Doug Casey asks Precious Metals Market Manipulation? - GATA Responds
In an essay posted Thursday. May 17, 2012 at GoldSeek, financial writer Doug Casey of Casey Research asks for evidence of gold market manipulation and some explanation of its purpose.
"I'm not at all disinclined to believe tales of manipulation of markets by the state; I expect it, and as a speculator I relish it. But I like to see evidence for everything. And extraordinary claims demand extraordinary evidence. I've read the stuff these guys have written for years and have seen nothing but strident assertions and accusations. I'm completely willing to believe central bankers are capable of any kind of nefarious foolishness, but I'd like to see proof. I'm constantly reading assertions of how "the boys" come along at "precisely" 1p.m. or 2 p.m. or perhaps "precisely" 11:37 a.m. or 12:16 p.m. and, on a purely not-for-profit basis, decide to "smack down" the market for gold or silver or both. Meanwhile the market has been hitting new highs for a dozen years."
To read the entire essay and Doug's direct questions follow the link below:
GATA responds: May 18, 2012 http://www.gata.org/node/11381
The evidence and explanation have long been posted in the "Documentation" file at GATA's Internet site here:
Maybe the most comprehensive treatment of the subject is the latest version of your secretary/treasurer's "stump speech" here:
But we're always adding to the "Documentation" file, like the acknowledgment by the late Dutch central banker and Bank for International Settlements President Jelle Zijlstra that Western central banks rig the gold market --
-- so if he's at all curious Casey might want to drop by occasionally for updates.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
This is a facinating and compelling read.