Is GATA belaboring the obvious? Not in the financial media

Section:

12:45p ET Thursday, June 10, 2010

Dear Friend of GATA and Gold:

Our friend R.A. writes:

"GATA has done great work. But here's a suggestion. Almost everyone and his dog now accept that there is gold market manipulation. GATA should change its focus entirely to how to deal with it, or change it, rather than keep trying to prove it. You're beating a dead horse, trying to keep proving what is already a given."

GATA is even more tired than R.A. about belaboring what long ago seemed obvious to us. But what seems obvious to us is not yet even a mere suspicion to 99.99 percent of the investment world.

Obvious? Tell it to the Financial Times, The Wall Street Journal, The New York Times, the Washington Post, and most of the world's major financial news publications, which have yet to mention complaints of manipulation of the gold market or even complaints and official acknowledgements of manipulation of the currency markets. That's not to mention CPM Group executive Jeff Christian and Kitco senior market analyst Jon Nadler, who are often quoted by major financial news organizations and who deny central bank intervention in the gold market.

Unfortunately it may be a long, long time before what strikes GATA and its friends as obvious will seem to most investors to be even a possibility.

But MineWeb's Lawrence Williams today reports what may be a little progress, the comment at an investment conference in London by an HSBC metals trader that "top asset managers" in the United States are reluctant to store gold there because of fear that the United States will try confiscating gold again. At least those asset managers seem not to have completely accepted Nadler's repeated assurances that central banks have no interest in manipulating the gold price. The MineWeb story is headlined "U.S. Asset Managers Worried Obama Could Confiscate Gold" and you can find it here:

http://www.mineweb.com/mineweb/view/mineweb/en/page72068?oid=106063&sn=D...

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



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