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overtheedge
Member since May 2012
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Chris Powell: Gold market manipulation -- Why, how, and how long?

- Chris Powell - GATA

"The futures markets are not manipulated; the futures markets are the manipulation."

Those of us old enough, operatively literate and still of sound mind can remember that the operations of the London Gold Pool back in the 60's was in the newspapers on TV and radio. There was no secret. No conspiracy because that requires secrecy.

Then over the decades, the manipulation morphed with the advent of the expansion of the futures market.

Still, manipulation was a known even though it became stale news.

Then along comes GATA attempting to whip of a frenzy of righteous indignation over what a goodly share of us already knew and accepted as status quo.

The only conspiracy I see is the inadvertent one that GATA's demands will expedite: Collapse of the world's economy.
Granted that it is inevitable. But every extra day provides an additional 1440 minutes for us to get ready.
GATA is not a constructive asset, but rather a threat.

I'm assuming GATA is a paycheck and unwrote all the costs of your trip to Germany.
It is always about the money. Mine versus GATA's income stream.

Consider the world's economy as passengers on a bus descending down from Pike's Peak. Nobody will be on top. Everyone is going to the bottom. The road is treacherous and needs a firm hand on the wheel with raw guts and determination to see us to the bottom. GATA as well as many individuals are screaming that a faster way to the bottom is over the side. And they are eager to wrest the steering wheel away from the driver to prove it.

Just because it is inevitable, doesn't mean we should endeavor to make it immediate.
As a small time producer and consumer, GATA does NOT represent me.
I don't have to sell my paltry poke.
Perhaps the far larger producers have a problem with debt management versus shareholder expectations.
NOT MY PROBLEM.

Commented 3626 days ago

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Beginning of the headline :Most financial journalism and most academic teaching maintain that gold is at best a quaint antique. But gold not only remains money but may again become the best and most important money. Even more than this, gold is in fact the secret knowledge of the financial universe, a secret desperately concealed by central banks... Read More

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