Why Is GATA So Angry?

The GATA (Gold Antitrust Action Committee) is set to take out a full page ad in the Wall Street Journal this Thursday according to this article by FN Arena News.

The Gold Antitrust Action Committee (GATA) is an organisation which has been nipping at the heels of the US Treasury Federal Reserve for several years now. The basis of GATA's accusations is that these institutions, in coordination with other complicit central banks and the large gold-trading investment banks in the US, have been manipulating the price of gold for decades. Were it not for this manipulation, the gold price would now likely be in the thousands of US dollars, GATA suggests.

The means of manipulation have largely revolved around the gold leasing and gold derivatives markets. GATA believes the US Treasury has been able to effectively sell gold under the radar of the limited disclosure rules of the International Monetary Fund - global bookkeeper of central bank gold transactions - for the purpose of artificially supporting the value of the US dollar. The upshot is that while the IMF, and the world, is led to believe global central bank gold reserves total some 30,000 tons, the reality is more like 15,000 tons. Today's gold price is a reflection of the former figure.

A PDF version of the ad can be found here.

Comments

[Golden Oxen:]

They are angry because it is against the law, and distorts and deceives for an evil purpose; the perpetuation of a fantasy fiat paper money system which is forbidden by the Constitution.

2008 Jan 30 11:21 PM

[ussmls7:]

It is out right stealing from Americans, to benifit central bankers, investment banks, by loaning them money at low rates, then the banks loaning to Americans at a high rate of interest. How can a bank loan you your own money, then chage you unreal rates. It is also forbidden by the Constitution.!!!
What will be the responce or excuse the Federal Reserve will give to say it is to busy to do a inventory of our nations wealth. There is none, all Americans should demand it, now.

2008 Jan 31 10:50 AM

[User 86999:]

Two references to constitution show up here. Anyone cares to QUOTE the exact verbiage or location where the concept occurs?

2008 Feb 03 08:19 AM