Is Casey Research peeking out from behind its ideological blinders?


10:35a AEST Tuesday, October 15, 2013

Dear Friend of GATA and Gold:

New commentary by Louis James of Casey Research suggests that the organization is finding gold market manipulation more plausible and perhaps not disparaging the idea so much anymore.

In "Shutdowns, Smackdowns, and Touchdowns," James writes that the recent frequent bombing of the gold market at counterintuitive times "prompts many gold enthusiasts to embrace theories of market manipulation."

He adds: "There certainly have been days this year when some entities dumped large amounts of gold onto the market with clear disregard for getting a good selling price. It's hard to see that as normal market behavior, but it does not prove that governments are suppressing the price of gold; it's just as plausible that major players with short positions acted to profit from the ensuing extreme fluctuations."

... Dispatch continues below ...


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Yes, the counterintuitive bombings just support suspicions that central banks are intervening surreptitiously against the gold price. What proves those suspicions are the documents and statements extracted from central banks and central bankers by GATA, like this secret report of the staff of the International Monetary Fund disclosing that central banks conceal their gold swaps and leases to facilitate their secret interventions in the gold and currency markets:

There's a lot more proof in GATA's "Documentation" file here:

The libertarian aspects of Casey Research founder Doug Casey's ideology are probably pretty congenial to the general outlook of many GATA supporters, though not Casey's nihilist inclinations. So why has Casey himself long been so dismissive of concerns about gold market manipulation?

Maybe it is because, like many people, Casey has been blinded by his ideology and made smug by his financial success. Many such people figure that if something was happening they would know it already and that if they don't know it, it can't be happening. Casey's ideology holds that the markets are supreme. Maybe markets should be supreme, but when central banks have the power to create infinite money and debt, they can destroy any and all markets openly or surreptitiously -- and, indeed, now are doing so in a desperate effort to preserve their power.

Only one thing is superior to such power -- enough exposure so that people begin to refuse to be so exploited. When people realize that markets are no longer markets, they will not participate in them and market rigging will fail.

Casey Research could be a powerful help to GATA in that effort if it would remove its ideological blinders and consider the evidence. That would be research, rather than Casey's usual mere pontification.

James' commentary is posted at the Casey Research Internet site here:

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

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