Thursday-Sunday, November 1-4, 2018
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-- Published: Friday, 1 June 2018 | E-Mail | Print | Source: GoldSeek.com