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Central banks and gold: New Orleans conference may disclose a lot

Section: Daily Dispatches

1p ET Sunday, June 29, 2014

Dear Friend of GATA and Gold:

Something unprecedented is scheduled to happen at the New Orleans Investment Conference in October: a former central banker -- the most famous in the world, Alan Greenspan -- has agreed not just to speak but to take questions from the audience about gold.

Of course there's no guarantee that Greenspan's answers will be truthful and candid. But even his evasions or refusals to answer candidly may disclose a lot.

GATA Chairman Bill Murphy and your secretary/treasurer will be among the speakers at the conference and we're ready with questions that might be well-put not only to Greenspan but to anyone who disparages complaints of gold price suppression by central banks. For example:

-- Are central banks surreptitiously involved in the gold market, secretly trading gold, gold derivatives, and related financial instruments?

... Dispatch continues below ...


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-- If central banks are involved in the gold market, why? Is it just for fun -- for example, are central banks running contests among their foreign-exchange desks to see which can out-trade the other? Or is profit the objective of such trading, as central banks use their great heft, the power of infinite money creation, to move markets in their favor and thereby fleece lesser participants? Or are central banks secretly trading gold, gold derivatives, and related financial instruments for more serious policy purposes, like controlling the currency, bond, and equity markets to support their currencies and government bonds, with the fleecing of ordinary investors being merely an incidental consequence?

-- Are the many official records and admissions of gold price suppression by central banks, like those compiled by GATA here --

-- of any value in discerning the purposes of gold-related trading by central banks?

-- Is there a fractional-reserve gold banking system in which the credit of central banks and bullion banks replaces actual gold deposits and thereby vastly increases what the world considers its gold supply? If so, do central banks underwrite and sustain this system with gold sales, swaps, and leases involving bullion banks? If central banks do underwrite and sustain this system, why? Central banks apparently do not underwrite and sustain such a system in soybeans, pork bellies, and other commodity markets, do they? Do gold's competition with central bank-issued money and gold's influence on interest rates and the value of government bonds have anything to do with central bank involvement with the gold market and the fractional-reserve gold banking system?

-- Have those people who disparage complaints of gold price suppression by central banks ever put to central banks any questions about their involvement in the gold market? Have those who disparage complaints of gold price suppression ever sought to obtain access to central bank records of that involvement? If not, how can they be sure that central banks don't seek to control the gold price through surreptitious market intervention?

Many GATA favorites also will be speaking at the New Orleans Investment Conference, including:

-- Financial letter writer Thom Calandra.

-- Doug Casey of Casey Research.

-- U.S. Global Invetors CEO Frank Holmes.

-- Gold Newsletter editor and conference sponsor Brien Lundin.

-- Financial letter writer Ian McAvity.

-- Sprott Asset Management's Rick Rule.

-- Euro-Pacific Capital's Peter Schiff.

-- And newspaper columnist Charles Krauthammer.

Dozens of resource companies will be exhibiting too.

The conference again will be held at the beautiful Hilton New Orleans Riverside hotel, located right on the New Orleans Riverwalk downtown, across the street from Harrah's casino and just a few blocks from the French Quarter and Jackson Square. Dozens of great restaurants are within walking distance, and the Mississippi River itself is spectacular. The city itself always adds great value to the conference experience -- and this year some news of great importance to the gold market may be made there.

The conference will be held from Wednesday, October 22, through Saturday, October 25. For more information about it and to register for it, please visit:

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

* * *

Join GATA here:

Casey Research 2014 Summit
Hill Country Resort and Spa
San Antonio, Texas
Friday-Sunday, September 19-21, 2014

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

Or by purchasing a colorful GATA T-shirt:

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

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