I am indebted to Ed Steer for highlighting the following article which appeared in his five days a week newsletter wherein he was interviewed by Dennis Miller on what is one of his favourite subjects – gold price manipulation – the why’s and wherefores. A link to the full article is here: Are the Central Banks Manipulating the Price of Gold?
In the interview Ed sets out what he sees as the incontrovertible evidence that central banks, via their bullion bank allies, do indeed manipulate the gold price, and the reasons for so doing – it is hugely profitable and they will also tell you they are helping prevent the whole global house of cards fiat currency systems from collapsing.
The views expressed in the Q&A session are contentious – most mainstream commentators are in denial as to whether this is actually taking place, although increasingly non-believers are coming around to accepting that at least some of the points noted by Ed – and by organisations like GATA who have been ploughing this furrow for many years – could well be taking place. The views certainly lend an understanding of some of the strange seemingly-concerted efforts to suppress the gold price as and when it looks like suddenly taking off, or to coincide with government and U.S. Fed data announcements and expressed opinions, often kicking in in concert with them – even before their actual release on occasion.
Do read the linked article. It is enlightening and certainly expresses a viewpoint which many see as key to where the gold price – and consequently other precious metals prices – are likely headed.