Paul Craig Roberts: Fed defends dollar, QE, by suppressing gold price

Section:

12:30a ET Sunday, May 19, 2013

Dear Friend of GATA and Gold:

In his new commentary former Assistant U.S. Treasury Secretary Paul Craig Roberts squarely accuses the Federal Reserve of using the futures markets to suppress gold and silver prices to protect the U.S. dollar and the Fed's "quantative easing" policy.

"What," Roberts asks, "does this illegal manipulation of markets by the Federal Reserve tell us? It tells us that the Federal Reserve sees no way out of printing money in order to support the federal deficit and the insolvent banks. If the dollar came under attack and the Federal Reserve had to stop printing dollars, interest rates would rise. The bond and stock markets would collapse. The dollar would be abandoned as reserve currency. Washington would no longer be able to pay its bills and would lose its hegemony. The world of hubristic Washington would collapse."

Roberts' commentary is headlined "Washington Signals Dollar Deep Concerns" and it's posted at his Internet site here:

http://www.paulcraigroberts.org/2013/05/18/washington-signals-dollar-dee...

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



ADVERTISEMENT

Is your gold safe, secure, and guaranteed?
Why storing it in Canada may be right for you

Canada is one of the safest places to store bullion because of its prosperity and economic and political stability. By vaulting your bullion with Sprott Money's Canadian storage program, you guarantee that your metals are stored securely and privately with little risk.

-- We store with Brink's, a private and non-bank storage facility renowned for its integrity, security, and efficiency.

-- Your precious metals will be safe under the protection of Brink's world-class technology and infrastructure.

-- Your precious metals will be fully insured by Brink's and Sprott Money. In the unlikely event of loss, theft, or physical damage to your metal, you will be fully compensated.

Sprott Money is a recognized and trusted name in the precious metals industry. For more information, please visit:

http://www.sprottmoney.com/store-with-us



Join GATA here:

World Resource Investment Conference
Sunday-Monday, May 26-27, 2013
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
http://www.cambridgehouse.com/event/world-resource-investment-conference...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16