How can they notice Swiss franc's devaluation and not gold's too?


11:18a ET Friday, September 16, 2011

Dear Friend of GATA and Gold:

Is GATA really asking too much in seeking acknowledgement that the gold market is manipulated largely surreptitiously but sometimes openly by Western central banks? Is nearly everybody in the world's financial establishment and financial press an absolute moron or corrupt?

Resounding answers in the affirmative were delivered this week by Debbie Carlson of Kitco News and the research director of Thomson Reuters GFMS, Neil Meader.

Having interviewed Meader about this week's coordinated helicopter drops of central bank dollars on European banks and the devaluation of the Swiss franc, Carlson writes: "Central bank intervention into currency markets can be supportive to gold prices, said a director at a metals consultancy firm. ... 'As soon as it was apparent it would be managed, a lot of fund managers quit the franc,' he said. The currency's role as a safe haven dimmed, which gave gold's safe-haven status a brighter shine."


Zacks Starts Coverage of Golden Phoenix with 'Outperform' Rating

Friday, September 9, 2011

SPARKS, Nevada -- Golden Phoenix Minerals Inc. (OTC Bulletin Board: GPXM) announced today that Zacks Investment Research has initiated coverage of the company with a comprehensive report giving a rating of "outperform."

The Zacks report provides information about the company's business model, its royalty mining growth strategy, recent acquisitions, drilling plans, and gold production. The report is available at the Golden Phoenix Internet site here:

Golden Phoenix Minerals Inc. is a Nevada-based mining company whose focus is royalty mining in the Americas. Golden Phoenix is committed to delivering shareholder value by identifying, acquiring, developing, and joint-venturing gold, silver, and strategic metal deposits. Golden Phoenix owns, has an interest in, or has entered agreements with respect to mineral properties in the United States, Canada, Panama, and Peru, including the company's 30 percent interest in the Mineral Ridge gold project near Silver Peak, Nevada.

Please visit the Golden Phoenix Internet site here:

For the company's full announcement of the coverage by Zacks, please visit:

Except, of course, the exact opposite happened simultaneously. That is, just moments before the Swiss franc's devaluation was announced, there was a sudden immense selling of gold and the gold price began a crash that continued through this week despite the financial market turmoil in Europe.

Of course this was utterly counterintuitive, insofar as the Swiss franc's demise as a safe-haven currency left, supposedly, only gold.

Carlson paraphrases Meader this way: "Gold can benefit from intervention because investors may decide to leave a market that is being managed, rather than one which is allowed to trade according to market forces." Yes, but why stop with the Swiss franc when the pounding of gold happened at the same time? Gold is a currency too, and might central bank intervention that works against the Swiss franc not also work against gold?

As South African gold market analyst Peter George said at GATA's Gold Rush 21 conference in Dawson City, Yukon Territory, Canada, six years ago, "In the last 10 years the central banks have effectively shown that when there's a real crisis, gold actually goes down, and it's so blatant, it's a joke":

But even with "safe haven" gold crashing along with the destruction of the other "safe haven," the Swiss franc, central bank intervention against gold appears never to have crossed the mind of Kitco's interviewer or the GFMS analyst. Indeed, who in financial journalism has even tried putting a question to a central banker about the curious smashing of gold simultaneous with the devaluation of the Swiss franc?

With financial analysis and journalism like this, the world will remain an easy mark for the totalitarians:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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The Silver Summit
Thursday-Friday, October 20-21, 2011
Davenport Hotel, Spokane, Washington

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2011
Hilton New Orelans Riverside Hotel

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Prophecy Platinum Drills 49.5 Meters Grading 1.27 g/t PGM+Au at Yukon Wellgreen Project

Company Press Release
August 22, 2011

Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) announces results from its 2011 drilling program for its first completed hole on the Wellgreen Project in the Yukon Territory, Canada.

Borehole WS11-184 encountered 472.6 meters of mineralization grading 0.43% nickel equivalent from surface to the footwall contact. Within this larger swath of mineralization the hole encountered 49.5 meters of 1.27 grams per ton platinum group metals plus gold, 0.71% nickel, and 0.45% copper (or 1.11% nickel equivalent).

The geology transitioned from blebby disseminated to net-textured to massive sulphide approaching the footwall contact grading 6.3% nickel, 1.7% copper, 2.7 grams per ton platinum, 1.6 grams per ton palladium, 0.17 grams per ton gold, and 3.4 grams per ton silver. The drilling zones and results are tabulated here, with more information: