Winning Nobel Prize doesn't mean you know everything

Section:

10:56a ET Tuesday, November 2, 2010

Dear Friend of GATA and Gold (and Silver):

Note carefully the comment obtained from the Nobel Prize-winning economist and news media darling Joseph Stiglitz by TheStreet.com's Dan Freed in his story today about silver market manipulation:

http://www.thestreet.com/_yahoo/story/10906837/1/revenge-of-the-gold-nut...

"Upon hearing GATA's argument on its website that 'the International Monetary Fund has instructed central banks to lie about their gold reserves,' Nobel prize-winning economist Joseph Stiglitz, a frequent critic of the IMF, expressed some skepticism. 'Without knowing anything about this, it's more likely a group of gold nuts, of which there many,' he said of GATA.

"Stiglitz had his doubts about whether two big banks might be capable of cornering the silver market, though he conceded that he does not have a good handle on how liquid the market is."

Of course if he ever cared actually to know anything about the issue about which he has just been so quickly and insultingly dismissive, GATA would be glad to review with Stiglitz the contents of the documentation file on its Internet site, which includes a large number of official government admissions of gold market manipulation and interventions meant to deceive the gold market, as well as evidence of silver market manipulation:

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

Winning the Nobel Prize is nice but it doesn't necessarily mean that you know everything and have the right to call names amid your acknowledged ignorance.

In any case, maybe GATA's friends should take heart insofar as, once again, disparagement of our work comes from someone who admittedly knows nothing about it and is too much of a celebrity to be bothered to review and debate the evidence.

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



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