Manipulation, Gata, etc:
Gata can't lose! - they see manipulation under every stone -and can always raise the war cry "Ah, you see it was manipulation!"
Manipulation occurs every time there is government intervention on the currency front - or when the Fed changes rates, and, yes, when CBs change their policy re their gold holdings.
For so long the CBs seemed to be on the list of great Satans according to Gata - but then, lo and behold, 15 CBs got together with their declaration on gold sales and leasing.
So what do we have here? Manipulation is evil so long as it is perceived to be hurting gold - but OK if it has the contrary effect.
Manipulation can be ignored on the currency and fiscal front - because, well, it isn't gold you know?
As I say, Gata can't lose because of its selective vision. It can always find 'manipulation' of one sort or another lurking under a bush.
The market has a way of balancing excesses - eg Ashanti and Cambior.
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