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Grant Williams: All markets are rigged, maybe gold most of all
7:23p ET Monday, April 14, 2014
Dear Friend of GATA and Gold:
All markets are rigged these days, perhaps the gold market most of all, fund manager Grant Williams writes in the new edition of his "Things That Make You Go Hmmm ..." letter. Williams echoes the observation made first four years ago by GATA's late board member Adrian Douglas that gold almost always goes down during London trading hours even as it is rising elsewhere, a reincarnation of the London gold pool of the 1960s:
Williams writes: "In order for market rigging to be stopped, the changes have to come from those entrusted with regulation, in the form of stern punishments for those caught rigging them, and there must be changes to the rules to close the loopholes that allowed this kind of activity to occur in the first place.
"Instead, the bodies which supposedly oversee the markets are involved in the most serious rigging of all.
"What chance is there that we will see any change?
"Get used to it, folks. As anyone who looks at financial markets up close with their eyes open will tell you, they are all rigged -- it's simply a question of degree. The question is: Do you adapt and work around the rigging or do you simply decide not to play?
"Central banks and governments seriously hope you choose the former option."
Williams' letter is headlined "What's the Frequency, Zenith?" and it's posted at the Mauldin Economics Internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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