11p ET Sunday, June 22, 2025
Dear Friend of GATA and Gold:
Over the weekend financial writers were speculating that the price of gold would rise substantially Monday because of the U.S. attack on Iran's nuclear bomb-making infrastructure and the resulting international tensions. Longtime followers of GATA might have just laughed, figuring that gold would probably perform counterintuitively on account of surreptitious crisis intervention by central banks.
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Of course GATA's intelligence is not so good that we know exactly how central banks will be trading gold and other markets in the day ahead. But we do know from their own admissions that they are secretly trading gold "nearly every day" --
http://www.gata.org/node/13373 [2]
http://gata.org/node/14716 [3]
-- and secretly trading all major commodity futures contracts as well:
http://www.gata.org/node/14385 [4]
http://www.gata.org/node/14411 [5]
While this surreptitious intervention 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 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 part of George's interview at the 3:28 mark here:
https://youtu.be/H-r8lzKpso8 [6]
George's insight, especially relevant as war erupts again in the Middle East, 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, with certain central banks, have these purposes expanded to include escaping the dangers of the current world reserve currency, the U.S. dollar?
-- 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.
But GATA continues to press these questions, and documentation addressing them can be found here:
https://www.gata.org/node/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org [8]
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"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:
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