- To be send to journalists you believe are worth while contacting
- Use at will
- Change at will
- If you see any mistakes, contact me and I will have a look at it
If you believe the gold & silver price finding mechanisms are like corn, wheat and copper prices, think again.
Gold = money and the cornerstone of the western world’s monetary policy. Gold is difficult to mine and all the gold, ever mind in the history of the world is app 160.000 tons. This is a block of 20x20x20 meter. Gold cannot be printed. You might have heard from the gold standard. Politicians hate it. Why? Because they need to promise more and more money to their voters each year to get re-elected. A gold standard would keep them back. Politicians do not want to lose control over the money making mechanism. The banker is turn is looking to borrow as much money as possible to politicians as this money is risk-free, underwritten by you and me.
So control is important but also the strength of your currency. Hence the “Strong Dollar Policy”. A strong Dollar means a weak gold price. A weak Dollar means a high gold price. In order to promote this Strong Dollar Policy the US Treasury and the Fed started app 15 years ago secretly selling their gold in order to keep the gold price down. After all: a low gold price means the perception of a strong dollar. They sold physical gold from their vaults at a low price to the Wall street Banks who in turn used the gold to suppress the gold price (and made in the meantime a handsome profit). There are more way and means to suppress the gold price:
· use paper gold (ETF’s), a paper gold claim issued by mostly banks, leveraged 100:1, to sell as physical gold, thereby suppressing the price even more.
· Make sure there is no transparency
· Use misinformation via for instance the IMF: A trader (Sprott from Canada) recently asked the IMF, who claims to have physical gold, to purchase their gold. The IMF declined the offer for no reason and it is believed the IMF does not have gold at all but only in a digital form, a book entry. Every time the news gets bad, the IMF surprisingly announces to sell gold.
An interesting fact is also that Fort Knox has not been independently audited since 1933 and nobody knows what is going on in the vaults of the US.
It is claimed the gold and silver price should be much higher @ app US$ 2300/troy ounce (=31,1035 gr), which is a reasonable inflation adjusted price.
2 weeks ago, a precious metal dealer/whistle blower, Andrew Maguire from the UK, testified before the CTFC, a watch dog like the SEC, that he knows these specific malicious JP Morgan precious metal traders personally. He also testified he sent emails to the CTFC describing on several occasions what was going to happen with the silver price on a certain time and certain date. What do you need more to expose criminals? The CTFC answered with a mere “thank you”.
There are several factors to this story:
· Manipulating gold prices gives a false impression on the economy. Gold has been for ages “the canary in the gold mine”. Something wrong with the economy? Gold price up! Everything fine: gold price down. Unfortunately this mechanism has been switched off.
· The longer this scam takes, the bigger the final adjustment or crash.
· Gold needs a “normal” price and not a suppressed one, so mines can pay normal wages, security, health programs, etc.
· The US government, Fed, other Central Banks and Wall street banks are behind this scheme/scam. Not for you and me, but for themselves and their system.
· Big, bigger, biggest. The scam that is going to dwarf the Madoff Ponzi scheme. People will start demanding physical delivery once they understand there is no gold at all. They call it “Musical Chairs” and only one guy who owns physical gold will sleep well. The rest (99) will be chasing the bankers to the hills.
It is very important one understands the properties of gold and the gold story. Gold has been money for 5000 years and people from all over the world fled into gold and silver once they noticed the politicians and bankers were screwing them. Note also that almost all the gold that is mined is still there: it hardly disappears into the manufacturing process, like copper or other commodities. The now invented ETF’s or a bank manufactured paper gold are claims with ALMOST NO physical gold behind it. Central Banks are now Alchemists: they invented “make believe” gold. Which in turn they can sell as physical gold again to suppress the price. It is a scam. Also, the gold price is NOT AT ALL affected by the fact that gold is scarce: the price is set by a traders on Wall street dealing in PAPER, not the physical metal.
GATA (Gold Anti Trust Action Committee: www.gata.org ) has been trying to expose this scheme for 10 years now and it is my opinion it deserves attention. They have been laughed as conspiracy nuts, but not anymore. The whistle blower story broke last week in the New York Post. Especially for South Africa, as a gold producing country, this story should be important. WE ARE MINING MONEY!
A summary of GATA's work:
2) A compendium of much of the documentation GATA has collected:
3) The full documentation section of GATA's Internet site:
4) Today's New York Post story, showing that mainstream news organizations are starting to take interest in GATA's work:
Australia’s biggest newpaper, The Herald Sun: http://www.gata.org/files/HeraldSun-Beveridge-04-04-2010.pdf
Thank you for your attention and please keep me informed on progress.