John Browne concedes gold price manipulation

9p ET Wednesday, December 16, 2009

Dear Friend of GATA and Gold:

Discussion of gold market manipulation is growing and becoming more open. Today's formal acknowledgement comes from John Browne, senior market strategist for Peter Schiff's Euro-Pacific Capital, whose latest commentary remarks as follows about the European central bank gold agreement:

"However, it is highly suspicious that these nominally independent central banks would take coordinated action to support the gold price. This is especially true given that they've spent the last 40 years trying to do the opposite. In my opinion, it is much more likely that the CBGA was designed to covertly time purchases and sales to magnify gold's price volatility, in order to dissuade investors from holding it over the long term."

Browne's commentary is headlined "As Good as Gold" and you can find it at GoldSeek here:

http://news.goldseek.com/JohnBrowne/1261033860.php

And at 321Gold here:

http://www.321gold.com/editorials/browne/browne121709.html

Further, Rick Ackerman's commentary tonight at GoldSeek speculates that China might be as good as the United States at knocking the gold price down. Ackerman's commentary is headlined "Are U.S. and China Together on Gold?" and you can find it at GoldSeek here:

http://news.goldseek.com/RickAckerman/1261033260.php

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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