West wages 'psychological war' on gold, Embry tells King World News

Section:

2:20p ET Monday, September 9, 2013

Dear Friend of GATA and Gold:

Sprott Asset Management's John Embry today tells King World News about the "psychological warfare" being waged by Western governments and central banks against monetary metals prices. He makes a point he and other GATA supporters have often made: that war and the threat of war, like the threat of war in Syria now, actually send the gold price down because they prompt even more intervention by central banks. Indeed, if the Northern Hemisphere was destroyed in a nuclear war, the U.S. Exchange Stabilization Fund would sell enough futures contracts in Johannesburg, Sydney, and Rio de Janeiro to knock the gold price down by 25 percent; CPM Group's Jeff Christian would attribute the crash to new hedging by mining companies expecting further declines in price, even though the war had brought mine production to an end in the Northern Hemisphere; and what remained of the mainstream financial news media would quote Christian without putting a critical question to him or to any central bank. (Actual journalism is never attempted in regard to gold.)

Embry notes that these central bank manipulations will fail eventually. The question is whether they will fail in the lifetimes of market analysts who purport to enjoy price suppression so they can acquire more discounted metal or in the lifetimes of their children, grandchildren, or greatgrandchildren. Of course GATA is doing what it can to hasten the day and thereby achieve free and transparent markets and limited and accountable government.

That may take a while longer, so in the meantime an excerpt from Embry's interview is posted at the King World News blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/9/10_We...

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



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