You are here
Reg Howe: The gold and silver price suppression schemes are the same
12:25p ET Saturday, June 26, 2004
Dear Friend of GATA and Gold:
Bill Buckler, editor of The Privateer newsletter, always
provides an insightful read, even if he never has been
able to bring himself to mention GATA's pioneering
work in exposing the suppression of the price of gold.
Buckler's commentary for last week, dated June 18,
is now posted in the clear on the Internet and remarks
in part:
"It is when times are not so 'good' that the arsenal
of interventionist weapons is dipped into, and the
worse times get, the bigger the calibre of the weapon
employed. The first step is to drag down interest rates
(a la 2001). If that doesn't work, then the government
starts to ramp up their deficits (a la 2002). If that
doesn't work, then the central bank starts tinkering
with bank reserve requirements and adding 'liquidity'
to the system. When that doesn't work, an excuse for
a war is found to take people's minds off the economy
and get them all excited and ready to invest when the
war is 'won.' When that doesn't work, then an excuse
for redoubling all interventionist efforts is found
like a 'deflation scare'). And when that doesn't
work, the interventionists throw all caution to the
winds and start to manipulate EVERYTHING -- up to
and including the markets for stocks, bonds, futures,
commodities, and, of course, precious metals."
Tim Wood's report at MineWeb.com last night is
another example of the refusal to acknowledge
the obvious. Wood discloses that the World Gold
Council's U.S.-based bullion fund has been delayed
so long by bureaucratic obstruction at the Securities
and Exchange Commission that the WGC is considering
dropping the undertaking. Wood also reports that the
WGC, supposedly gold's advocate, long has been
embarrassingly silent about gold as an investment,
nominally because of its application to the SEC,
whose rules require an applicant for issuing a
security to shut up during the application period.
So what does Wood do?
Does he call the SEC for an explanation of the
delay? Does he begin to inquire as to whether
the U.S. government has policies hostile to a
free market in gold?
No, for, since its beginning, MineWeb doesn't
seem to have questioned ANY U.S. government
official or agency about gold policy.
Instead Wood remarks that the gold council's silent
ineffectuality has caused an "information vacuum
in America ... amplifying the ravings of pro-gold
conspiracists."
That is, more and more evidence supports the
"pro-gold conspiracists" but even when MineWeb
is forced to acknowledge it, that evidence never
prompts any journalistic investigation, only
sneers at those who would like to SEE some
investigation.
Central bankers from all over the world hold
regular meetings from whose deliberations the
public is excluded. Sometimes the central
bankers hold press conferences afterward or
issue joint statements that they plan to
coordinate their policies on gold. But MineWeb
never covers these conferences, and anyone
who complains about the secret concoction of
what is supposed to be public policy is a
raving conspiracy nut.
Yes, Fed Chairman Alan Greenspan may acknowledge
GATA's work before some people in the precious
metals community do. Heck, Greenspan is halfway
there already, having told Congress a few years
ago, in testimony most studiously ignored by those
who purport to represent or report about the mining
industry, that "central banks stand ready to lend
gold in increasing quantities should the price
rise" -- the purpose of gold leasing being frankly
to suppress the gold price, not to earn a little
interest on a supposedly dead asset.
While you wait for acknowledgement of any reality
in the financial world, you can find that June 18
commentary from The Privateer here:
http://www.the-privateer.com/gold6.html
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
----------------------------------------------------
To subscribe to GATA's dispatches, send an e-mail to:
gata-subscribe@yahoogroups.com
To unsubscribe, send an e-mail to:
gata-unsubscribe@yahoogroups.com
----------------------------------------------------
RECOMMENDED INTERNET SITES
FOR DAILY MONITORING OF GOLD
AND PRECIOUS METALS
NEWS AND ANALYSIS
Free sites:
http://www.cbs.marketwatch.com
http://www.capitalupdates.com/
http://www.silver-investor.com
http://www.thebulliondesk.com/
http://www.goldismoney.info/index.html
http://www.minersmanual.com/minernews.html
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html
http://www.investmentrarities.com
http://www.kuik.com/KH/KH.html
(Korelin Business Report -- audio)
http://www.plata.com.mx/plata/home.htm
(In Spanish)
http://www.plata.com.mx/plata/plata/english.htm
(In English)
Subscription site:
http://www.lemetropolecafe.com/
Eagle Ranch discussion site:
http://os2eagle.net/checksum.htm
Ted Butler silver commentary archive:
http://www.investmentrarities.com/
----------------------------------------------------
COIN AND PRECIOUS METALS DEALERS
WHO HAVE SUPPORTED GATA
AND BEEN RECOMMENDED
BY OUR MEMBERS
Blanchard & Co. Inc.
909 Poydras St., Suite 1900
New Orleans, Louisiana 70112
888-413-4653
http://www.blanchardonline.com
Centennial Precious Metals
3033 East 1st Ave., Suite 403
Denver, Colorado 80206
www.USAGold.com
Michael Kosares, Proprietor
US (800) 869-5115
Canada 1-800-294-9462
European Union 00-800-2760-2760
Australia 0011-800-2760-2760
cpm@usagold.com
Colorado Gold
222 South 5th St.
Montrose, Colorado 81401
www.ColoradoGold.com
Don Stott, Proprietor
1-888-786-8822
Gold@gwe.net
El Dorado Discount Gold
Box 11296
Glendale, Arizona 85316
http://www.eldoradogold.net
Harvey Gordin, President
Office: 623-434-3322
Mobile: 602-228-8203
harvey@eldoradogold.net
Investment Rarities Inc.
7850 Metro Parkway
Minneapolis, Minnesota 55425
http://www.gloomdoom.com
Greg Westgaard, Sales Manager
1-800-328-1860, Ext. 8889
gwestgaard@investmentrarities.com
Kitco
178 West Service Road
Champlain, N.Y. 12919
Toll Free:1-877-775-4826
Fax: 518-298-3457
and
620 Cathcart, Suite 900
Montreal, Quebec H3B 1M1
Canada
Toll-free:1-800-363-7053
Fax: 514-875-6484
http://www.kitco.com
Lee Certified Coins
P.O. Box 1045
454 Daniel Webster Highway
Merrimack, New Hampshire 03054
www.certifiedcoins.com
Ed Lee, Proprietor
1-800-835-6000
leecoins@aol.com
Miles Franklin Ltd.
3015 Ottawa Ave. South
St. Louis Park, Minn. 55416
1-800-822-8080 / 952-929-1129
fax: 952-925-0143
http://www.milesfranklin.com
Contacts: David Schectman,
Andy Schectman, and Bob Sichel
Missouri Coin Co.
11742 Manchester Road
St. Louis, MO 63131-4614
info@mocoin.com
314-965-9797
1-800-280-9797
http://www.mocoin.com
Resource Consultants Inc.
6139 South Rural Road
Suite 103
Tempe, Arizona 85283-2929
Pat Gorman, Proprietor
1-800-494-4149, 480-820-5877
Metalguys@aol.com
Swiss America Trading Corp.
15018 North Tatum Blvd.
Phoenix, Arizona 85032
http://www.swissamerica.com
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
FiGoldstein@swissamerica.com
----------------------------------------------------
HOW TO HELP GATA
If you benefit from GATA's dispatches, please
consider making a financial contribution to
GATA. We welcome contributions as follows.
By check:
Gold Anti-Trust Action Committee Inc.
c/o Chris Powell, Secretary/Treasurer
7 Villa Louisa Road
Manchester, CT 06043-7541
USA
By credit card (MasterCard, Visa, and
Discover) over the Internet:
http://www.gata.org/creditcard.html
By GoldMoney:
http://www.GoldMoney.com
Gold Anti-Trust Action Committee Inc.
Holding number 50-08-58-L
Donors of $750 or more will, upon request,
be sent a print of Alain Despert's colorful
painting symbolizing our cause, titled "GATA."
GATA is a civil rights and educational
organization under the U.S. Internal Revenue
Code and contributions to it are tax-deductible
in the United States.
