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For years my friends over at the Gold Anti-Trust Action Committee
(GATA) have been claiming that the World Gold Council (WGC) is a puppet
organization funded by the very banking cabal that suppresses the price of
gold. In the early days of this 10 year old gold bull run most people brushed
off GATA's comments as coming from people who wore "tin foil hats"
and saw conspiracies in everything.
But nobody really gave a good explanation as to why the industry's
largest gold advocate organization, the World Gold Council, was always
touting the virtues of Gold Jewelry over and above the monetary purposes of
gold in all their marketing campaigns. Millions of advertising dollars were
spent glorifying the virtue of gold necklaces to enhance a woman's skin tones
and how the gift of a gold bracelet was sure to lead to a lifetime of
romance.
While the WGC was promoting gold via jewelry sales, the GATA Army was
scouring government documents, writing letter to their elected officials,
uncovering incriminating evidence and suing the guilty parties for their
involvement in a vast conspiracy by banks and governments to serendipitously
suppress the price of gold.
In a nutshell, the World Gold Council has stayed silent while the
obvious market manipulations suppressed the price of the ONLY thing they were
supposed to support...GOLD! All the while GATA has been busy freeing gold
from the clutches of the rich and powerful that control the price on a daily
basis.
The really twisted part of it is that where the World Gold Council has
an operating budget in the multi-millions of dollars funded by donations from
gold miners and banks, the folks at GATA operate on a shoe string budget
funded by paltry donations from individual investors that are tired of being
robbed by the bullion banks. Even given these facts the amazing truth is
that...
GATA DESERVES MORE CREDIT FOR THE 10 YEAR PRICE APPRECIATION OF GOLD
THAN ANY OTHER ORGANIZATION IN THE ENTIRE GOLD INDUSTRY!
So where does the World Gold Council stand now on supporting the price
of gold? Clearly they have benefited from the monumental rise in the price of
Gold so wouldn't you think they would go all out in support of Gold market
issues that may help gold gain a stronger foothold in investment portfolios,
support a higher price and stop the rampant market manipulation?
NOT A CHANCE!
If there is one tool that is used most in the price suppression of
Gold it is the concentrated paper gold selling that takes place on a daily
basis on the COMEX and LME. As our good friend Jeffrey Christian of the CPM
Group so eloquently put it... paper gold trades in multiples of 100 times the
amount of physical gold. So when the CFTC presented the world with the
opportunity to voice their opinion on whether this concentrated paper
manipulation should be curbed or stopped which side do you think the largest
Gold advocacy group came out on?
THEY ARE VEHEMENTLY AGAINST THE NEW POSITION LIMITS RULING!
If you don't believe me just read the comment they posted on the CFTC
website:
http://comments.cftc.gov/PublicComments/ViewComment.aspx?id=34001&SearchText=world%20gold%20council
Here are some highlights:
"the World Gold Council is concerned that the Proposed Rule
extends beyond the legislative intent of the Act and, if implemented, could
reduce or impair liquidity and trade in the gold market"
"the World Gold Council requests that
the CFTC withdraw the Proposed Rule until after the CFTC is able to determine
whether position limits are, in fact, necessary with respect to each of the
Referenced Contracts and their economic equivalents."
"The World Gold Council encourages the CFTC to update the
proposed definition of deliverable supply to reflect the more flexible
settlement options for physically-settled commodity transactions, and thereby
expanding the definition of deliverable supply"
"The World Gold Council also requests that any of the proposed
regulatory and recordkeeping requirements associated with position limits and
bona fide hedgers be delayed and phased in to the market."
As you can tell the World Gold Council is pulling out all the stops to
try and destroy the CFTC position limits rule which would help free the price
of gold from the market manipulators.
The big question: WHY is the WGC so against the implementation of
Position Limits? The answer can be found in the "Investment
Partners" portion on their website:
http://www.gold.org/investment/partners/
The World Gold Council is partners in the other powerful tool for gold
market manipulation...the Gold ETF's and especially the KING of gold market
rigging operations GLD!
For those who have not made the connection between Gold ETF's, the
COMEX shorts and the price manipulators I ask you to read an article I wrote
a few years back:
Who's The Little Man Behind The Curtain?
http://www.roadtoroota.com/public/133.cfm
There has also been many articles about JP
Morgan being both the Custodian of the largest Silver ETF (SLV) while at the
same time the suspected huge COMEX silver short. As analyzed in the above
article it is clear to me that the physical metal in the ETF's is being used
to justify the large concentrated short positions that are used to rig the
prices of gold and silver.
Interesting enough this same issue is highlighted in the letter
written to the CFTC by Senator Carl Levin in support of Position Limits.
http://comments.cftc.gov/PublicComments/ViewComment.aspx?id=33866&SearchText=levin
"The proposed rule would help put an end to excessive speculation
and market manipulation in U.S commodity prices by creating the regulatory
infrastructure needed to establish position limits across U.S. commodity
trading venues, including futures and related derivatives markets, and across
a variety of commodity related trades in agriculture, metals, and energy markets."
"the proposed rule must make it clear that the new position
limits will apply to derivative dealers and speculative traders that buy or
sell commodity-related instruments, including index traders who trade
commodity-related index swaps, and financial firms that sponsor
commodity-related Exchange Traded Funds (ETF's) or Exchange Traded Notes
(ETN's). These commodity-related financial instruments are designed to allow
investors to profit from changes in commodity prices without having to
purchase the actual commodities or manage a portfolio of commodity
investments; they are inherently speculative and, in the aggregate, can have
a significant effect on commodity prices."
These are some pretty big words aimed at our totally corrupt markets!
And don't think for a minute that this came from some Congressional lackey
that doesn't know what he's talking about or have any real power. Senator
Carl Levin is the Chairman of the Permanent Subcommittee on Investigations
for the United States Senate. Basically, he's one of the leaders in the
battle to take down the Banking Cabal!
I could go on for days about all the comments I read regarding the
Position Limits Rule that were posted on the CFTC website as the true
"Good Guys" and "Bad Guys" have come out of the wood work
on this one. As the crooks at BlackRock
commented..."The Commission's position limit proposal may well have the
most profound impact on our clients, our business and the markets we use of
any Dodd-Frank proposal the Commission has issued".
THAT'S HOW IMPORTANT THIS RULE IS!
Make no mistake...the end of market manipulation means the end of
un-backed fiat money as history has shown again and again that no un-backed
currency can survive on it's own without
controlling the prices of gold and silver.
The only question left is WHEN will the final ruling
come down. Will it be implemented before the global market chaos hits or will
is come after?
Either way something wicked this way comes so be ready.
And by the way...You can right a mighty
industry injustice while at the same time helping to end the gold
manipulation scam by donating to GATA here:
http://www.gata.org/node/16
So send them a few bucks...they DESERVE it!
May the Road you choose be the Right Road!
Bix Weir Sign Up
For FREE updates at www.RoadtoRoota.com
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