In an interview posted today at Arabian Money, the CEO of London bullion
dealer Sharps Pixley, Ross Norman, makes comments that Arabian Money
construes to mean: "Somebody big is sitting on the gold price":
http://www.arabianmoney.net/gold-silver/2015/...big-is-sitti...
That's not a direct quote from Norman's interview. It's Arabian Money's
characterization of his remarks, placed in the interview's headline, and seems
to be drawn from this quotation: "'Gold is looking like the dog that
just did not bark -- but not uniquely so. Most safe-haven assets are looking
distinctly lackluster, including the VIX index. Either 5,000 years of
safe-haven buying has just become bunk, or there is a desire to portray what
is evidently a financial and economic crisis as nothing to be concerned
about."
But Norman can't be displeased with Arabian Money's characterization, since
at this hour Sharps Pixley is leading its own Internet site with the same
headline and a link to the interview:
http://www.sharpspixley.com/
Since Sharps Pixley and Norman are -- or at least long have been --
prominent and fully respectable members of the London bullion banking
establishment, with offices at Berkeley Square in exclusive Mayfair, Norman's
remarks are stunning, even if many dreary years of anomalous behavior in the
gold market have been required to provoke them.
So is it possible that obliviousness or disingenuousness are no longer
prerequisites for membership in that establishment? Might, a few centuries
from now, even the supposed representative of the gold mining industry and
gold investors, the World Gold Council, also notice and acknowledge what
Norman has just noticed and acknowledged, thereby ending the council's daily
re-enactment of the "nothing to see here" scene from "The
Naked Gun"?:
https://www.youtube.com/watch?v=rSjK2Oqrgic
Just imagine what might come of broader acknowledgment that "somebody
big is sitting on the gold price."
Eventually others in the gold business might wonder: Exactly who is
big enough to sit on the gold price so successfully? Who has done it before
and would have such enormous resources and such compelling interest to do so
again? Might central banks have anything to do with it? Should someone ask
them?
(Documentation relevant to such suspicions can be found at GATA's Internet
site here: target="_blank" http://www.gata.org/node/14839.)
After all, there's a central bank -- the Bank of England -- only 3 miles
east of Berkeley Square and less than a mile east of the World Gold Council's
luxurious offices at Old Bailey. Someone could always knock on the door.
Maybe the major news organizations headquartered in London could be
induced to ask as well, on the possibility that the gold market might have
implications for other financial markets -- implications even for the
distribution of power throughout the world.
In that case Norman's interview could turn out to be the most momentous
event in Berkeley Square since the nightingale chirped at the songwriter and
his lady friend:
https://www.youtube.com/watch?v=xTeiYN_Vq6E
