You are here

Lassonde likes the gold price with central banks rigging the market

Section: Daily Dispatches

12:18a ET Thursday, March 1, 2018

Dear Friend of GATA and Gold:

Oh, for a journalist who would put a few serious questions to Franco-Nevada Chairman Pierre Lassonde, former chairman of the World Gold Council, when he says, as he told Daniela Cambone of Kitco News this week, that "gold is well-priced" and "where it should be."

http://www.kitco.com/news/video/show/BMO-Conference-2018/1869/2018-02-28...

Does Lassonde mean that gold is doing as well as it could against the daily gold derivatives trading by central banks?

... Dispatch continues below ...



ADVERTISEMENT

A Network of Bullion Dealers Who Bid for Your Business

With a SmartMetals® account from the Hard Assets Alliance, you're always guaranteed the lowest prices for gold, silver, platinum, and palladium. When you buy bullion through your account, the alliance's network of trusted precious metals dealers launches into action -- and you'll be shown the lowest price for your purchase. Also amazing is the low-cost storage available to you in six non-bank vaults around the world.

Click here to learn more:

http://www.hardassetsalliance.com/go/v34pm4/GAT



After all, what is the Bank for International Settlements doing with those 600 or so tonnes' worth of gold derivatives issued on behalf of its member central banks?

http://www.gata.org/node/18041

Does Lassonde mean that the manipulative trading in gold recently admitted by three investment banks --

http://www.gata.org/node/18004

-- has done no particular harm to gold investors?

Is Lassonde certain that the 15-percent discount given by CME Group, operator of the major U.S. futures exchanges, to governments and central banks for their surreptitious trading of gold futures --

http://www.gata.org/node/17976

-- is part of an entirely innocent enterprise?

Or by asserting that gold is "where it should be" does Lassonde mean that he approves of the surreptitious rigging of the gold market by central banks?

Four years ago, when he was still a member of the World Gold Council's Board of Directors, Lassonde told Cambone that central banks "spend no time whatsoever thinking about gold":

http://www.gata.org/node/13683

Simultaneously the gold council was advertising a seminar for central bankers about trading, clearing, and vaulting gold and accounting for gold reserves:

http://www.gata.org/node/13851

In his interview with Kitco News this week Lassonde added that he doesn't think gold is going anywhere this year. If gold does go anywhere, it sure won't be with any help from this supposed leader of the gold industry. He well may be the favorite gold mining executive of central bankers.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * *

Join GATA here:

Mining Investment Asia
Monday-Wednesday, March 26-28, 2018
Marina Bay Sands, Singapore
https://www.mininginvestmentasia.com/

Mines and Money Asia
Tuesday-Friday, April 3-6, 2017
Hong Kong Convention and Exhibition Centre
https://asia.minesandmoney.com/

* * *

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