Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: d:oug who wrote (92598)	1/14/2003 5:48:38 AM
From: d:oug	Read Replies (1) \| Respond to of 116778

GATA News - Investment banker acknowledges that central banks collude to manage gold price . Source: groups.yahoo.com group gata message 1379 . Dear Friends of GATA and Gold: . The story from the Sunday Times in South Africa that is appended here is sent to you not for the investment advice it contains but for the observation made by one of the investment bankers quoted, Michael Schroder of Old Mutual Asset Managers. Speaking of prospects for the gold price, Schroder says: "Central banks are the key risk for the downside. Most of the key holders are presently colluding to limit their annual disposals and I would expect them to continue to do so." Of course the key word is "colluding." Schroder's comment is an acknowledgement that central banks work together to manage the gold price. This acknowledges only what should be obvious, for an open conspiracy -- a conspiracy that called a press conference a few years ago -- is what the Washington Agreement was about. Ordinarily exactly how far this collusion has extended, exactly which central banks have been involved directly and indirectly, exactly how they have colluded, and to what purposes exactly would be the stuff of basic journalism, the follow-up to that press conference. There is no more important news story, for this one involves not just public policy; it involves the disposition of all the money in the world and the value of all labor. And yet there are probably not two journalists in the world who will pick up the telephone and call a central banker to pose these questions. Some journalists have the nerve, without making even one such phone call, to assert on their own authority that central banks do nothing contrary to the interest of a free-market price for gold. That's not journalism at all. It's disinformation, which is what most journalism about the gold market seems to be. CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. * * * Bully for bullion Jeremy Thomas Sunday Times, South Africa January 12, 2003 The past five years have provided some happy memories for...