Chris Powell – The Why and How of Gold Price Suppression
Remarks by Chris Powell, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Standard Chartered's "Earth's Resources" Conference
J.W. Marriott Hotel, Hong Kong
Thursday, June 21, 2012
The Henley Group Client Seminar
Club Lusitano, Hong Kong
Thursday, June 21, 2012
Hong Kong Gold Investment Forum
Renaissance Harbour View Hotel, Hong Kong
Tuesday, June 26, 2012
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“This conference is important because gold long has been money and may again be the best and most important money. Most investment houses don't understand this; some of the few that do understand it fear to acknowledge it. But far from being a quaint antique, gold is actually the secret knowledge of the financial universe.
Gold is so important that Western central banks -- particularly the U.S. Treasury and its Exchange Stabilization Fund, the Federal Reserve, and allied central banks -- rig the gold market every day, even hour by hour. Why do they do this?
It's because gold is a powerful competitive currency that, if allowed to function in a free market, determines the value of other currencies and influences interest rates and the value of government bonds.
There is much academic literature supporting gold's influence over currencies, interest rates, and government bonds throughout history. Prominent in this literature is the study written by Harvard economics professor Lawrence Summers and University of Michigan economics professor Robert Barsky in the June 1988 edition of the Journal of Political Economy, a study titled "Gibson's Paradox and the Gold Standard." As with all the documents I'll cite today, the Summers and Barsky study is posted at my organization's Internet site, GATA.org… Powell’s remarkes continue at the GATA link just below.”
Source: GATA
