Doug Casey, founder of Casey Research, may be admired for his omniscience
anyway. In an interview today with Dan Steinhart of The Casey Report --
http://www.caseyresearch.com/cdd/doug-casey-o...-and-what-to...
-- Casey declares, "The government doesn't care about gold. ... They
don't care about its price, and even less about that of silver."
Casey adds: "I don't believe in the conspiracy theories regarding
gold price suppression. There's zero credible evidence for it, and I'm
embarrassed having to discuss the subject with outsiders who have heard it.
For them it's more evidence that gold investors all wear tin-foil hats."
But unfortunately once again Casey failed explain how he knows what governments
are thinking about gold -- did he question even one government official about
it? -- and failed to address any particular piece of evidence of government
involvement in the gold market. This may leave those of his firm's clients
who are not also omniscient wondering about the contradiction between Casey's
assurances and the long, vast, and contemporaneous public record of both open
and surreptitous government intervention in the gold market.
For example:
-- If government doesn't care about the price of gold, why did the Banque
de France's director of market operations, Alexandre Gautier, tell the London
Bullion Market Association in September 2013 that the French central bank
trades gold for its own account and the accounts of other central banks "nearly
on a daily basis"?:
http://www.gata.org/node/13373
Are those central banks trading gold just for fun? Or was Gautier lying?
Was Gautier lying again when he told the LBMA in November last year that
central banks now are "managing" their gold reserves "more
actively"?:
http://gata.org/node/14716
And if central banks don't care about gold, why does Gautier refuse to
discuss their gold trading as if it is terribly sensitive?:
http://gata.org/node/14954
-- Why does the European Central Bank secretly gather representatives of
its member central banks every few years before emerging to proclaim that
"gold remains an important element of global monetary reserves" and
that its member central banks "will continue to coordinate their gold
transactions so as to avoid market disturbances"? What is that secret
"coordination" if not conspiracy?:
http://www.gata.org/node/14014
-- Why, in June 2005, did William R. White, the director of the monetary
and economic department of the Bank for International Settlements, the
central bank of the central banks, tell a BIS conference in Basel,
Switzerland, that a primary purpose of international central bank cooperation
is "the provision of international credits and joint efforts to
influence asset prices -- especially gold and foreign exchange -- in
circumstances where this might be thought useful"?:
http://www.gata.org/node/4279
Was White lying?
-- If governments don't care about gold, why does the BIS actually advertise
to potential central bank members that its services include secret
interventions in the gold market?:
http://www.gata.org/node/11012
-- Indeed, if governments don't care about gold, why does the BIS
acknowledge that it functions largely as the broker for secret central bank
transactions in gold? Are those transactions just for fun as well?:
http://www.gata.org/node/12717
-- If governments don't care about gold, why did the staff of the
International Monetary Fund report secretly to its board in March 1999 that
central banks refuse to disclose their gold swaps and leases because
disclosure would impair their secret interventions in the currency markets?:
http://www.gata.org/node/12016
-- Why did Federal Reserve Chairman Alan Greenspan testify to Congress in
1998 that central banks lease gold to suppress its price?:
http://www.federalreserve.gov/boarddocs/te...98/19980724.htm
Many similar questions could be put to Casey:
target="_blank"
http://www.gata.org/node/14839
Like Casey, GATA doesn't believe in "conspiracy theories"
either. Casey is the only one talking about "theories" here. When
documents and public admissions show governments and central banks meeting
secretly to develop and implement a course of action toward gold, we believe
in conspiracy fact, while the clients of Casey Research are left with
nothing but Casey's omniscience.
