Dear Friend of GATA and Gold:
Even though U.S. Treasury Secretary
Henry Paulson was quoted yesterday, as in the Bloomberg News story appended
here, as saying that the U.S. government would use "'all the tools at
our disposal' to protect the financial markets". ...
And even though the U.S. government
and most Western central banks are now desperately and openly rigging the
currency markets with their swap agreements and the stock markets with short
sales regulations and government-brokered mergers. ...
And even though Western central banks
have been openly selling, leasing, and swapping gold for years now, often at
strategic moments. ...
Please remember that we have the
solemn assurances of Kitco Senior Analyst Jon Nadler, Resource Investor's Tim
Wood, CPM Group Managing Director Jeff Christian, market analyst Paul van
Eeden, and a few other worthies that government is not -- repeat, NOT --
intervening in the gold and silver markets in ANY way. Gold and silver are
merely incidental commodities -- NOT what they used to be, money, and not
even potentially money -- and their prices are of no more interest to
governments than the price of seaweed.
That is, when Secretary Paulson said
he would protect the financial markets with "all the tools at our
disposal," he meant "ALMOST all tools at our disposal," and
would have said so if only Nadler, Wood, Christian, or van Eeden had been
present to remind him.
And exactly what does Secretary
Paulson mean to protect the financial markets against?
Why, THEMSELVES, of course -- the
threat that an actual market price, rather than a government-approved price,
might develop somewhere in the fantastic, overarching illusion that crony
capitalism and central banking have made of what used to be markets. These
days, if you want a market, you're stuck with Ebay -- at least until that too
Secretary / Treasurer
Gold Anti-Trust Action Committee
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