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Peter Schiff: The gold price is fixed -- so what?
3:10p ET Thursday, May 1, 2014
Dear Friend of GATA and Gold:
In commentary today Euro-Pacific Capital's Peter Schiff muses about growing suspicion that the gold market is manipulated by central banks and their associated bullion banks. This is progress but Schiff seems unaware of the enormous documentation collected by GATA confirming such suspicions --
http://www.gata.org/taxonomy/term/21
-- and he even argues that investors should welcome gold price suppression as an opportunity to obtain metal at a discount to its true value.
Gold investors who died cheated out of a free-market price for their metal and gold investors who are not likely to live forever may not be terribly encouraged by Schiff's rationale. And since the Western central bank gold price suppression scheme is the keystone of a policy of rigging all major markets, adherents of free markets generally and the progress they have accomplished for humanity may not rejoice all that much either.
Schiff's commentary is headlined "The Gold Price Is Fixed -- So What?" and it's posted at GoldSeek here:
http://news.goldseek.com/GoldSeek/1398957706.php
And at 24hgold here:
http://www.24hgold.com/english/news-gold-silver-the-gold-price-is-fixed-...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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