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Gold's rise is a 'mystery' because journalism always fails to pursue it
11:38a ET Tuesday, July 28, 2020
Dear Friend of GATA and Gold:
Thanks to Stephen Gandel at CBS News' Moneywatch bureau for inadvertently illustrating today the greatest power of governments and central banks in the financial markets.
Gandel's commentary is headlined: "Gold Prices Hit All-Time High, and It's a Bit of a Mystery Why."
... For the remainder of the report:
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Gandel writes: "Gold is usually seen as a safe haven when stocks are falling or when inflation is rising. Neither of those two things are happening right now."
Apparently Gandel hasn't done any grocery shopping lately, or paid any taxes or medical insurance bills. Apparently he believes government consumer price data when some ordinary journalist would disprove it.
But more than that, no mainstream news organization will report the longstanding Western government policy of surreptitious intervention in the gold market using the fractional-reserve gold banking system, which is based on derivatives and futures-market manipulation. That system created a vast amount of imaginary gold, delivery demands for which now are causing the system to implode and the metal's price to rise sharply in what seems like a classic short squeeze.
It has been documented by GATA for many years. It is summarized here --
-- and detailed fully here:
http://gata.org/taxonomy/term/21
The documentation has been provided constantly to major financial news organizations but almost always ignored, being considered a national security issue.
Has CBS News ever put a critical question to a central bank? Has any mainstream financial news organization ever done that?
If mainstream financial news organizations ever attempted journalism in regard to the gold market, central bank policy based on deception would fail instantly.
Thus the greatest power of central banking is not the power of infinite money creation. It is central banking's exemption from journalism.
The CBS News report proclaiming "mystery" about gold's rise is posted here:
https://www.cbsnews.com/news/gold-price-all-time-high-coronavirus-recovery/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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