If you whip the gold producers and the poor folks working for them that are trying to just make a living, then you should go out into the countryside and whip the farmers(most play the futures now), go to the local McDonalds and whip them (they buy beef futures), go to the grocery store and whip them (vegetable, juice, meat etc., futures) and many other examples exist in our everyday life. In fact futures (hedges) give us a dependable market in many things we buy and depend on, and even out price fluctuations. They are an integral part of what makes our lives so much better than the rest of the world.
Without them, all the farmers might bring their crops to the market at the same time, the price would plummet with the oversupply for a time, then there would be nothing for a time and the price would skyrocket. The same thing is true for all commodities,...even gold. Better to allow the producers to pre-sell their production to lock in a price, than to have them all try and sell at the same time,...wild price fluctuations would result. Giving a producer a locked in price for several years in the future, also allows them to raise the money from the bankers to fund new mines, and that has resulted in cheaper costs of production, and cheaper prices of goods for us all.
I look at GATA, and the people trying to raise the price of gold, as being just as bad as someone trying to lower the price of gold. They are both conspiracies, both are evil and against what is right, and both should be punished for their deeds. The only thing stopping a free market in gold is the hordes of gold stored in Central Banks around the world. That is the big sword hanging over the producers and consumers of gold, and over the investors of those companies. The fact the masters of the Central Banks can turn the spigot on and off, without reason, and without regard for the damage it causes in the market is just plain stupid.
Direct your venom to the cause of the problem, so that the secret society of central bankers and their masters will have to account for what they do. Direct your venom to others, and you allow the real criminals to continue to work their dirty deeds without penalty. |
