9:19p ET Wednesday, February 4, 2026
Dear Friend of GATA and Gold:
Today's report in Canada's National Post about gold market manipulation --
https://financialpost.com/commodities/mining/gold-bugs-right-price-5000-big-bank-theory [1]
-- was remarkable not just in itself, for raising at great length an issue that nearly all mainstream financial news organizations dare not to touch, but for a couple of details within it.
First, the writer, Gabriel Friedman, did something few journalists have ever done with the issue. That is, he attempted actual journalism at the highest level.
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Friedman didn't just report the assertions by Canadian mining entrepreneur Eric Sprott and your secretary/treasurer that central banks and their investment bank agents have been manipulating the gold market.
No -- Friedman sought to put those assertions to the U.S. Federal Reserve for a response. He reported that he got no comment, which, of course, spoke volumes.
Second, the reporter sought comment from a skeptic about gold market manipulation: David Garofalo, chief executive of Gold Royalty Corp. in Vancouver, a mine finance company. Garofalo dismissed gold market manipulation as "conspiracy theory."
But Friedman continued about Garofalo: "But he wouldn't completely write off their theory of bank manipulation, saying he had never actually looked into the matter. 'It's a rabbit hole,' Garofalo said."
This was like so many industry titans who seem to believe that if they don't already know about something, it can't be true -- even if they have never tried to find out.
As the National Post story mentioned, GATA's internet has an extensive archive of what it says are government records confirming longstanding Western government policy of gold price suppression. It's here:
https://www.gata.org/node/20925 [3]
If Garofalo ever would like to know what he's talking about, GATA would be glad to invite him to come down the rabbit hole for a two-day guided tour, during which we will examine all the documents, one by one, and request Garofalo's judgment as to whether they are genuine or forgeries and whether they have been misconstrued. If he thinks they're forgeries or have been misconstrued, we'll report it.
Mainstream financial journalists will be welcome to join us, though the documents have been sent to them many times over the years, sometimes even handed to them, face to face, without result.
Light refreshments will be provided.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org [4]
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Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
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