'Not one piece of evidence' that gold market is rigged? Really?

1:30p ET Sunday, April 28, 2013

Dear Friend of GATA and Gold:

For years your secretary/treasurer has been alerting the London Telegraph to documentation of the gold price suppression scheme and begging the newspaper to report it.

While the newspaper's brilliant international business editor, Ambrose Evans-Pritchard, has declined to get into the issue, he has acknowledged it from time to time. And another financial writer at the paper, Thomas Pascoe, has gotten into it in detail several times in recent years:

http://blogs.telegraph.co.uk/finance/thomaspascoe/100024081/the-gold-pri...

http://blogs.telegraph.co.uk/finance/thomaspascoe/100018574/the-price-of...

http://blogs.telegraph.co.uk/finance/thomaspascoe/100018367/revealed-why...

So it is disappointing that another Telegraph financial writer, Emma Simon, would assert in commentary published Saturday that "there is not one piece of evidence" that the gold market is rigged:

http://www.telegraph.co.uk/finance/personalfinance/investing/gold/100191...

Your secretary/treasurer wrote to her yesterday in protest, remarking, in part:

"My organization, the Gold Anti-Trust Action Committee, has been collecting and publishing such evidence for many years and I would be glad to describe it to you in detail.

... Dispatch continues below ...

---

ADVERTISEMENT

Get the real story about the precious metals
from the Sprott Precious Metals Round Table

Now you don't have to travel to attend a financial conference to hear Sprott Asset Management's precious metals experts -- Eric Sprott, Rick Rule, and John Embry. They held a round-table discussion on February 12 and you can watch it on the Internet. Among their topics:

-- Why are precious metals such a compelling investment opportunity?

-- Why are non-G7 central banks buying gold? Do Western central banks have any left?

-- Why are investors buying as much silver as gold in dollar terms? What does this mean for the price of silver?

-- Is the growing supply deficit of platinum and palladium going to push their prices higher?

To watch the conference, please visit:

http://w.on24.com/r.htm?e=579230&s=1&k=70B829852A33CD255CC2A43ED63D18D0&...

---

"Perhaps most telling is this secret report from the International Monetary Fund, written in March 1999, confirming that Western central banks conceal their gold swaps and leases lest disclosure impair their surreptitious interventions in the currency and gold markets:

http://www.gata.org/node/12016

"The Bank for International Settlements, which trades gold secretly on behalf of its member central banks, even advertises secret interventions in the gold market among its services to members:

http://www.gata.org/node/11012

"There is so much more, including admissions from former U.S. and European central bankers, in our general documentation archive:

http://www.gata.org/taxonomy/term/21

"Please follow up here. Your assertion that there is no evidence of gold market rigging is terribly mistaken, unfair to readers, and damaging to GATA."

Any acknowledgment of this protest will be reported to you, but please don't expect anything. A couple of weeks ago your secretary/treasurer wrote to the two reporters and the editor responsible in this Bloomberg News story --

http://www.bloomberg.com/news/2013-04-17/central-banks-find-stimulus-gli...

-- for contriving rationalizations for the gold price smash while omitting central bank intervention, asking if they would be interested in receiving documentation of that intervention and asking, if they were not interested, for a statement from them to that effect. Of course there has been no reply.

But we'll keep at it. Progress is slow but as was indicated by today's newspaper commentary from South Africa --

http://www.gata.org/node/12521

-- the more distant a news organization is from London and New York, the more financial journalism can be honest about the gold market.

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

* * *

Join GATA here:

World Resource Investment Conference
Sunday-Monday, May 26-27, 2013
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
http://www.cambridgehouse.com/event/world-resource-investment-conference...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16