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March
21
2018

Gold Price Suppression News Going Viral: Pro-Govt Turkish Paper Picks Up On Story
Chris Powell

“The only deniers left seem to be certain people in the monetary metals industry itself for whom exposure of the scheme might be bad for their business…”

Gold researcher Ronan Manly’s detailed report for Russia Today on the history and mechanisms of gold price suppression by central banks, called to your attention by GATA a few hours ago —

http://gata.org/node/18112

— has been quickly reprinted by the Daily Sabah, a major newspaper in Istanbul, Turkey, that is published in English, German, Arabic, and Russian:

https://www.dailysabah.com/finance/2018/03/18/central-banks-have-long-hi…

While it’s good that word of the gold price suppression scheme is getting around the world, it’s even better here because the Daily Sabah is closely aligned with the Turkish government:

https://en.wikipedia.org/wiki/Daily_Sabah

So presumably the Turkish government not only knows all about the gold price suppression scheme but also approves of its exposure.

Of course being members of the Bank for International Settlements, the coordinator of the gold price suppression scheme, most governments and central banks also know about it and cooperate with it to some extent. Indeed, six years ago the U.S. economists and fund managers Paul Brodsky and Lee Quaintance argued in a thoughtful study that central banking’s bigger scheme with gold is to redistribute it among central banks to allow them to hedge their foreign exchange exposure in U.S. dollars against the dollar’s inevitable devaluation and then to push the gold price way up to reliquefy themselves:

http://www.gata.org/node/11373

As the scheme is surreptitious and involves rigging markets, it means cheating nearly everyone around the world now and right through to its conclusion, which is why it is a cosmic wrong. But as Manly’s history of the scheme suggests, proving its existence has become like proving a truism. Central banks and governments don’t deny the scheme; they just refuse to discuss it and answer questions about it.

The only deniers left seem to be certain people in the monetary metals industry itself for whom exposure of the scheme might be bad for their business. The deniers are extras playing members of the crowd in a re-enactment of the Hans Christian Andersen fable “The Emperor’s New Clothes.” As they are assisting the bad guys, it’s GATA’s job to expose them too.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[email protected]

 

Powell has been managing editor of the Journal Inquirer, a daily newspaper in Manchester, Connecticut, since 1974. He began working at the paper when he left high school in 1967. He writes a column about Connecticut issues that is published in a dozen other newspapers in the state and Rhode Island and often appears on radio and television public-affairs programs in Connecticut.

From 2004 through 2009 he was legislative chairman of the Connecticut Council on Freedom of Information. In 2006 he was inducted into the Academy of New England Journalists by the New England chapter of the Society of Professional Journalists and the New England Society of Newspaper Editors.

In addition to the Connecticut Council on Freedom of Information, he is a member of the Connecticut, Manchester, and Vernon historical societies and the Churchill Centre.

 

 

www.gata.org