At the opening of GATA's Gold Rush 21 conference in Dawson City, Yukon
Territory, back in August 2005, our friend, South Africa's "Mister
Gold," the late Peter George, was already tired of the brazenness of
gold price suppression.
"In the last 10 years," George said, "the central banks have
effectively shown that when there is a real crisis, gold actually goes down
-- and it's so blatant, it's a joke":
http://www.gata.org/node/20
Five years ago yesterday your secretary/treasurer wrote:
"If the Northern Hemisphere was destroyed in a nuclear war, the
Federal Reserve, JPMorganChase, and HSBC would get some brokers to Sydney,
Rio de Janeiro, and Johannesburg to sell gold futures massively and drive the
price down by at least 5 percent.
"Kitco market analyst Jon Nadler would crawl out from the rubble and
opine to the cockroaches that the gold price had fallen because so many gold
buyers had been killed, as he always had predicted would happen.
"CPM Group's Jeff Christian would telephone New Zealand not to worry
because he was flying down with reams of gold-colored paper that would work
just as well in Wellington as it did in New York as long as nobody asked what
was behind it.
"And the World Gold Council would console itself with whatever
high-fashion models could be found wearing nose rings in French Polynesia.
"But with London and New York razed, at least we'd be spared more
contrived rationalizations about the strange market action from the Financial
Times and Wall Street Journal":
http://www.gata.org/node/11426
As often said by bus driver Ralph Kramden of "The Honeymooners,"
played by Jackie Gleason back in the 1950s, "One of these days, Alice --
to the moon!":
https://www.youtube.com/watch?v=98qw86DsdZ0
But, probably, first the scales will have to fall from the eyes of some of
our betters in financial market analysis and journalism or they'll have to
grow backbones and acknowledge the obvious.
