You are here

Ronan Manly: As World Gold Council's membership falls, it hikes fees to GLD

Section: Daily Dispatches

11:40a ET Sunday, June 14, 2015

Dear Friend of GATA and Gold:

As the World Gold Council's membership of mining companies has been declining, reducing annual dues payments, the council now is generating most of its income through royalties from the exchange-traded gold fund GLD, gold researcher and GATA consultant Ronan Manly reports today.

Australia's Newcrest Mining, Manly writes, is the latest major miner to withdraw from the council, though no one wants to talk about it. Manly adds that the council has just increased the charges it assesses against GLD.

... Dispatch continues below ...



ADVERTISEMENT

Free Storage with BullionStar in Singapore Until 2016

Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop-shop for precious metals in Singapore.

Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage is FREE until 2016 and will have the most competitive rates in the industry thereafter.

For more information, please visit Bullion Star here:

https://www.bullionstar.com/



Despite its declining revenue, the council maintains extremely plush offices around the world, Manly adds.

If the council's objective is to get the gold price up, it hasn't had much success lately. While the failure may be attributed to the Western central bank gold price suppression scheme, the council remains studiously silent about it even as the diversion of some of the council's still-ample resources from jewelry promotion to exposure of market rigging might be productive.

All GATA's documentation of gold price suppression, archived here --

http://www.gata.org/taxonomy/term/21

-- and summarized here --

http://www.gata.org/node/14839

-- has been shared with the council, but the council has never acknowledged it, giving rise to suspicions about the council's intentions.

Manly's review of the council's operations seems to be the most comprehensive of anything published in public. It is headlined "The Funding Model of the World Gold Council: GLD Fees and Gold Miner Dues" and it's posted at Bullion Star here:

https://www.bullionstar.com/blogs/ronan-manly/the-funding-model-of-the-w...

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

* * *

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2015

http://noic2015.eventbrite.com/?aff=gata

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's 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