Now that even some gold fund managers and newsletter
writers have started to get suspicious about surreptitious intervention in
the gold market by central banks --
-- maybe it's time to try
again to get the support of mainstream gold and silver mining companies.
Yes, these companies are especially vulnerable if
they start complaining about suppression of precious metals prices.
Governments, the instigators of the price suppression, control mining
licenses, royalty payment requirements, and enforcement of environmental
regulations. And as mining is the most capital-intensive business, miners
usually need financing by the biggest investment banks, the agents of central
banks that implement the price suppression scheme.
But there's no point in cowering from
governments and investment banks if you're going to be destroyed anyway, and
governments and investment banks are not invincible. The price suppression
schemes are surreptitious for a reason -- that is, they succeed only through
deception of the markets. They can't succeed in the open, for when markets
are exposed as rigged, people won't trade there anymore. The growing
realization of market rigging explains the worldwide trends toward
acquisition of real gold vaulted outside the Western banking system and
toward development of trade-settlement mechanisms that avoid the U.S. dollar.
Your secretary/treasurer may do well enough with the
functions of the first half of his job but he's not terribly skilled with the
functions of the second half insofar as they include fund-raising. So may we
ask for your help again?
A few mining companies -- mostly smaller exploration
companies -- and a few investment houses have bravely supported GATA over the
years but we shouldn't be hitting them up as often as we do. We should be
seeking the support of other mining companies and investment houses, and they
might consider helping if they heard from their own shareholders and
So if you own shares of stock in precious metals
mining companies or invest in the precious metals via a mutual fund, hedge
fund, or other investment house, please write to their investor relations
office and urge them to consider supporting GATA. You could tell them that
GATA has pretty thoroughly exposed, documented, and litigated against the
gold and silver price suppression schemes, that you've found GATA's work
valuable, that we need and deserve financial assistance, that more
information is available from me at CPowell@GATA.org, and that we're happy to make presentations about our work.
Please write especially if you're invested in any
mining company that is a member of the World Gold Council --
-- as, unfortunately, the council long has declined
to get involved with the issue of gold price suppression, though no issue is
more important to the gold mining industry. You also could write to the
council at email@example.com and urge it too to start supporting GATA financially.
Painful as it was for precious metals investors, the
recent smashdown in the gold and silver markets, so
incongruous and counterintuitive, so obviously intended only to knock prices
down at a strategic moment for the world financial system rather than to maximize
profits on a long position (see the comments by Ross Norman of Sharps Pixley at http://www.gata.org/node/11054),
may have been a Pyrrhic victory for the central banks. For it
gave their game away.
As always it's for GATA to spread the word. We have
plans for that, including speaking roles at conferences in Asia and more
litigation here in the United States. We'll make the most of whatever help
you can give us, either by contacting mining companies and the World Gold
Council or by donating to us directly as described here: