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Wall Street on Parade blocked after exposing diversion of billions to market-rigging ESF
8:04p ET Saturday, November 28, 2020
Dear Friend of GATA and Gold:
For some hours now the internet site Wall Street on Parade, operated by the indefatigable financial journalists Pam and Russ Martens, has appeared to be under a distributed denial of service attack:
While this may be merely a coincidence, the attack came soon after the Martenses revealed Friday that hundreds of billions of dollars appropriated by Congress and the president for "economic stimulus" purposes have been diverted by the Treasury Department to its secretive Exchange Stabilization Fund and used to buy euros, yen, and euro- and yen-denominated assets, among other things:
The ESF was created by the Gold Reserve Act of 1934 specifically for secret intervention in the gold and currency markets to "stabilize" the international value of the dollar:
Under amendments to the law, the ESF now is authorized to intervene in and manipulate any market in the world. For years GATA has called attention to the ESF's authorization to rig markets, including the gold market, but the Martenses' report Friday appears to provide the first details about the fund's recent operations.
... 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:
Their report doesn't prove that the ESF has used the "stimulus" money to knock the gold price down and support the dollar in recent weeks, but it is hard to think of any other explanation for the counterintuitive crash in gold even as the dollar was faltering.
The Martenses' report is pretty close to a smoking gun and the quick attack on their site can only strengthen suspicions.
After publicizing the Martenses' work in a dispatch to you Friday --
-- GATA also brought it to the attention of many national and international financial news organizations and financial newsletter writers, not so much out of any expectation that they would attempt serious journalism about such a sensitive topic as to put on the record their cowardice and betrayal of their audience. As far as we can tell, as of this hour none has pursued the matter, not even Zero Hedge, which often pays attention to the anomalies of the gold market as long as GATA doesn't have to be mentioned.
Well, GATA doesn't have to be mentioned here either. The Martenses did the work. But everyone who advocates free and transparent markets in the monetary metals and limited and accountable government might do the world a service by urging news organizations and financial commentators to start questioning the Treasury Department about what is happening here.
In their report Friday the Martenses noted that the House Financial Services Committee is to hold a hearing on Wednesday, December 2, to question Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell, and the Martenses said they would ask committee members to raise the ESF issue. Americans could help if they sent this dispatch to financial journalists and especially their members of Congress and urged them to investigate.
In the meantime let's wish the Martenses the best in defeating what seems like a vile but telling attack on their heroic work and in restoring access to it here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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Toast to a free gold market
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