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Wow! Another gold fund manager gets suspicious
1:49p ET Thursday, March 1, 2012
Dear Friend of GATA and Gold:
Another gold fund manager, Gabelli's Caesar Bryan, today tells King World News that yesterday's bombing of gold was done by a not-for-profit seller, the strange sort of selling that keeps turning up at strategic moments in the market, and he's starting to wonder if it has something to do with central bank intervention.
Welcome to Planet Earth, Mr. Bryan!
GATA Chairman Bill Murphy, a former futures trader, noticed this not-for-profit gold selling at strategic price points way back in 1998 when he started his Internet site of financial market commentary, LeMetropoleCafe.com. Murphy's frequent observations about this sort of selling led to GATA's formation in January 1999, and GATA has been screaming about it for the 13 years since then.
While mainstream financial news organizations have been reluctant to publicize GATA's work and the massive official documentation we have compiled, GATA has gotten enough publicity that our work is widely known at least throughout the gold and mining sectors of the economy. If yesterday's market action arouses Bryan's curiosity enough, he might do well to review GATA's documentation file --
http://www.gata.org/taxonomy/term/21
-- if only as part of his fiduciary duty to his investors.
Then maybe, having spoken up once, if meekly, at King World News, Bryan could join First Eagle Gold Fund manager Jean-Marie Eveillard, who made similar comments to King World News yesterday --
http://www.gata.org/node/11045
-- in telephoning financial news organizations to ask for a review of the evidence of gold market manipulation. Again, Bryan might do this not for GATA's sake but for the sake of his investors.
It's not that we're not grateful for the 10-watt lightbulbs going off in the heads of these guys, but their belated comments demonstrate that the biggest obstacle to the success of the gold cause -- the cause of free and transparent markets and limited, accountable government -- is not really Western central banking but the ignorance, stupidity, and cowardice of the mining industry and the financial houses that purport to be committed to gold. If central banks can manipulate the gold market all the time without prompting complaints from their victims, of course they'll keep doing it.
Bryan's interview with King World News is posted here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/3/1_Cae...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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Golden Phoenix Discusses Royalty Mining Growth Strategy
on '21st Century Business' on Fox Business Network
Golden Phoenix Minerals Inc. has discussed its royalty mining growth strategy on the Fox Business Network program "21st Century Business" with host Jackie Bales. Golden Phoenix's director of corporate communications, Robert Ian, told how the company narrows its focus to project generation and future royalty streams. He explained why Golden Phoenix believes it's better to own joint-venture interests in several producing mines instead of full exposure to just one project.
"21st Century Business" has been airing for 15 years. Previous hosts have included Gen. Alexander Haig, Gen.l Norman Schwarzkopf, and Secretary of Defense Caspar Weinberger. Golden Phoenix appeared as paid programming on this broadcast.
To view the program with Golden Phoenix, please visit Golden Phoenix's Internet site here:
http://goldenphoenix.us/fox-business-network/
