December 31, 2008
Here is an article you may want to forward to your favorite mining CEO.
This article deals with the blatant manipulation that has been occurring in the gold and silver markets, and offers a solution. While this scandal has been going on for many years, at last more and more people are becoming aware that it is going on.
One of the first people to document the ongoing attempts to suppress the gold price was Frank Veneroso. Next was Bill Murphy of GATA.org. GATA continues to press the issue. Gata has discovered that the IMF instructed its member banks to treat gold that had been leased to bullion banks and sold into the market as if it were still in the vault! Imagine if an entrepreneur was running his business in this underhanded manner – how long would the government allow that?
A few years ago John Embry, while he was Portfolio Manager at RBC Global Investment Fund – a multi-billion dollar resource fund at the Royal Bank – prepared a memo for the bank’s clients that detailed the manipulation in the gold market.