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Manipulation, Missing and Fractional Gold
Top rated articles
Chris Powell - GATA
Barrick and Newmont reported to remain eager for merger
By Euan Rocha Reuters Monday, April 21, 2014 TORONTO -- Talks between Barrick Gold Corp and Newmont Mining Corp about a potential merger have hit a snag, but sources close to the situation say the companies remain keen to reach a deal and discussions are likely to resume. The talks had been on for a few weeks, and the two sides had broadly agreed to a transaction under which Toronto-based Barrick would acquire Denver-based Newmont in an all-stock deal, said one source close to the matter. The so
Monday, April 21, 2014
Chris Powell - GATA
TF Metals Report: The empty vaults of London
JPMorganChase traded its short position in gold for a long corner not to profit by squeezing the market but to keep unloading metal to manage the price, the TF Metals Report's Turd Ferguson writes today. The exchange-traded fund GLD is still being drained to supply Asia with metal, Ferguson adds, but the supply seems tighter than ever. Ferguson's commentary is headlined "The Empty Vaults of London" and it's posted at the TF Metals Report's Internet site here: http://www.tfmetalsreport.com/podcas
Monday, April 21, 2014
Chris Powell - GATA
Holter muses on China's silver scheme; Barron doubts new raid on gold ETFs
Market analyst Bill Holter, who writes for GATA Chairman Bill Murphy's LeMetropole Cafe and for the Miles Franklin coin and bullion dealer Internet site, speculates, as silver market analyst Ted Butler often has done, that China is the big short in silver. But more so Holter speculates that China is aggressively using its silver short position to yank the gold market down so that it might acquire more gold cheaply. Holter's commentary is headlined "My Back and Forth Yesterday with John Embry" an
Friday, April 18, 2014
Chris Powell - GATA
U.S. recruits satellites to compensate for Fed's 'tapering,' Roberts tells KWN
Interviewed by King World News, former Assistant U.S. Treasury Secretary Paul Craig Roberts speculates that the U.S. government has recruited its satellite countries, like Belgium, to compensate for the "tapering" being done with purchases of U.S. Treasuries by the Federal Reserve: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/4/16_Pa... Also at KWN, Singapore-based gold fund manager Grant Williams endorses the work of fund managers and economists Paul Brodsky and Lee Quainta
Thursday, April 17, 2014
Chris Powell - GATA
Zero Hedge: Gold futures halted again on latest furious slamdown
From Zero Hedge, New York Tuesday, April 15, 2014 It seems the two words "fiduciary duty" are strangely missing from the dictionary of the new normal's asset management community. This morning, shortly before 8:27 a.m. ET, someone decided that it was the perfect time to dump thousands of gold futures contracts worth over half a billion dollars notional. This smashed gold futures down over $12 instantaneously, breaking below the 200-day moving averaged and triggering the futures exchange to halt
Wednesday, April 16, 2014
Chris Powell - GATA
China gold demand seen rising 25% by 2017 as buyers get wealthier
By Nicholas Larkin Bloomberg News Tuesday, April 15, 2014 LONDON -- Gold demand in China, which overtook India as the largest user last year, will rise about 25 percent in the next four years as an increasing population gets wealthier, according to the World Gold Council. Consumer demand will expand to at least 1,350 metric tons by 2017, the London-based council said in a report today. Growth may be limited this year after 2013's price decline spurred consumers to do more buying last year, it sa
Tuesday, April 15, 2014
Chris Powell - GATA
Economists notwithstanding, Indians know how to put their gold to work
By Julie McCarthy National Public Radio, Washington Monday, April 14, 2014 http://www.npr.org/blogs/parallels/2014/04/14/301412384/a-gold-obsession... It's indestructible. It's fungible. It's beautiful. And for Indians, gold -- whether it's 18-, 22-, or 24-carat -- is semi-sacred. The late distinguished Indian economist I.G. Patel observed, "In prosperity as in the hour of need, the thoughts of most Indians turn to gold." No marriage takes place without gold ornaments presented to the bride. Eve
Monday, April 14, 2014
Chris Powell - GATA
Tocqueville's Hathaway on why gold is likely to rise
In commentary posted at King World News, the Tocqueville Gold Fund's John Hathaway makes a comprehensive case for higher gold prices. "No mining company management in its right mind would commit to a program of mine construction at current prices," Hathaway writes. "Therefore, we believe that mine supply will shrink in the years ahead, especially after 2015. Given the lead times involved in new mine construction and even with a moderately rising trend in gold prices, supply could be constrained
Saturday, April 12, 2014
Chris Powell - GATA
U.S. bristles at China's infringement of its monopoly on currency market rigging
By Robin Harding and Josh Noble Financial Times, London Tuesday, April 8, 2014 The US has warned Beijing not to go back to manipulating its currency, following a sharp depreciation of the renminbi since the start of 2014. "If the recent currency weakness signals a change in China's policy away from allowing adjustment and moving toward a market-determined exchange rate, that would raise serious concerns," said a senior Treasury official ahead of this week's IMF, World Bank, and G20 meetings in W
Tuesday, April 08, 2014
Chris Powell - GATA
J.S. Kim: High-frequency trading's bigger offense is gold and silver price suppression
Financial letter writer J.S. Kim argues today that the bigger offense and objective of high-frequency trading are suppression of gold and silver prices through "quote stuffing" and spoof bids, a complaint in which he joins GATA. Kim's commentary is headlined "The One Revelation about HFT Programs that Truly Scares Bankers (Hint: It's About Gold and Silver)" and it's posted at his Internet site, Smart Knowledge U, here: https://www.smartknowledgeu.com/blog/2014/04/the-one-revelation-about-hf...
Monday, April 07, 2014
Chris Powell - GATA
Reuters interviews Rickards about gold's ascent after 'The Death of Money'
Fund manager and geopolitical strategist James G. Rickards was interviewed by Rob Cox of Reuters TV this week about his new book, "The Death of Money," and covers his belief that gold may be recalled to a formal role in the international financial system at a much higher price. The interview is 9 minutes long and is posted at the Reuters TV Internet site here: http://www.reuters.com/video/2014/04/02/reuters-tv-the-exchange-the-unce...
Thursday, April 03, 2014
Chris Powell - GATA
TF Metals Report: Russia mulls conducting trade only in rubles
The TF Metals Report's Turd Ferguson notes growing discussion in Russia of conducting international trade only in rubles: http://www.tfmetalsreport.com/blog/5621/putin-plays-golden-card
Wednesday, April 02, 2014
Chris Powell - GATA
Zero Hedge: Pushing gold to zero is the core mandate of central bankers everywhere
Zero Hedge nails it again today in commentary headlined "12 Largest Banks Sued by Public Retirement Funds for 'Conspiring to Rig Global FX Markets'": "Of course, the rigging of FX markets, disclosed hot on the heels that Libor too was massively manipulated (to the delight of 'conspiracy theorists' everywhere) is by now well known. But the punch line is not that FX is rigged and as a result virtually all carbon-based traders are now gone, leaving the FX market at the mercy of Virtu and GETCO algo
Wednesday, April 02, 2014
Chris Powell - GATA
Vietnam to ban gold bullion at country's borders
From Tuoitre News Ho Chi Minh City, Vietnam Tuesday, April 1, 2014 Local and foreign individuals will be prohibited from carrying gold bullion and gold material when they enter or leave Vietnam, except for immigration purposes, starting May 15, according to a new circular recently issued by the country's central bank. The tightened rule is applicable to people who use passports or other approved travel documents that permit them to cross borders legally on their entry and exit, the State Bank of
Wednesday, April 02, 2014
Chris Powell - GATA
World Gold Council plans another seminar for people who don't think about gold
Contradicting the repeated assertions of a member of its Board of Directors, Franco-Nevada Chairman Pierre Lassonde, that central bankers "spend no time whatsoever thinking about gold" -- http://www.gata.org/node/13683 http://www.gata.org/node/13685 http://www.gata.org/node/13105 http://www.kitco.com/news/video/show/GSA-Investor-Day-2014/558/2014-02-2... -- the World Gold Council is planning another installment of its Executive Program in Gold Reserves Management in association with the Universi
Wednesday, April 02, 2014
Chris Powell - GATA
Roberts and Kranzler: Fed stomps gold harder to support dollar at key level
In recent weeks the Federal Reserve has been especially aggressive with gold price suppression through naked short selling of futures contracts to support the U.S. dollar at it hovers at a crucial level on the international currency index, former Assistant U.S. Treasury Secretary Paul Craig Roberts and market analyst Dave Kranzler write. Their commentary is headlined "The Federal Reserve Has No Integrity" and it's posted at Roberts' Internet site here: http://www.paulcraigroberts.org/2014/03/31/
Tuesday, April 01, 2014
Chris Powell - GATA
Swiss, UK watchdogs step up scrutiny on forex traders
By Caroline Copley and Patrick Graham Reuters Monday, March 31, 2014 Swiss and British regulators stepped up their scrutiny of alleged manipulation of foreign exchange markets on Monday, as watchdogs take a closer look at whether banks have a tight enough grip on the behavior of their traders. Switzerland's competition commission WEKO said it opened an investigation into several Swiss, British and U.S. banks over potential collusion to manipulate currency rates. The UK Financial Conduct Authorit
Monday, March 31, 2014
Chris Powell - GATA
Gold manipulation is now so obvious it should embarrass the manipulators, Rickards says
Fund manager, lawyer, geopolitical strategist, and author, the ubiquitious James G. Rickards, tells Sprott Money News this week that a forthcoming statistical study of prices on the New York Commodities Exchange demonstrates overwhelmingly that the gold price is manipulated and suppressed. As described by Rickards, the study sounds similar to the one done by the late GATA board member Adrian Douglas in 2010: http://www.gata.org/node/8918 "If I were running the manipulation," Rickards says, "I wo
Friday, March 28, 2014
Chris Powell - GATA
Fed's insolvency signals last days of the 'money bubble,' Turk says
The Federal Reserve is holding on its books many assets of little actual value compared to their nominal value, GoldMoney founder and GATA consultant tells King World news today. It's so bad, Turk says, that the Fed's ratio of liabilities to assets is 73 to 1. This ratio of insolvency, Turk says, is a manifestation of the last days of the "money bubble." His interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/3/17_Th...
Tuesday, March 18, 2014
Chris Powell - GATA
Embry notes counterintuitive action in gold amid Ukraine's disintegration
Sprott Asset Management's John Embry today remarks to King World News about the counterintuitive trading in the gold market as international tensions rise over Ukraine's disintegration: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/3/17_We...
Monday, March 17, 2014
Chris Powell - GATA
Gold control is more powerful than military force, GATA secretary tells KWN
Interviewed today by King World News, your secretary/treasurer discusses the suppression of the story about the likely transfer of Ukraine's gold reserve to the United States. Control of the gold market, your secretary/treasurer adds, is a much more powerful mechanism of controlling the world than military force. The interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/3/16_Th...
Sunday, March 16, 2014
Chris Powell - GATA
Koos Jansen: New York Fed lying about gold storage
Gold researcher and GATA consultant Koos Jansen today disputes the New York Federal Reserve Bank's assertion that it returns to gold depositors the same gold bars they deposited and does this because "gold deposits are not considered fungible." But of course it appears that the gold recently recovered from the New York Fed by the German Bundesbank had been melted and recast for some reason, and Jansen notes that the Netherlands central bank has asserted that in gold leasing by central banks the
Sunday, March 16, 2014
Chris Powell - GATA
  Like New York Fed, State refuses comment on transfer of Ukrainian gold
After two days of hectoring the U.S. State Department by telephone and e-mail, and doing so as a newspaper editor, your secretary/treasurer today recruited his U.S. representative's office to try to extract from State an answer to the question of whether the U.S. government has taken custody of Ukraine's gold reserves, as suggested by news reports like the one cited here: http://www.gata.org/node/13754 At last at noon today came this cordial reply from Katherine Pfaff in State's press office: "W
Wednesday, March 12, 2014
Chris Powell - GATA
Gold will survive bursting of the currency bubble, GoldMoney's Macleod says
GoldMoney research director Alasdair Macleod last week made a presentation to the Brazilian Chamber of Commerce in London about trends in the gold market, covering the long history of central bank intervention, the evidence that Western central bank gold has run out, and Asia's recent acquisition of huge volumes of gold on the eve of the likely bursting of the currency bubble. Macleod's presentation is 21 minutes long and is posted at You Tube here: https://www.youtube.com/watch?v=lVFNEChSHkw&fe
Wednesday, March 12, 2014
Chris Powell - GATA
New York Fed on Ukrainian gold reserves: Don't ask us
The Federal Reserve Bank of New York today responded to GATA's inquiry last night, prompted by reports such as this one from Ukraine -- http://www.gata.org/node/13754 -- as to whether it was taking custody of Ukraine's gold reserves. A spokesman for the New York Fed said simply: "Any inquiry regarding gold accounts should be directed to the account holder. You may want to contact the National Bank of Ukraine to discuss this report." GATA's similar inquiry of last night to the U.S. State Departme
Tuesday, March 11, 2014
Chris Powell - GATA
Black swans are all over the place now, Embry tells King World News
Sprott Asset Management's John Embry tonight tells King World News that "black swans" are popping up all over the place, quite without the world's realization of the role of Western central banks in keeping the gold price down: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/3/4_Ukr...
Tuesday, March 04, 2014
Jason Hamlin - Gold Stock Bull
Eric Sprott on Gold Price Manipulation
The following interview with Eric Sprott was conducted by Tekoa Da Silva. TD: Eric, you said precious metals reached an inflection point about six weeks ago. What signs are you seeing now to back your conviction? ES: The most interesting fact is that the equivalent to the SEC in Germany, BaFin, came out on January 17th saying that precious metals are possibly manipulated worse than LIBOR[1]. That word “worse” is a very significant in my mind. When you think about the chronology of events, BaFin
Tuesday, March 04, 2014
Chris Powell - GATA
Get ready for a disorderly market in gold, von Greyerz tells KWN
Swiss gold fund manager Egon von Greyerz today tells King World News that he doubts that Western central banks have any gold left and that when they run out there will be panic and disorder in the gold market. "For the privileged few there is still time to buy physical gold and protect wealth," von Greyerz says, "but that time is running out." An excerpt from the interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/3/2_The...
Monday, March 03, 2014
Chris Powell - GATA
  Mt. Gox files for bankruptcy, blames hackers for losses
By Yoshifumi Takemoto and Sophie Knight Reuters Friday, February 28, 2014 TOKYO -- Mt. Gox, once the world's biggest bitcoin exchange, filed for bankruptcy protection in Japan on Friday, saying it may have lost nearly half a billion dollars worth of the virtual coins due to hacking into its faulty computer system. ... ... For the full story: http://www.reuters.com/article/2014/02/28/us-bitcoin-mtgox-bankruptcy-id... ADVERTISEMENT Buy metals at GoldMoney and enjoy international storage GoldMone
Friday, February 28, 2014
Chris Powell - GATA
Free Lauri Love! Free Lauri Love!
By Jonathan Stempel Reuters Thursday, February 27, 2014 NEW YORK -- A British man has been charged with hacking into computer servers belonging to the U.S. Federal Reserve, and then widely disclosing personal information of people who use them. Thursday's charges against the man, Lauri Love, were announced four months after he was arrested in England, and accused by U.S. and British authorities of hacking into various U.S. government computer systems, including those run by the military. Accordi
Friday, February 28, 2014

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