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Kitco's Horwitz sees 'nothing new to report' in gold even as BIS intervention hits another record
12:10p ET Tuesday, October 27, 2020
Dear Friend of GATA and Gold:
On Saturday GATA's expert on the Bank for International Settlements, Robert Lambourne, reported that the bank's surreptitious intervention in the gold market on behalf of its member central banks had reached another record high:
But on Monday Kitco's gold and silver market analyst, Todd "Bubba" Horwitz, produced commentary headlined "There Is Nothing New to Report":
Now maybe Horwitz and Kitco meant "nothing new to report" in the sense that the BIS has been surreptitiously intervening in the gold market on behalf of its member central banks for many years, and the new record high level of intervention comes only a month after the last record high level.
... Dispatch continues below ...
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But then Horwitz and Kitco seem never to have acknowledged the intervention of the BIS in the gold market, so their acknowledging it would be new to Kitco's readers, and it could include some pretty interesting stuff, like the advertising the bank has done to let prospective central bank members know that its services include surreptitious interventions in the gold market:
Horwitz's "Nothing New to Report" parody of expertise is almost as funny as the "Nothing to See Here" parody performed by Leslie Nielsen in "The Naked Gun":
For there's "nothing new to report" in the gold market only if you're trying hard not to see anything.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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