Fighting gold price suppression by central banks and their market rigging
generally would be a lot easier with the help of some of those people who
have great resources and purport to be gold advocates themselves but who
knowingly or unknowingly assist the other side.
One of those people is billionaire Ray Dalio, founder of investment fund
Bridgewater Associates in Connecticut, who turned up in the news again today
in the following report from Kitco News.
* * *
Ray Dalio Increased His Exposure To Gold In Q1 2019
By Neils Christensen
Kitco News, Montreal
Thursday, May 23, 2019
Gold continues to shine for billionaire investor Ray Dalio, who increased
his fund's holdings of the yellow metal during the first quarter of 2019.
The latest SEC filings show that Dalio's fund Bridgewater Associates
bought 118,973 shares of SPDR Gold Shares (NYSE: GLD) in the first three
months of the year, bringing his total position to 4.027 million shares,
valued at more than $491 million.
At the same time, the hedge fund also increased its holdings in iShares
Gold Trust (NYSE: IAU) to 11.6 million, up from 11.3 million reported in the
fourth quarter of 2018. The firm's positon in IAU is valued at $142.7
million. ...
... For the remainder of the report:
https://www.kitco.com/news/2019-05-23/Ray-Dal...s-Exposure-T...
* * *
Since he has made an argument for gold for years now, how can Dalio not
know of the evidence that exchange-traded funds like GLD are used by their
"authorized participant" bullion banks for shorting gold? Just two
months ago the TF Metals Report's Craig Hemke, writing at Sprott Money and
citing the research of GATA consultant Robert Lambourne, noted that the
tonnage increase in gold swaps arranged in February by the Bank for
International Settlements matched almost exactly that month's decline in gold
tonnage at GLD:
http://www.gata.org/node/18937
Your secretary/treasurer commented at the time: "GATA's analysts long
have expressed suspicion that GLD and the silver exchange-traded fund SLV,
both effectively controlled by bullion banks HSBC and JPMorganChase, intimate
agents of central banks, were created specifically to gather the gold of
retail and institutional investors so it could be turned against their
objective of higher prices."
Gold market veterans like Jim Sinclair and James Turk long have warned
gold investors that their gold can be used against them as long as they leave
it in the custody of the banking system, where it can be shorted, loaned,
swapped, hypothecated, and rehypothecated to infinity at the direction of
central banks and their agents, creating vast imaginary supply that
suppresses prices.
Can Dalio really never have heard any of this?
Well, maybe he hasn't, since other fund managers who have expressed belief
in gold's prospects amid unrestrained money creation around the world also
have invested in the monetary metal ETFs. But over the last year GATA has
repeatedly written to Dalio and called his office, trying to arrange a
presentation or at least to provide the documentation of central bank gold
price suppression policy that has been catalogued at GATA's internet site
here:
http://www.gata.org/node/14839
http://www.gata.org/node/18979
We have never gotten a response.
If they put some of their money in the right places, Dalio and a few
like-minded and supremely wealthy investment fund managers, like this one –
http://www.gata.org/node/18889
-- could explode gold price suppression policy in a few weeks.
Yes, if they were suspected of planning as much, they might get a visit
from some government people who would make them an offer they would be
hard-pressed to refuse, like this one:
https://www.youtube.com/watch?v=HCu9vOpwMp0
But at least then the fund managers would have the satisfaction of
learning why their gold investment strategy hasn't been working as it should,
and they could end the resulting embarrassment and move on to investing in
financial instruments that are being rigged upward instead of downward
by the government.
If you have any contact with these supposedly gold-friendly fund managers,
please ask them about this and let them know that GATA would like to pay them
a much more cordial visit.
