-- I was disappointed that you did not address the constant and even daily but largely surreptitious intervention in the gold market by governments and central banks, which long has been documented by my organization, the Gold Anti-Trust Action Committee Inc.
For example, just this week GATA reported that the Bank of England refuses to answer whether it has resumed leasing gold:
Of course Federal Reserve Chairman Alan Greenspan acknowledged to Congress in 1998 that the objective of gold leasing by central banks is to suppress the price of the monetary metal:
GATA reports every month about the gold swaps and leases undertaken surreptitiously by the Bank for International Settlements in its role as gold broker for its member central banks. Our report for February concluded that this intervention in the gold market by the BIS had reached its highest level in history, precisely as the gold price was falling sharply:
In recent weeks the investigative financial journalists Pam and Russ Martens have reported about the huge increase -- hundreds of billions of dollars -- in the money held by the U.S. Treasury's Exchange Stabilization Fund, which since 1934 has been authorized by U.S. law to intervene secretly in the gold market and other markets throughout the world without having to account for it even to Congress:
Would so much money have been transferred to the Exchange Stabilization Fund without some plan to use it?
Surreptitious intervention in the gold market by governments and central banks is longstanding international policy documented and summarized by GATA here:
So we question how anyone can purport to explain the gold price without accounting for intervention by governments and central banks and putting critical questions to them.
Of course I would be glad to help you review the documentation if you ever wanted to address the gold price issue seriously.
With good wishes.
CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc.
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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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www.gata.org/files/GATA-4-wine-bottles.jpg
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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?
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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 --
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March 25, 2021 Profile picture for user Rambus Rambus
I would like to show you some long term charts for Silver which shows that it has a bright future. In the short term is where its problems lie. The thing with big consolidation patterns is, its more of a time thing than a price thing. Many times one can recognize the big picture before it is complete which makes the waiting game even harder. You think you can start to trade inside the consolidation pattern which sometimes you can do if you can catch the reversal points just right. Most of the time though you end up loosing a little, making a little or just breaking even. It always looks easy in hindsight but in real time it is a different story.