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Gold manipulation is acknowledged at Kitco News only to be rationalized
11:22a ET Monday, April 6, 2020
Dear Friend of GATA and Gold:
Amid the strange and growing disparity between prices for real gold and silver, on one hand, and the prices of futures contracts on the other, the topic of market manipulation makes an equally strange appearance today on Kitco News.
Reporter Daniela Cambone interviews E.B. Tucker, a director of Metalla Royalty and Streaming Ltd., who, citing that price disparity, muses that "the people who have been arguing about manipulation in the gold market and talking about that for years are not as crazy as we once thought."
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Tucker adds: "There's maybe up to a hundred ounces of paper gold trading for every real ounce of gold that's in New York vaults."
But before giving anyone time to wonder if Tucker is not as crazy as he once may have been thought to be, he goes on to rationalize ignorantly about market manipulation:
"What I would always say about manipulation is: Never complain about artificially low prices. ... Just buy some more gold. ... The manipulation was a great chance for people to get physical gold."
Oh, how many times have gold investors heard that before?
How many gold investors in recent decades have gone to their graves profoundly cheated?
How many poor and developing countries have been expropriated over the generations, critically hampered in raising the living standards of their people so that the developed countries that control the world financial system could enjoy cheaper natural resources?
It's as if Tucker has never heard that, like gold itself, time is money too.
But then Tucker, sitting in front of several market-monitoring computer screens, tells Cambone he is living comfortably in Florida. He doesn't look like he is breaking a sweat to make a living as most people in, say, South Africa or Peru must do as their scratch and claw their livings out of the ground.
In any case that Kitco News today provides a hint of the obvious about the gold market may be considered a small victory over the usual disinformation. Cambone's interview with Tucker is 14 minutes long and can be viewed here:
https://www.kitco.com/news/2020-04-06/Talk-of-gold-price-manipulation-is...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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