Gold market manipulation issue seeping into polite company

Submitted by cpowell on 05:52AM ET Thursday, July 12, 2012. Section: Daily Dispatches Via GATA
8:47a ET Thursday, July 12, 2012

Dear Friend of GATA and Gold:

Commentary concurring that the gold market is or is probably manipulated by central banks for the same reasons the LIBOR interest rate was manipulated is turning up frequently now.

Jan Skoyles of The Real Asset Co. today notes, as GATA has been doing for a while, that the current manipulation just continues in secret the central bank manipulation that was conducted in the open through the London Gold Pool in the 1960s. Skoyles’ commentary is headlined “The London Gold Pool 2012”:

And MineWeb’s Lawrence Williams, in commentary headlined “LIBOR Scandal Brings Gold Price Manipulation Once More to the Fore,” writes today: “The idea of gold price manipulation, once the preserve of the much-derided Gold Anti-Trust Action Committee — derision is one of the principal tools in the armory of those wishing to diminish the views of organizations that try to expose wrongdoing — is now beginning to make an appearance in the mainstream press and among the most respected of financial commentators. Take this headline from the UK’s Daily Telegraph only yesterday: ‘The price of gold has been manipulated. This is more scandalous than LIBOR.'” Williams’ commentary is at MineWeb here:

Your secretary/treasurer was interviewed at length yesterday by a reporter for a mainstream news media organization that also seems serious about pressing the issue. While I provided her with much of the basic documentation, I urged her not to bother with supposed experts like me but rather to put some specific questions to the original sources of information, the Western central banks themselves; to collect from them a few refusals to answer these specific questions; and then to publicize those refusals and to ruminate on what they might mean.

Of course that sort of ordinary journalism isn’t likely to be committed soon, even by journalists openly contemplating the issue, but maybe within the next few years.

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

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