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OMG! Kitco News lets a fund manager admit that gold's 'conspiracy theorists' were right

Section: Daily Dispatches

Now how about going after the much bigger part of the story?

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11:18a ET Friday, October 2, 2020

Dear Friend of GATA and Gold:

What's more remarkable -- that a respected New York fund manager considers JPMorganChase's confession to gold market rigging to be vindication for those who had been dismissed as "conspiracy theorists," or that Kitco News reports at length what he says?

That daily double comes in today as David Lin of Kitco News interviews Will Rhind, CEO of GraniteShares, a sponsor of exchange-traded funds.

... Dispatch continues below ...


Asante Gold Announces Kubi 3D Model
Extends Gold Mineralizing System

Company Announcement via Globe Newswire
Thursday, July 2, 2020

VANCOUVER, British Columbia, Canada -- Asante Gold Corp. (CSE:ASE / Frankfurt:1A9 / U.S.OTC: ASGOF) has received the results of 3D magnetic modeling completed over its Kubi mining lease in the Ashanti Gold Belt in Ghana.

The results show that the Kubi Main Zone gold resource is intimately associated with and interfingers the western sheared contact of a magnetic high feature that plunges to more than 2 kilometers in depth. Here is the 3D model video:

In Ghana, Africa's largest gold producer, many big mines are located along northeast-trending regional shear systems that exceed 250 kilometers in length. Studies indicate that the hydrothermal gold mineralizing system that generated the Ashanti Gold Belt deposits was "gigantic and extended to at least 10 to 15 kilometers in depth" (Schmidt Mumm et al., 1996). The Ashanti shear zone hosts the largest single gold resource in Ghana, the 66-million-ounce Obuasi mine. This major shear zone cuts Kubi 15 kilometers southwest of Obuasi. ...

... For the remainder of the announcement:

Rhind remarks: "There have always been these kinds of mutterings of manipulation of the gold market. A lot of people that were talking about that were really written off as fringe or conspiracy theorists -- with an extreme view -- and those people have been right. This is really quite an extraordinary situation where one of the largest banks in the world had to pay a monumental fine."

Of course GATA's longstanding complaint about manipulation of the monetary metals markets goes far beyond the "spoofing" now admitted by JPMorganChase and other bullion banks. GATA's complaint is that suppression of monetary metals prices has been a primary policy of modern central banking for decades, sometimes conducted in the open, as it was during the era of the London Gold Pool in the 1960s, more recently conducted largely surreptitiously through intermediaries and concentrating on the futures markets.

A summary of some major documentation of this policy is posted at GATA's internet site here:

More documentation is here:

The prosecutions of the bullion banks and their confessions to "spoofing" don't come close to the impact of the comprehensive official-sector manipulation. But the official agents of the Federal Reserve Bank of New York, the primary dealers in U.S. government securities --

-- include not only JPMorganChase and Bank of Nova Scotia, whose Scotia Mocatta division also has confessed to gold market rigging, but also other bullion banks -- Deutsche Bank, Goldman Sachs, HSBC, Citigroup, Morgan Stanley, and Union Bank of Switzerland. So maybe investment house and journalistic curiosity about gold market rigging will start extending beyond bullion banks to the central banks themselves.

Such journalism would not have to start with any heavy lifting, much of that work already having been done by GATA and the dedicated researchers whose work GATA has publicized. Any financial journalist might get an interesting story just by posing a simple question to the U.S. Treasury Department, Federal Reserve, and Commodity Futures Trading Commission -- Does the commission have jurisdiction over manipulative futures trading undertaken by or for the U.S. government, or is such trading authorized by the Gold Exchange Act of 1934 or other legislation? -- and then report all the refusals to answer.

Yes, such questions probably will get any financial journalist crossed off the invitation list for the Christmas parties at the bullion banks and the New York Fed. But any journalist who is respectable isn't really a journalist at all.

The Kitco News interview with GraniteShares CEO Rhind is 13 minutes long. Only the first four minutes and 30 seconds involve gold market manipulation. It's posted here:

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

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New Orleans Investment Conference
Wednesday-Saturday, October 14-17, 2020

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Toast to a free gold market
with great GATA-label wine

Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.

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Buyers can compose their case by choosing as many as four varietals from the list here:

GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?

To order a case of GATA-label wine, please e-mail Fay J Winery at

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Support GATA by purchasing
Stuart Englert's "Rigged"

"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at

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