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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (95113)	10/1/2020 7:21:25 PM
From: Goose94	Respond to of 203375

Memory Makes Money

To: Goose94 who wrote (95113)	10/2/2020 11:39:31 AM
From: Goose94	Read Replies (1) \| Respond to of 203375

Gold: OMG! Kitco News lets a fund manager admit that gold's 'conspiracy theorists' were right What's more remarkable -- that a respected New York fund manager considers JPMorganChase's confession to gold market rigging to be vindication for those who had been dismissed as "conspiracy theorists," or that Kitco News reports at length what he says? That daily double comes in today as David Lin of Kitco News interviews Will Rhind, CEO of GraniteShares, a sponsor of exchange-traded funds. Rhind remarks: "There have always been these kinds of mutterings of manipulation of the gold market. A lot of people that were talking about that were really written off as fringe or conspiracy theorists -- with an extreme view -- and those people have been right. This is really quite an extraordinary situation where one of the largest banks in the world had to pay a monumental fine." Of course GATA's longstanding complaint about manipulation of the monetary metals markets goes far beyond the "spoofing" now admitted by JPMorganChase and other bullion banks. GATA's complaint is that suppression of monetary metals prices has been a primary policy of modern central banking for decades, sometimes conducted in the open, as it was during the era of the London Gold Pool in the 1960s, more recently conducted largely surreptitiously through intermediaries and concentrating on the futures markets. A summary of some major documentation of this policy is posted at GATA's internet site here: gata.org More documentation is here: gata.org The prosecutions of the bullion banks and their confessions to "spoofing" don't come close to the impact of the comprehensive official-sector manipulation. But the official agents of the Federal Reserve Bank of New York, the primary dealers in U.S. government securities -- newyorkfed.org -- include not only JPMorganChase and Bank of Nova Scotia, whose Scotia Mocatta division also has confessed to gold market rigging, but also other bullion banks -- Deutsche Bank, Goldman Sachs, HSBC, Citigroup, Morgan Stanley, and Union Bank of Switzerland. So maybe investment house and journalistic curiosity about gold market rigging will start extending beyond bullion banks to the central banks themselves. Such journalism would not have to start with any heavy lifting, much of that work already having been done by GATA and the dedicated researchers whose work GATA has publicized. Any financial journalist might get an interesting story just by posing a simple question to the U.S. Treasury Department, Federal Reserve, and Commodity Futures Trading Commission -- Does the commission have jurisdiction over manipulative futures trading undertaken by or for the U.S. government, or is such trading authorized by the Gold Exchange Act of 1934 or other legislation? -- and then report all the refusals to answer. Yes, such questions probably will get any financial journalist crossed off the invitation list for the Christmas parties at the bullion banks and the New York Fed. But any journalist who is respectable isn't really a journalist at all. The Kitco News interview with GraniteShares CEO Rhind is 13 minutes long. Only the first four minutes and 30 seconds involve gold market manipulation. It's posted here: kitco.com Chris Powell, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. CPowell@GATA.org