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Gold market manipulation pleases financial letter writer Faber
11:12p ET Sunday, September 1, 2013
Dear Friend of GATA and Gold:
Interviewed by Lars Schall for Matterhorn Asset Management's GoldSwitzerland Internet site, financial letter writer Marc Faber joins those who do not believe that time is money and who are indifferent to the cheating of investors generally.
Faber, who writes the Gloom Boom Doom Report --
-- remarks: "There are lots of theories about manipulation in the gold market. I always say this doesn't concern me, and I hope that the central banks manipulate the price down because if that is the case, don't forget that every manipulation eventually leads to a move in the opposite direction that is very violent. So in other words, if someone manipulates the price down, in my view eventually the price will shoot up very dramatically. It's like if you have wage control -- eventually the wage control falls apart and wages go through the roof. Similarly if you have in the commodities market price supports for coffee or oil or whatnot, eventually the price falls through the price support and so forth and so on. Market force is always more powerful, so I hope the gold price was manipulated down because then it will go through the roof eventually."
Those of Faber's subscribers whose active lifespans are encompassed by "eventually" may be glad of his insight here. Faber subscribers and others who have been investing in the monetary metals for some time in the hope of free-market pricing and whose active lifespans don't leave much more room for "eventually" may think: Thanks for nothing.
Schall's interview with Faber is posted at GoldSwitzerland here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Jim Sinclair plans Westchester County seminar Sept. 4
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