The Gold Cartel, Sex Scandals, and GATA

by Bill Murphy, GoldSeek:

Hello Everyone

It is much fun having the opportunity again to make a presentation here in Vancouver on behalf of The Gold Anti- Trust Action Committee … in order to expose the manipulation of the gold/silver markets by The Gold Cartel.

My first trip here was 19 years ago for an arranged meeting at the airport with Normandy Mining Chairman Robert Champion DeCrespigny on his way back to Australia. After flying all that way from Dallas, this arrogant man refused to see me. GATA went all that distance to help his firm, the gold industry, and the gold market … and he could have cared less about those issues and our effort. Little did we know back then this type of reception would become much the norm, as not.

What a journey it has been all these years.

What we have learned over this period time is how all encompassing the market manipulation schemes really are. Initially, we realized that various bullion banks (such as Goldman Sachs and JP Morgan) were collectively suppressing the gold price to keep it below $300 an ounce. Eventually we realized the manipulation extended to silver also AND included the Fed, The Treasury, Exchange Stabilization Fund, BIS and other central banks.

Over the many years it became apparent the market rigging extended even further to other financial markets … including acknowledged intervention in our bond market and clandestine operations in our stock market, marshaled by the infamous Plunge Protection Team. One of the first people to acknowledge the magnitude of it all was my colleague Chris Powell, who at GATA’s 2008 conference outside of Washington, D.C. came up with his great line, “There are no markets anymore, just interventions.”

For nearly 20 years Chris has been documenting the evidence of the intervention in the gold/silver markets by The Gold Cartel. It is all there on GATA’s website ( www.GATA.org) for anyone who wishes to get a grasp on how real and massive the intervention really is.

One of the most telling bits of evidence of what The Gold Cartel is all about emanates from one of the ringleaders of the scam, the Bank for International Settlements, which can be found at their own website. Regard what it explains to the investment world as one of their products:

And yet, incredibly enough, despite the obvious there are very few in the gold world who will touch the subject … THE most important one of ALL to those with any interest in the precious metals.

My role has been to chronicle the day to day activities of this cabal on my LeMetropoleCafe website, which many times are so blatant even a caveman could spot them. Our colleague James McShirley, a lumber company CEO with decades of experience in the futures market, has been invaluable in that regard. No other markets in history have traded the way gold and silver have … over, and over again, sometimes in the most absurd of fashions. The latest of which is the astonishing and unprecedented rise in the gold open interest on the Comex with The Gold Cartel doing the selling, and the hideous punishment of silver each time its price rises to $17.25.

Course many of you in this audience understand this and know of our efforts of nearly two decades to expose what will eventually become the most infamous financial market scandal in U.S. history.

As part of that effort…

*We have held 4 international conferences – in South Africa, Alaska, Washington D.C., and London.

At our 2005 Dawson City conference a senior economic advisor to Russia’s President Putin, Andrey Bykov, showed up and said it was the finest conference he ever attended.

The price of gold had been comatose.

Two days later the gold price began to take off.

Two months later this picture made the rounds:

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