GATA's Chris Powell explains the importance of gold price manipulation

It’s the destruction of markets and it’s the manipulation of the value of all capital, labour and goods and services in the world.

In a recent appearance on RT’s Capital Account GATA’s Chris Powell gave an excellent explanation of why market manipulation is an important issue.

“What they are doing is really [trying] to seize control of everything economic in the world. And really surreptitiously behind peoples backs. It’s an essentially tyrannical system, that is what we are trying to expose. “

Mr Powell believes the precious metals market to be key to this economic control “Because the central banks themselves say so.” He sites paper by Harvard economists “explaining the traditional historic relationship between the gold price and interest rates.”

“Basically they found that gold is a determinant of interest rates. It’s a determinant of the price of government bonds and that is what the gold price repression scheme is really about. It’s a mechanism of supporting government currencies, of suppressing interest rates and supporting government bond prices. “

As Allen Greenspan testified to congress in 1998, ‘central banks stand ready to lease gold in increasing quantities should the price rise.’”

“gold leasing is not what central banks sometimes pretend it is, a way for them to make a little money on what they call a dead asset, it is a mechanism of market control. It is a mechanism of defeating a potentially competitive currency, it’s a mechanism of suppressing interest rates, and it’s a mechanism of supporting government bond prices. “

Mr Powell and Mr Murphy go on to discuss silver market manipulation saying “it’s a government operation.”

“you can look it up it’s on the Treasury Departments internet site, the law authorizes the Exchange Stabilization Fund to trade secretly in the gold market and any other market that the Treasury Secretary wants to get into.”

They review their resent discovery of IMF reports on gold leasing, comment on the recent tours of the Bank of England’s gold vault and examine the nature of conspiracies.

It’s an excellent interview and well worth watching.



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