By Stuart Englert
Demands for free markets and sound money are futile as long as precious metal prices are suppressed to defend the U.S. dollar. The U.S. government and its banking accomplices for decades have intervened in gold and silver markets to protect the world’s reserve currency from its primary nemesis: precious metals. Since the 1960s, the U.S. Treasury, bullion banks, Federal Reserve and other Western central banks have sold, swapped and leased gold to contain its price. In 1974, gold futures trading began on the COMEX in New York, allowing manipulators to create an endless supply “paper gold” to control the price of physical metal. Formed in 1999, the Gold Anti-Trust Action Committee (GATA) has documented the ongoing manipulation of the monetary metals while politicians and mainstream media organizations remain largely silent on the largest financial fraud in history. “There are no markets anymore, just interventions,” declared Chris Powell, GATA’s secretary/treasurer, in 2008. The evidence gathered by GATA is indisputable. Some is part of the public record, such as Alan Greenspan’s 1998 congressional testimony in which the former Federal Reserve chairman asserted “. . . central banks stand ready to lease gold in increasing quantities should the price rise.” Or the admission by Jeffrey Christian, managing director of the CPM Group, who during a 2010 Commodity Futures Trading Commission (CFTC) hearing on silver price manipulation stated precious metals “trade in the multiples of a hundred times the underlying physical [metal] . . .” Despite the extensive and growing body of proof, some continue to deny or disregard efforts to maintain the corrupt scheme. Ignoring the evidence, however, has become increasingly difficult as the spot, futures and retail price of gold and silver diverged in recent weeks. Sound money and free market advocates would do well to examine and disseminate the evidence in GATA’s archives. http://www.gata.org/taxonomy/term/21 They’ll discover rigging and suppression of constitutional money is more conspiracy than theory.
Printed with the permission of the author.
About the author
A veteran journalist and longtime libertarian, Stuart Englert is the author of “Rigged: Exposing the Largest Financial Fraud in History,” which was released in January. Englert’s book is available at: https://www.amazon.com/Rigged-Exposing-Largest-Financial-History/dp/1651405204/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=1586863366&sr=8-1
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