Could gold be the next Libor scandal?
US regulator considering an inquiry into London's
gold and silver markets to check if prices are open to manipulation
http://www.guardian.co.uk/business/2013/mar/13/london-financial-sector-gold-market
Central Banker Mark Carney - Bilderberg/Goldman
Sachs take over Britain too now.....
http://www.911forum.org.uk/board/viewtopic.php?p=164181#164181
Talking Gold Manipulation with GATA
Wednesday April 3, 2013, 4:30am PDT
By Michelle Smith - Exclusive to Gold Investing News
GATA, formally known as the Gold Anti-Trust
Action Committee, insists that a gold cartel is
suppressing metal prices and is set on exposing that group’s secret activities.
Gold Investing News (GIN) contacted Chris Powell,
treasurer, secretary and director of GATA, and
had an extensive discussion about what is going on in the gold market.
http://goldinvestingnews.com/33634/gold-price-manipulation-gata-central-banks-united-states-federal-reserve.html
GIN: Can you outline how the gold manipulation scheme works?
CP: Sure. Central banks that want to support
their currencies — and support the US dollar in
particular — want to control interest rates and
government bond prices, so they intervene in the
gold market by selling their gold outright, by
leasing it into the market through bullion banks
and the Bank for International Settlements (BIS)
and by swapping it to other central banks that
will be doing these sales or leases. They also
sell gold options and futures contracts through
the BIS. They do a lot of shorting of gold to control the price.
GIN: Who is involved in this manipulation scheme?
CP: I think all the major western central banks
are at least aware of it and are cooperating, if
not participating. I think all of the western
central banks that were identified openly as
being part of the London gold pool in the 1960s
are certainly cooperating with it. Though I think
the major ones lately have been the US, the Bank
of England and the Bundesbank. But I think any
central bank that has been identified as having
swapped or leased gold is a participant.
GIN: So, you’d say that the gold cartel is composed of central banks?
CP: It is a central bank scheme, but they operate
very often through agents like bullion banks,
JPMorgan Chase & Company (NYSE:JPM) and HSBC. The
BIS in Basel, Switzerland conducts much of the
gold trading for the western central banks. So
certainly the BIS is an agent as much as the bullion banks are.
GIN: Who does gold manipulation affect? Is the
negative impact just limited to gold investors?
CP: Oh no. It’s the destruction of all free
markets. It’s the destruction of transparency in
government. Certainly gold investors and mining
companies and developing countries that rely on
the production of commodities for their livelihood are terribly harmed.
But from my standpoint as an American citizen and
a journalist who wants transparent government, I
think the greatest casualties are free markets
and accountability in government. This scheme is
a matter of rigging markets surreptitiously, and
when you rig markets, you don’t have free markets
anymore. And when you lose free markets, you lose
your competitive economy as well as your
democracy when such major government action is undertaken in secret.
GIN: Is gold manipulation done mostly through leases, swaps and selling gold?
CP: Not only gold, but futures and options as
well. They are hugely capitalized operations, so
they have very deep pockets. The can probably
sell gold futures and options to an extent that
no buyer can compete with them. And most buyers
will be driven out of the market by the amount of
imaginary gold that central banks can sell
because they have the ability to create money in infinite amounts.
GIN: How do the bullion banks and the futures market factor in?
CP: Because central banks trade through them,
they are acting as agents. Whenever there is any
crisis in the financial markets, where do the Fed
and the Treasury go to try to put together a
bailout? They start with JPMorgan Chase.
The use of New York investment banks by the US
government, particularly JPMorgan Chase, that’s
public record. I’m sure if you asked for access
to all the communications between the Federal
Reserve and the US Treasury and JPMorgan Chase,
you would get a lot of interesting information —
if it was made available to you.
But again, these are questions that are best put
to central banks. I am only a derivative source
of information. I can’t speak for the Fed and the
Treasury and the Bank of England. I can show you
the exchanges we’ve had with them. I can show you
what has come out as a result of our suing the
Fed. But we are not the possessors of the
original information here. We are not the original sources.
I have always marveled that we should be
questioned at GATA before any questions are put
to the central banks about their policy in the
gold market. I think if you pose questions [to
the central banks] that are specific enough, you
will find pretty quickly that the door is slammed in your face.
GIN: You said the motive for gold manipulation is
to control interest rates and bond rates?
CP: If you read the academic paper on GATA’s
internet site called Gibson’s Paradox and the
Gold Standard, that paper analyzes the historical
relationship between gold and real interest
rates. If you read it, I think you will indeed
find that there is a historic relationship. And
indeed, gold is pretty much by definition a
determinant of currency value and interest rates
— and by extension, government bond prices.
Gold is a terribly important determinant of the
value of other financial instruments. We have
collected a lot of Department of State
memorandums, CIA memos and documents throughout
history about the importance the US government
places on controlling the gold price. Many
central bankers have made statements signifying
that the gold price is of great concern.
Governments have always sought to control the
gold price and that’s what the gold standard was really about.
--
+44 (0)7786 952037
Twitter: @TonyGosling http://twitter.com/tonygosling
http://groups.google.com/group/uk-911-truth
http://www.youtube.com/user/PublicEnquiry
http://groups.yahoo.com/group/Diggers350/
http://www.reinvestigate911.org/
http://www.thisweek.org.uk/
http://www.911forum.org.uk/
http://groups.google.com/group/uk-911-truth
uk-911-truth+subscr...@googlegroups.com
"Capitalism is institutionalised bribery."
_________________
www.abolishwar.org.uk
www.globalresearch.ca
www.public-interest.co.uk
www.radio4all.net/index.php/series/Bristol+Broadband+Co-operative
www.facebook.com/media/set/?set=a.1407615751783.2051663.1274106225&l=90330c0ba5&type=1
<http://utangente.free.fr/2003/media2003.pdf>http://utangente.free.fr/2003/media2003.pdf
"The maintenance of secrets acts like a psychic
poison which alienates the possessor from the community" Carl Jung
<https://217.72.179.7/members/www.bilderberg.org/phpBB2/>https://217.72.179.7/members/www.bilderberg.org/phpBB2/
Fear not therefore: for there is nothing covered
that shall not be revealed; and nothing hid that
shall not be made known. What I tell you in
darkness, that speak ye in the light and what ye
hear in the ear, that preach ye upon the housetops. Matthew 10:26-27
Die Pride and Envie; Flesh, take the poor's advice.
Covetousnesse be gon: Come, Truth and Love arise.
Patience take the Crown; throw Anger out of dores:
Cast out Hypocrisie and Lust, which follows whores:
Then England sit in rest; Thy sorrows will have end;
Thy Sons will live in peace, and each will be a friend.
http://tinyurl.com/6ct7zh6
--
--
Please consider seriously the reason why these elite institutions are not discussed in the mainstream press despite the immense financial and political power they wield?
There are sick and evil occultists running the Western World. They are power mad lunatics like something from a kids cartoon with their fingers on the nuclear button! Armageddon is closer than you thought. Only God can save our souls from their clutches, at least that's my considered opinion - Tony
You received this message because you are subscribed to the Google Groups
"PEPIS" group. Please feel free to forward it to anyone who might be interested
particularly your political representatives, journalists and spiritual leaders/dudes.
To post to this group, send email to pepis@googlegroups.com
To unsubscribe from this group, send email to pepis-unsubscr...@googlegroups.com
For more options, visit this group at http://groups.google.com/group/pepis?hl=en
---
You received this message because you are subscribed to the Google Groups "PEPIS" group.
To unsubscribe from this group and stop receiving emails from it, send an email
to pepis+unsubscr...@googlegroups.com.
For more options, visit https://groups.google.com/groups/opt_out.
