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Bron Suchecki: China to control the gold price, but with physical or paper?
9:37p ET Tuesday, July 14, 2015
Dear Friend of GATA and Gold:
In commentary headlined "China to Control the Gold Price, but with Physical or Paper?," Perth Mint research director Bron Suchecki today elaborates on a point often made lately by your secretary/treasurer: that China's growing influence over the gold price may not necessarily be bullish, that China wants gold to share the currency market-rigging power now enjoyed by the United States, and that China almost certainly was complicit with the smashing of the gold price in April 2013. For example, see:
http://www.gata.org/node/13256
http://www.gata.org/node/15361
Suchecki writes: "While the Chinese are indeed large consumers of physical, I think it is naïve to think that as their gold market matures their bullion banks will refrain from the same exchange/over-the-counter proprietary paper trading activities that Western bullion banks do, or that the same greed dynamic we have seen driving leveraged Chinese stock market investing (via official and hidden margin lending) will not occur in the gold market."
Suchecki's commentary is posted at the Perth Mint's Internet site here:
http://research.perthmint.com.au/2015/07/14/china-to-control-the-gold-pr...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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