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Gold suppression is part of Fed's 'financial repression,' Rickards says
6:07a PT Monday, January 20, 2014
Dear Friend of GATA and Gold:
Gold price suppression figures heavily in what may be the best interview yet done with fund manager, author, and geopolitical strategist James G. Rickards, this time by the German financial journalist Lars Schall on behalf of Matterhorn Asset Management's GoldSwitzerland Internet site.
Rickards says the U.S. Federal Reserve wants to control the gold price as part of its general policy of "financial repression," by which interest rates are to be forced below the rate of inflation. A gold price set by a free market, Rickards argues, would expose the policy too much and risk pushing inflation beyond the Fed's control. The Fed controls the gold price, Rickards says, "by using various price-depression techniques which are quite simple to execute including physical gold sales, paper gold sales, leasing, unallocated gold -- there's a whole of bunch of techniques that they use. So they will suppress the price of gold not to make it a lot lower but just to make sure it doesn't go up a lot faster."
Schall's interview with Rickards can be heard at GoldSwitzerland's Internet site here:
http://goldswitzerland.com/jim-rickards-the-matterhorn-interview-jan-2014/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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