Economist Polleit acknowledges gold market rigging
4:11p ET Tuesday, April 23, 2013
Dear Friend of GATA and Gold:
Investment banker and economist Thorsten Polleit today acknowledges to financial journalist Lars Schall, writing for Matterhorn Asset Management's Gold Switzerland Internet site, that the gold market is anything but free.
"A free market means that there is a free supply of and a free demand for gold that determines its purchasing power," Polleit says. "However, government-sponsored central banks also play a role in affecting the supply of and demand for gold through, for instance, lease transactions. In that sense market conditions are influenced, and at times greatly so, by government interference -- and therefore do not correspond with the principles guiding a free market."
Schall's interview with Polleit is headlined "It Isn't Capitalism That Has Caused the Crisis" and it's posted at Gold Switzerland here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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GoldMoney Reduces Storage and Exchange Fees
From April 1 GoldMoney will be reducing by a third its storage fees on gold stored at all VIA MAT vaults to just 0.12 percent per year and halving the cost of storing silver with VIA MAT Switzerland to bring it in line with GoldMoney's silver storage fees at other vault locations: 0.49 percent per year as the standard fee and 0.39 percent per year for more than 50,000 ounces of silver. In addition, GoldMoney's minimum storage fee will be reduced to only 0.001 grams per month for gold, platinum, and palladium, and 0.001 ounces per month for silver. In April GoldMoney also will be simplifying and reducing its metal-to-metal exchange fees. For the full details of these significant fee reductions, please visit: