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

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines to Launch New Website

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


GoldSeek Web

Schiff wallows in 'conspiracy theory,' never addresses conspiracy fact

By: Chris Powell, GATA

 -- Published: Monday, 30 September 2019 | Print  | Disqus 

Dear Friend of GATA and Gold:

Euro Pacific Capital's Peter Schiff said this week that the recent indictments of three more traders at JPMorganChase on charges of manipulating the monetary metals market "do not vindicate all the conspiracy theories alleging that there has been a concerted effort by big banks to artificially suppress the price of gold in order to keep the fiat monetary system going."

Of course the indictments don't vindicate "all" the "conspiracy theories" -- and who said they did?

The indictments do impugn the U.S. Commodity Futures Trading Commission's competence in detecting market manipulation, insofar as the indictments cover the period during which the commission purported to be investigating manipulation of the silver market only to announce that it had discovered nothing actionable.

Since JPMorganChase is a primary dealer in U.S. Treasury securities and long has had an intimate relationship with the Treasury Department and Federal Reserve in executing various rescues on Wall Street, the indictments also might call that relationship into question by anyone who has a little more curiosity than Schiff.

But Schiff still dismisses as "conspiracy theory" complaints of surreptitious government and central bank intervention in the monetary metals markets even as GATA has been documenting such intervention for nearly 20 years.

The March 1999 staff report of the International Monetary Fund confirming that central banks conceal their gold swaps and leases to facilitate secret interventions in the gold and currency markets is not "conspiracy theory" but conspiracy fact:

The 2008 PowerPoint presentation of the Bank for International Settlements advertising to potential members that its services include secret interventions in the gold market is not "conspiracy theory" but conspiracy fact:

The 2005 speech by the head of the BIS' monetary and economic department, William R. White, asserting that a primary purpose of international central bank cooperation is gold and foreign exchange market rigging is not "conspiracy theory" but conspiracy fact:

The transcript of U.S. Secretary of State Henry Kissinger's conversation with his deputy, Thomas O. Enders, at the State Department in April 1974, in which they discussed U.S. policy to push gold out of the world financial system to sustain the dollar as the world reserve currency is not "conspiracy theory" but conspiracy fact:

The "Central Bank Incentive Program" operated by CME Group, proprietor of the major futures exchanges in the United States, under which governments and central banks get discounts for their secret trading of all major futures contracts is not "conspiracy theory" but conspiracy fact:

The refusal of the U.S. Treasury Department and Federal Reserve to answer a congressman's questions about which markets they're secretly trading in is not "conspiracy theory" but conspiracy fact. So is the refusal of the Commodity Futures Trading Commission to answer the congressman's question as to whether the commission's jurisdiction extends to manipulative trading done by or at the behest of the U.S. government or whether such trading is legal, authorized by the Gold Reserve Act of 1934:

We could go on and on but Schiff, like many other fund managers, analysts, and pundits, never addresses the documentation, even as he is a frequent guest on business-oriented television programs. Maybe he never addresses the documentation because never addressing it is a prerequisite of appearing on those programs.

Schiff's wallowing in "conspiracy theory" can be viewed at his internet site here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Friday-Monday, November 1-4, 2019

* * *

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:

To contribute to GATA, please visit:

| Digg This Article
 -- Published: Monday, 30 September 2019 | E-Mail  | Print  | Source:

comments powered by Disqus


Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2019 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of 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 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, Gold Seek LLC, its affiliates or advertisers., 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, Gold Seek LLC, is strictly prohibited. In no event shall, 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.