Dennis Gartman is 'willing to give GATA its due'

11:49a ET Thursday, August 1, 2013

Dear Friend of GATA and Gold:

Commodity market letter writer Dennis Gartman (www.TheGartmanLetter.com) today seems to back off a bit from his usual disparagement of suspicions of gold market manipulation.

He writes: ""The folks at GATA are waging their long war regarding manipulation of the gold market, and for once we are willing to give GATA its due, for spot gold is indeed tight as lending rates have gone near to zero and as the futures have tried to move to a backwardation. In fact, August Comex gold is trading 'parity' with September and is only 20 cents discount to October and a mere 60 cents discount to December. For once we are willing to listen to GATA's arguments, but we still wish that the gentlemen and ladies there put nearly as much effort into cancer research or the like as they do into debates over manipulation in the gold market; a cure would be found in days, we are certain."

But it is far too late for GATA's officers to undertake medical school, and while thousands of people are doing cancer research, nobody else is researching gold market manipulation. Besides, central banking as currently practiced, surreptitiously and for the benefit of a greedy elite, is cancer enough.

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