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10 years ago Peter George told you that gold would fall today

Section: Daily Dispatches

3:10p ET Monday, November 16, 2015

Dear Friend of GATA and Gold:

Last night in the aftermath of the terrorist attacks in Paris news organizations were speculating that the price of gold would rise today because of international tensions and turmoil. Longtime followers of GATA might have just laughed, knowing that gold would continue to perform counterintuitively on account of surreptitious crisis intervention by central banks.

... Dispatch continues below ...


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Of course GATA's intelligence is not so good that we know exactly how central banks were trading gold and other markets today. But we do know from their own admissions that they are secretly trading gold "nearly every day" --

-- and secretly trading all major commodity futures contracts as well:

While this cannot be reported by mainstream financial news organizations, it long has been understood by anyone who wants to understand it.

Among the first to understand it and publicize it was GATA's late friend Peter George, the foremost gold advocate of his day in South Africa.

Preparing for his presentation at GATA's Gold Rush 21 conference in Dawson City, Yukon Territory, Canada, in August 2005, George gave an interview to GATA videographer Trevor Johnston, remarking:

"In the last 10 years the central banks have effectively shown that when there's a real crisis, gold actually goes down, and it's so blatant, it's a joke."

You can watch that excerpt of George's interview here:

George's insight, especially relevant as markets resume amid another crisis of terrorism, is a reminder that no analysis of the gold market is worth anything if it fails to address these questions:

-- Are central banks in the gold market surreptitiously or not?

-- If central banks are in the gold market surreptitiously, is it just for fun -- for example, to see which central bank's trading desk can make the most money by cheating the most investors -- or is it for policy purposes?

-- If central banks are in the gold market for policy purposes, are these the traditional purposes of defeating a potentially competitive world reserve currency, or have these purposes expanded?

-- If central banks, creators of infinite money, are surreptitiously trading a market, how can it be considered a market at all, and how can any country or the world ever enjoy a market economy again?

These are the questions mainstream financial news organizations, market analysts, and most purported analysts of the gold "market" are forbidden to pursue.

Documentation answering those questions can be found here:

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

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