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Agitation against gold price suppression can produce good stuff
12:58p ET Wednesday, September 7, 2011
Dear Friend of GATA and Gold:
Our friend Allan Flynn in Australia showed this week how everyone in the precious metals and free-market communities can agitate and mobilize our resources. He wrote a letter to the Minerals Council of Australia (http://www.minerals.org.au/) asking it to start paying attention to the surreptitious suppression of the gold price by Western central banks. Flynn's letter is appended and we hope that he'll let us know if he gets a response. Certainly if an industry representative like the minerals council was to question the Reserve Bank of Australia and other Western central banks about their gold policy and publicize the responses, or lack of responses, the cause would be advanced.
Of course this isn't easy. Over the last few days GATA has alerted two dozen financial journalists as well as the World Gold Council to the confirmation of the gold price suppression scheme that has come out of the disclosure of cables sent from the U.S. embassy in Beijing to the State Department in Washington, and while one of the journalists was apologetic for not getting into the issue, no one else, not even the gold council, responded in any way. It seems that the issue is simply too sensitive, though gold mining industry organizations might be expected to have a little more loyalty to those they purport to serve.
... Dispatch continues below ...
Golden Phoenix to Present at Investment Conference at Waldorf
Company Press Release
Thursday, September 1, 2011
The chief executive officer and the communications director of Golden Phoenix Minerals Inc. (OTC Bulletin Board: GPXM) will speak at the Rodman & Renshaw Global Investment Conference at the Waldorf Astoria Hotel in New York City on Tuesday, September 13.
The CEO, Thomas Klein, and the communications director, Robert Ian, will address the conference from 2:50 to 3:15 p.m. at the hotel. The conference's keynote speakers include former Vice Presidents Dick Cheney and Al Gore and former Secretary of State Henry Kissinger.
"At this conference Golden Phoenix will introduce its royalty mining growth strategy to a global investment audience," Klein says. "With rising gold prices, industry consolidation, and central banks becoming net buyers of gold, we believe that the investment demand for emerging and diversified gold producers like Golden Phoenix offers the potential for significant growth."
Golden Phoenix is a U.S. mining company with international exposure to gold, silver, and strategic metals. The company's business model combines project generation and royalty mining that offer the potential for exploration upside with the backing of production and future royalty streams.
For information about the conference, including last-minute room and schedule changes, please visit:
http://www.rodmanandrenshaw.com/conferences?id=164
For the complete press release, please visit:
http://goldenphoenix.us/press-release/golden-phoenix-to-speak-at-rodman-...
Perhaps the only free press on this issue is in the East, not the West, so your secretary/treasurer will address a large audience in Hong Kong in a couple of weeks.
But you never know where or how something will break in our favor. Look what our friend R.M. in Ireland accomplished recently. First he elicited an admission from the Central Bank of Ireland that the country's gold reserves have been transferred to the Bank of England in pursuit of a secret "investment strategy":
http://www.gata.org/node/10371
Then he located additional revealing gold-related cables from the U.S. embassy in Beijing:
http://www.gata.org/node/10387
So thanks to R.M. and Flynn for their agitation. It should be copied by everyone in some way -- with mining industry sources, journalists, and government officials.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
AN OPEN LETTER TO THE MINERALS COUNCIL OF AUSTRALIA
Brendan Pearson
Minerals Council of Australia
5 September 2011
Dear Brendan:
For some time "conspiracy theories" have abounded on the Internet concerning a possible secret destructive U.S. role in the gold market.
The idea has been nurtured not only by the opacity of the gold market discussed in Australian gold industry adviser Dr Sandra Close's 2002 book "The Great Gold Renaissance" but also by the dismissal of the theory as a ridiculous Internet plot. Therefore the notion that the United States was suppressing the value of gold with the assistance of others has been noted by few mainstream commentators and acknowledged by even fewer.
Last year the Gold Anti-Trust Action Committee (GATA), to whom much of the "conspiracy" on the Internet may be attributed due to their thorough work of documenting the clues, sued the U.S. Federal Reserve, forcing disclosure of the minutes of a secret meeting of the G-10 Gold and Foreign Exchange Committee in April 1997, showing Western central bankers conspiring to coordinate their gold market policies. This followed an admission by a member of the Board of Governors of the Federal Reserve, Kevin M. Warsh, that the Fed has gold swap arrangements with foreign banks and insists on keeping those arrangements secret.
I have advised some people of this very interesting fact, which doubtless has not been publically aired in the news media for a number of reasons, of which apathy may be one.
The main reason I am writing today is to discuss leaks of cables from the U.S. Embassy in Beijing over the last week which provide astonishing confirmation that not only does China unofficially acknowledge the U.S. role in gold price suppression but also that China has implemented policy based on these facts, policy that includes planning for a sudden return by the United States to a gold standard:
http://www.gata.org/node/10387
The leaked cables bring GATA's manifesto documenting decades of secret gold price suppression among Western central banks out of the realm of conspiracy theory to being worthy of policy study and discussion.
There are many questions that should be asked about the last two decades of gold history.
For instance, was it coincidence that most of the West's central banks thought it a great idea to sell their gold reserves within five or six years of each other or had someone interested them in a connection between low gold prices and interest rates? As the popularity of gold as an asset class grows, are we in the Australian gold industry, which Dr. Close says ranks No. 2 in the world, interested in whether the gold price is subject to suppression or are we happy to dig it out of the ground and sell it to whomever to their express price advantage?
Finally and not in the least, how would Australia, with its low ranking of gold reserves, manage a transition away from holding reserve paper assets and back toward holding realistic gold reserves should the West suddenly be forced to return to a partial gold standard as China predicts?
I look forward to these issues being brought into the public realm, and perhaps they may be worthy of the interest of the gold committee of the MCA.
Kind Regards,
Allan Flynn
Canberra
* * *
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Prophecy Platinum Drills 49.5 Meters Grading 1.27 g/t PGM+Au at Yukon Wellgreen Project
Company Press Release
August 22, 2011
Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) announces results from its 2011 drilling program for its first completed hole on the Wellgreen Project in the Yukon Territory, Canada.
Borehole WS11-184 encountered 472.6 meters of mineralization grading 0.43% nickel equivalent from surface to the footwall contact. Within this larger swath of mineralization the hole encountered 49.5 meters of 1.27 grams per ton platinum group metals plus gold, 0.71% nickel, and 0.45% copper (or 1.11% nickel equivalent).
The geology transitioned from blebby disseminated to net-textured to massive sulphide approaching the footwall contact grading 6.3% nickel, 1.7% copper, 2.7 grams per ton platinum, 1.6 grams per ton palladium, 0.17 grams per ton gold, and 3.4 grams per ton silver. The drilling zones and results are tabulated here, with more information:
http://www.prophecyplat.com/news_2011_aug22_prophecy_platinum_wellgreen_...
