CB:
I believe that GATA's goal is not so much to win the case as it is to raise the public's and investors' consciousness with respect to "the gold game". As far as I can tell, they have already achieved that goal in spades. A few months ago, few investors had a clue about gold loans, gold leases, the gold carry trade, gold mine forward selling, etc. There is a great deal more knowledge about it now, thanks to GATA's efforts.
Casey's comments to the contrary, anybody who has dug into this issue even marginally has to draw the conclusion that the Fed (and its fellow central banks), together with a few large bullion dealers are playing a dangerous and questionable game aimed at maintaining the price of gold at benign levels. Not that one can blame the bullion dealers for their involvement, as it is no doubt a guaranteed situation for them. As well, one can understand the Fed and other central banks wanting to keep gold under their collective thumbs as a rising gold price has traditionally underlined inflation and busy money printing presses.
Personally, I couldn't care less what the government agencies do, as in the end, gold will have its day. Human understanding is frequently slow in blooming, but once in flower, it usually cannot be denied. I think the gold game is "clear stupid", as it merely exacerbates a growing imbalance.
Gold today reminds me of a stretched elastic band. Someone is going to get a painful "thwack" one way or the other. (g)
Best, Earlie |
