Sunday, August 14, 2016

Gold price suppression: Nothing new under the sun

January 31, 2010 by · Leave a Comment 

3p ET Sunday, January 31, 2010

Dear Friend of GATA and Gold:

The anonymous blogger FOFOA — Friend of Friend of Another, a name referring to the famous “Another” postings at the old USAGold.com Forum (http://www.usagold.com/goldtrail/archives/another1.html) — yesterday posted a wonderful account of the London Gold Pool of the 1960s.

t shows how gold dishoarding by central banks used to be frankly acknowledged as currency market manipulation.

It shows how those holding a short position in a rising market can still make vast amounts when they know in advance the moments of government intervention, circumstances that apply today to the London bullion market and the gold futures market at the New York Commodity Exchange.

It credits GATA for documenting the more recent developments in Western central banking’s war on gold.

And it may prompt a little amazement that some supposed market analysts still disparage suggestions that the gold market does not trade freely but rather is the playground of large official forces that are actually terrified that it someday might trade freely, terrified even that the market someday might simply be talked and reported about candidly.

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