Gold: Russia again takes note of GATA's work against gold market rigging
In June 2004 the deputy chairman of the Russian central bank, the Bank of Russia, speaking to a conference of the London Bullion Market Association in Moscow, provocatively mentioned GATA's complaint of manipulation of the gold market:
gata.org
Two months ago, in an essay published in several Russian newspapers headlined "Inflation as an Economic Phenomenon," the lawyer, economist, and historian Andrey Bykov praised GATA's work, noted the suppression of the gold price via the abrupt dumping of gold futures contracts in the United States, and urged the Russian government to protect the country's social-insurance fund against inflation by purchasing physical as opposed to "paper" gold.
In his essay, Bykov, who attended GATA's Gold Rush 21 conference in Dawson City, Yukon Territory, Canada, in 2005, likened gold price suppression to a scheme to monopolize gold. He wrote: "The monopolistic owner of the world's gold would be able to set the price of the world's natural wealth as he sees fit."
A Russian newspaper copy of Bykov's essay is posted in PDF format at GATA's internet site here:
gata.org
An E nglish translation of the essay is posted in PDF format at GATA's internet site here:
gata.org
Chris Powell, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org |
