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Gold market is manipulated, Grant Williams tells Lars Schall

5 hours 24 min ago

3:53p ET Sunday, November 23, 2014

Dear Friend of GATA and Gold:

Interviewed by the German financial journalist Lars Schall for Matterhorn Asset Management's Gold Switzerland, Singapore fund manager and "Things That Make You Go Hmmm. ..." letter editor Grant Williams says there's no doubt that the gold market is manipulated, that the only question is how much, and that because of central bank intervention there's not much left to free markets. Schall and Williams cover other subjects, including the nature of money, the abuse of money creation and credit, the likelihood of returning to a gold standard, and the Swiss Gold Initiative. The interview is an hour long and can be heard at Gold Switzerland here:

http://goldswitzerland.com/gold-is-a-belief-grant-williams/

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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http://www.gata.org/node/16

Senate report shows how easily banks can rig gold, copper, and other markets

10 hours 50 min ago

10:30a ET Sunday, November 23, 2014

Dear Friend of GATA and Gold:

The heavy involvement of investment banks in commodity trading creates the potential for market manipulation and conflicts of interest in the gold market, and exchange-traded gold funds may be mechanisms of market manipulation contrary to the basics of supply and demand, according to the 396-page report published last week by the Permanent Subcommittee on Investigations of the U.S. Senate's Committee on Homeland Security and Governmental Affairs.

GATA's friend J.H. points out these findings on Page 38 of the report:

"Possible conflicts of interest permeate virtually every type of commodity activity. If the bank's affiliate leases an electrical power plant, the bank may attempt to use regional pricing conventions to boost its profits, even at the expense of clients that pay the higher electricity costs. If the bank's affiliate mines coal while the bank trades coal swaps, the bank may ask its affiliate to store the coal rather than sell it to help restrict supplies, and benefit from long swap positions, while causing its counterparties to incur losses. If the bank's affiliate operates a commodity-based exchange-traded fund backed by gold, the bank may ask the affiliate to release some of the gold into the marketplace and lower gold prices, so that the bank can profit from a short position in gold futures or swaps, even if some clients hold long positions.

... Dispatch continues below ...


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"A fourth problem with mixing banking and commerce is that, in the context of physical commodities, it invites market manipulation and excessive speculation in commodity prices. If a bank's affiliate owns or controls a metals warehouse, oil pipeline, a coal-shipping operation, refinery, grain elevator, or exchange-traded fund backed by physical
commodities, the bank has the means to affect the marginal supply of a commodity and can use those means to benefit the bank's physical or financial commodities trading positions. If a bank's affiliate controls a power plant, the bank can 'manipulate the availability of energy for advantage' or to obtain higher profits."

And on Page 368: "At the same time, a commodity-backed ETF can have a significant impact on the price and volatility of the underlying commodity, even when a precious metal is involved. For example, gold-related ETFs first surfaced in 2004, with dozens of similar ETFs springing up over time. Today, it has become clear that significant movements in the gold-related ETFs have had direct impacts on the price of physical gold.

"As one analyst in the field noted: 'You watch the flow of money. ... No matter what the supply-and-demand fundamentals [for physical gold] may suggest, if that money’s flowing, those prices are going to move.'

"The Wall Street Journal cited as a possible explanation for the impact of gold ETFs on physical gold prices the relatively small size of the gold market, estimated at $236 billion in annual sales in 2012, and the ETFs' significant share of those sales."

Starting on Page 353, the report describes JPMorganChase's acquisition of the copper market, thanks in large part to an exemption from position limits granted by the Federal Reserve and Office of the Comptroller of the Currency to banks trading copper, an exemption previously granted only to banks trading gold and silver. The implication of the copper exemption is that the U.S. government decided that manipulating gold and silver prices was not enough if the major industrial metal was still able to trade freely and broadcast inflation signals as gold and silver also would do if they were traded freely.

Interesting as it is, the Senate report really has done little more than reiterate the old principle, the first premise of anti-trust law, that if a market participant is big enough, it can push any market around. Unfortunately that premise has been pretty much overlooked in the United States since Wall Street took over both major political parties.

Also unfortunately, if predictably, the Senate report does not touch on direct but surreptitious government intervention in the commodity markets, though sensational documentation of such recently became available, documentation that central banks and governments are receiviing volume discounts for surreptitiously trading all major commodity futures contracts in the United States:

http://www.gata.org/node/14385

http://www.gata.org/node/14411

Apparently the work of exposing that surreptitious intervention will continue to be left to outsiders like GATA.

The Senate report is posted at GATA's Internet site here:

http://www.gata.org/files/SenateReportOnBanks&Commodities-11-20-2014.pdf

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

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http://www.gata.org/node/16

AttachmentSize SenateReportOnBanks&Commodities-11-20-2014.pdf3.93 MB

New York Sun: Fair and balanced Fed?

12 hours 8 min ago

From the New York Sun
Sunday, November 23, 2014

So just where is Janet Yellen going by inviting left-wing groups into the boardroom of the Federal Reserve to give her their views on monetary policy? Is the Fed chairman prepared to extend the same courtesy to conservative groups?

Those questions are being raised after Mrs. Yellen and several other members of the central bank's board of governors met at Washington with a group of left-wing critics of the central bank. They are being raised by American Principles in Action, a right-of-center group that is mounting a campaign for sound money. ...

... For the remainder of the commentary:

http://www.nysun.com/editorials/fair-and-balanced-fed/88939/

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Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

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Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

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Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

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Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Central banks getting nervous about gold vaulted elsewhere, Turk tells KWN

Fri, 11/21/2014 - 23:41

10:42p ET Friday, November 21, 2014

Dear Friend of GATA and Gold:

Concerns about the fractional-reserve gold banking system will increase because of the Netherlands central bank's repatriation of gold from the U.S. Federal Reserve, GoldMoney founder and GATA consultant James Turk tells King World News tonight. "People are getting nervous" about gold vaulted with others, Turk says, and central banks making contingency plans for their currencies need to ensure that they control their gold. An excerpt from the interview is posted at the KWN blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/11/21_E...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Sunday-Monday, January 18-19,2015

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* * *

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Ronan Manly: Swiss gold vote likely tighter than polls suggest

Fri, 11/21/2014 - 17:39

4:37p ET Friday, November 21, 2014

Dear Friend of GATA and Gold:

GoldCore analyst and GATA consultant Ronan Manly today provides a detailed analysis of the opinion polls that seem to be moving against the Swiss Gold Initiative, and he raises a compelling question: While the Swiss National Bank complains that the initiative would severly limit its monetary policy options, the initiative gives the bank five years for compliance, so just how long does the bank intend to chain the Swiss franc to a depreciating euro?

Manly's commentary is headlined "Swiss Gold Vote Likely Tighter than Polls Suggest" and it's posted at GoldCore here:

http://www.goldcore.com/goldcore_blog/Swiss_Gold_Poll_Likely_Tighter_Tha...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

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Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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To contribute to GATA, please visit:

http://www.gata.org/node/16

Dutch leaving plenty of gold abroad and it's probably gone, von Greyerz says

Fri, 11/21/2014 - 17:23

4:23p ET Friday, November 21, 2014

Dear Friend of GATA and Gold:

King World News notes today that Swiss gold fund manager Egon von Greyerz, a leader of the Swiss Gold Initiative, remarked to KWN a month ago that another European central bank was repatriating gold from the United States. The Netherlands central bank made such an announcement today.

But von Greyerz scoffs at the bank's assertion that the repatriation will build public confidence, since 69 percent of the Netherlands gold reserve will remain vaulted abroad and probably is not really vaulted with its nominal custodians but more likely has been whisked off to Asia through gold lending.

An excerpt from von Greyerz's interview is posted at the KWN blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/11/21_M...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Citing risks, Fed may limit Wall Street role in commodities

Fri, 11/21/2014 - 17:14

By Cheyenne Hopkins and Silla Brush
Bloomberg News
Friday, November 21, 2014

WASHINGTON -- The Federal Reserve may curtail Wall Street commodity businesses after lawmakers said banks' role in energy, power, and metals markets spurred unfair trading advantages and could threaten financial stability.

At a Senate hearing today, Fed Governor Daniel Tarullo said curbs under consideration include ownership limits, restricting how much revenue can be derived from commodities, and requiring Wall Street firms to boost capital. He said the new rules, to be proposed early next year, could restrict banks from investing in oil tankers, coal mines, and other businesses involved in physical commodities.

"We are focusing on the risk to safety and soundness presented by specific activities and on whether those risks can be appropriately and adequately mitigated," Tarullo said at the hearing held by the Senate Permanent Subcommittee on Investigations. ...

... For the remainder of the report:

http://www.bloomberg.com/news/2014-11-21/fed-faces-pressure-to-rein-in-w...

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Sunday-Monday, January 18-19,2015

http://cambridgehouse.com/event/33/vancouver-resource-investment-confere...

* * *

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

'Immoral but not illegal': Metal warehousing games in the spotlight

Fri, 11/21/2014 - 17:06

By Josephine Mason
Reuters
Friday, November 21, 2014

NEW YORK -- Complex deals employed by Goldman Sachs' metals storage unit to build vast stockpiles and then maintain queues test the spirit of the London Metal Exchange operating code, shocking many traders and confirming others' suspicions.

But the intricate transactions that saw Metro International Trade Services shell out millions of dollars to customers to join exit queues to bolster rental income was within the rules, according to two senior warehousing executives and two veteran traders.

An explosive U.S. Senate report released on Wednesday revealed the "imaginative" methods used to lure millions of tons of aluminum into Detroit, Metro's headquarters, and then keep it there over the past four years. ...

... For the remainder of the report:

http://www.reuters.com/article/2014/11/21/us-commodities-banks-goldman-w...

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1055 Canada Place, Vancouver, British Columbia, Cananda
Sunday-Monday, January 18-19,2015

http://cambridgehouse.com/event/33/vancouver-resource-investment-confere...

* * *

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Bank of England probes whether staff helped rig money auctions

Fri, 11/21/2014 - 17:03

Caroline Binham and Patrick Jenkins
Financial Times, London
Friday, November 21, 2014

The Bank of England has opened a formal investigation into whether its officials knew of -- and even facilitated -- the possible manipulation of auctions designed to inject money into the credit markets to alleviate the financial crisis.

The probe, which started in the summer, has been revealed just a week after the UK central bank published a report that criticised its own response to the foreign exchange rigging scandal. ...

... For the remainder of the report:

http://www.ft.com/intl/cms/s/0/4709a00e-71a4-11e4-b178-00144feabdc0.html...

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Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

Vancouver Resource Investment Conference
Vancouver Convention Centre West
1055 Canada Place, Vancouver, British Columbia, Cananda
Sunday-Monday, January 18-19,2015

http://cambridgehouse.com/event/33/vancouver-resource-investment-confere...

* * *

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Dave Kranzler: Was GLD gold moved to the Dutch central bank?

Fri, 11/21/2014 - 16:22

3:22p ET Friday, November 21, 2014

Dear Friend of GATA and Gold:

Sharp-eyed Dave Kranzler of Investment Research Dynamics notes that the gold announced today to have been repatriated by the Netherlands central bank nearly matches the recent decline in tonnage held by the gold exchange-traded fund GLD. Kranzler's commentary is headlined "Was GLD Gold Moved to the Dutch Central Bank?" and it's posted at Investment Research Dynamics here:

http://investmentresearchdynamics.com/was-gld-gold-moved-to-the-dutch-ce...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Vancouver Convention Centre West
1055 Canada Place, Vancouver, British Columbia, Cananda
Sunday-Monday, January 18-19,2015

http://cambridgehouse.com/event/33/vancouver-resource-investment-confere...

* * *

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Indian central bank cautious on response to gold import surge

Fri, 11/21/2014 - 14:57

By Suvashree Choudhury and Neha Dasgupta
Reuters
Friday, November 21, 2014

MUMBAI, India -- The Reserve Bank of India, grabbling with a surge in gold imports last month, could support some restrictions for trading houses but two senior policymakers involved in the bank's decision-making said officials were also wary of overreacting. ...

A senior finance ministry source told Reuters on Tuesday the country would soon announce measures set to center on import restrictions for private trading house that were eased earlier this year. Private jewellery exporters account for the bulk of demand for gold.

But the country has yet to announce any steps, and the two policymakers said on Friday there was no agreement yet. "No decision has yet been taken on curbing gold imports," said one of the policy makers, who declined to be named. ...

... For the remainder of the report:

http://in.reuters.com/article/2014/11/21/india-rbi-gold-idINKCN0J51JE201...

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Mines and Money London
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Sunday-Monday, January 18-19,2015

http://cambridgehouse.com/event/33/vancouver-resource-investment-confere...

* * *

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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To contribute to GATA, please visit:

http://www.gata.org/node/16

FT's Gillian Tett notes Greenspan's renewed endorsement of gold

Fri, 11/21/2014 - 14:53

Gold: Worth Its Weight?

By Gillian Tett
Financial Times, London
Friday, November 21, 2014

A decade ago, when Alan Greenspan was chairman of the mighty Federal Reserve, he was infamous for delivering ambiguous, Delphic speeches that nobody could understand. No longer. I recently had a chance to interview Greenspan, 88, at the Council on Foreign Relations, regarding an updated version of his latest book.

These days the retired Greenspan speaks so clearly that some of his words are still ricocheting around the blogosphere. For what he revealed on the CFR platform was that he harbours considerable doubts about whether recent Western monetary policy experiments have actually helped economic growth. He also fears that such experiments have been so wild that it will be very hard to exit from these policies in the future -- in the US or anywhere else -- without sparking huge market volatility.

Indeed, Greenspan is so worried about future turbulence that he apparently sympathises with investors (and central banks) who are stocking up on gold. ...

... For the remainder of the commentary:

http://www.ft.com/intl/cms/s/0/4526301c-7042-11e4-bc6a-00144feabdc0.html...

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Mines and Money London
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Vancouver Convention Centre West
1055 Canada Place, Vancouver, British Columbia, Cananda
Sunday-Monday, January 18-19,2015

http://cambridgehouse.com/event/33/vancouver-resource-investment-confere...

* * *

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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To contribute to GATA, please visit:

http://www.gata.org/node/16

Russia, China will accuse U.S. of gold scam, bullion dealer tells KWN

Fri, 11/21/2014 - 12:00

11a ET Friday, November 21, 2014

Dear Friend of GATA and Gold:

Montana coin and bullion dealer Steve Quayle, whose motto is "If You Can't Touch It, You Don't Own It," tells King World News today that Russia and China soon will tell the world that the United States doesn't have the gold it claims to have. An excerpt from the interview is posted at the KWN blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/11/21_C...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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* * *

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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To contribute to GATA, please visit:

http://www.gata.org/node/16

Top-performing gold miner readies warchest in bust industry

Fri, 11/21/2014 - 11:52

By Thomas Biesheuvel
Bloomberg News
Friday, November 21, 2014

LONDON -- The gold industry is a "busted flush," said Mark Bristow, surveying the ruin wrought by a 38 percent slump in the bullion price from a 2011 peak. For the Randgold Resources Ltd. chief executive officer, that's an opportunity.

"This is an exciting time," Bristow said in an interview at his London office near the Savoy Hotel. "The industry blows its brains out every time. The reason we're still in the industry is because the competition isn't that sharp."

The world's biggest gold miners racked up $30 billion of debt during a 12-year-bull run for the precious metal that spurred acquisitions and new mines. That has become a millstone as costs escalate and gold tumbled from a record $1,921.17 an ounce in September 2011 to $1,189.62 in London today.

Randgold, the best performing gold miner in the past decade, is debt free and profitable at current gold prices, said Bristow, who has a war chest of $500 million to $700 million to acquire assets from floundering rivals. ...

... For the remainder of the report:

http://www.bloomberg.com/news/2014-11-21/top-performing-gold-miner-prepa...

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Sunday-Monday, January 18-19,2015

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* * *

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

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http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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Alasdair Macleod: That G-20 meeting

Fri, 11/21/2014 - 11:18

10:18a ET Friday, November 21, 2014

Dear Friend of GATA and Gold:

With economies declining nearly everywhere, GoldMoney research director Alasdair Macleod writes today, the recent G-20 meeting in Brisbane may have given a boost to government intervention.

Macleod writes: "We might look back on Brisbane as a milestone in global economic policy, when governments and central banks changed the emphasis of economic management from monetary stimulation through the financial system toward a greater emphasis on direct government intervention. In the process two things are likely to happen: Currencies will begin to lose their purchasing power with respect to everyday goods, and government bond yields are likely to rise, undermining financial asset valuations. ... It will be very good for inflation hedges like gold."

Macleod's commentary is headlined "That G-20 Meeting" and it's posted at GoldMoney here:

http://www.goldmoney.com/research/analysis/that-g20-meeting?gmrefcode=ga...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Sunday-Monday, January 18-19,2015

http://cambridgehouse.com/event/33/vancouver-resource-investment-confere...

* * *

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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To contribute to GATA, please visit:

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Netherlands starts repatriating gold

Fri, 11/21/2014 - 09:48

8:45a ET Friday, November 21, 2014

Dear Friend of GATA and Gold:

The central bank of the Netherlands announced today that it is repatriating much of its gold from abroad.

Bullion Star market analyst and GATA consultant Koos Jansen covers the announcement here:

https://www.bullionstar.com/blog/koos-jansen/the-netherlands-has-repatri...

MarketWatch reports about it here:

http://www.marketwatch.com/story/dutch-central-bank-repatriates-some-gol...

A Dutch newspaper, De Volkskrant, offers this, which, if opened in Google Chrome, can be automatically translated to English:

http://www.volkskrant.nl/economie/nederlands-goud-in-het-geheim-verhuisd...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Mines and Money London
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1055 Canada Place, Vancouver, British Columbia, Cananda
Sunday-Monday, January 18-19,2015

http://cambridgehouse.com/event/33/vancouver-resource-investment-confere...

* * *

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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Swiss gold exports rise as referendum campaign leader is blocked from TV debate

Thu, 11/20/2014 - 20:37

7:35p ET Thursday, November 20, 2014

Dear Friend of GATA and Gold:

Net exports of gold from Switzerland increased to 100 tonnes in October, Bullion Star market analyst and GATA consultant Koos Jansen reports tonight, with most of it going to China and India. Jansen's analysis is posted at Bullion Star here:

https://www.bullionstar.com/blog/koos-jansen/switzerland-net-exports-100...

And a leader of the Swiss Gold Initiative referendum campaign, Luzi Stamm, tells King World News tonight that he was barred from participating in the debate on the initiative broadcast on national television in Switzerland. Stamm describes the overwhelming attack on the initiative by the country's political and financial establishment. An excerpt from the interview is posted at the KWN blog here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/11/20_S...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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1055 Canada Place, Vancouver, British Columbia, Cananda
Sunday-Monday, January 18-19,2015

http://cambridgehouse.com/event/33/vancouver-resource-investment-confere...

* * *

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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To contribute to GATA, please visit:

http://www.gata.org/node/16

On night before hearing, Fed asks if it's too much the tool of investment banks

Thu, 11/20/2014 - 20:20

Fed Asks Whether It Is Too Close to Banks

By Gina Chon
Financial Times, London
Thursday, November 20, 2014

WASHINGTON -- The Federal Reserve Board is conducting a major review of how the regulator and its reserve banks supervise large financial institutions, amid mounting criticism that it is to close to and too lenient with the Wall Street groups it oversees.

News of the inquiry, announced today, came a day before two top officials, Fed Governor Dan Tarullo and New York Fed president William Dudley, are due to testify in separate Senate hearings into regulatory oversight practices.

"One subset of this system-wide inquiry will analyse regulatory capture," Mr Dudley said in written testimony that will be presented at Friday's hearing. ...

... For the remainder of the report:

http://www.ft.com/intl/cms/s/0/7849eeee-70ff-11e4-85d5-00144feabdc0.html...


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1055 Canada Place, Vancouver, British Columbia, Cananda
Sunday-Monday, January 18-19,2015

http://cambridgehouse.com/event/33/vancouver-resource-investment-confere...

* * *

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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To contribute to GATA, please visit:

http://www.gata.org/node/16

Netherlands TV network highlights Koos Jansen in program on gold

Thu, 11/20/2014 - 16:40

3:40p ET Thursday, November 20, 2014

Dear Friend of GATA and Gold:

GATA consultant and Bullion Star market analyst Koos Jansen got a prominent place this week in a report on gold broadcast on the "Een Vendaag" ("One Today") news program of the Netherlands public television network, Nederland 1. The program had a nationwide audience in the Netherlands. It covered the Swiss Gold Initiative, substantial gold buying by China and Russia, the German Bundesbank's attempt to repatriate its gold from the Federal Reserve Bank of New York, and the possibility of a transformation of the world financial system that would reintroduce gold in some form. The program is not quite 8 minutes long and can be viewed at Bullion Star's Internet site here:

https://www.bullionstar.com/blog/koos-jansen/dutch-mainstream-tv-covers-...

The program is in Dutch but you can activate excellent English substitles by clicking on the "CC" botton at the bottom of the YouTube window.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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Silver mining stock report comes with 1-ounce silver round

Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal in 2014, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit:

http://fmturl.com/gata/


Join GATA here:

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

Vancouver Resource Investment Conference
Vancouver Convention Centre West
1055 Canada Place, Vancouver, British Columbia, Cananda
Sunday-Monday, January 18-19,2015

http://cambridgehouse.com/event/33/vancouver-resource-investment-confere...

* * *

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

New scrutiny of Goldman's ties to N.Y. Fed after a leak

Thu, 11/20/2014 - 13:22

By Jessica Silver-Greenberg, Ben Protess, and Peter Eavis
The New York Times
Thursday, November 20, 2014

From his desk in Lower Manhattan, a banker at Goldman Sachs thumbed through confidential documents -- courtesy of a source inside the United States government.

The banker came to Goldman through the so-called revolving door, the symbolic portal that connects financial regulators to Wall Street. He joined in July after spending seven years as a regulator at the Federal Reserve Bank of New York, the government's front line in overseeing the financial industry. He received the confidential information, lawyers briefed on the matter suspect, from a former colleague who was still working at the New York Fed.

The previously unreported leak, recounted in interviews with the lawyers briefed on the matter who spoke anonymously because the episode is not public, illustrates the blurred lines between Wall Street and the government -- and the potential conflicts of interest that can result. When Goldman hired the former New York Fed regulator, who is 29, it assigned him to advise the same type of banks that he once policed. And the banker obtained confidential information, along with several publicly available facts, in the course of assignments from his bosses at Goldman, the lawyers said. ...

... For the remainder of the report:

http://dealbook.nytimes.com//2014/11/19/rising-scrutiny-as-banks-hire-fr...

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Please call 1-800-869-5115x100 and ask for the trading desk, or visit USAGold.com.

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Join GATA here:

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

Vancouver Resource Investment Conference
Vancouver Convention Centre West
1055 Canada Place, Vancouver, British Columbia, Cananda
Sunday-Monday, January 18-19,2015

http://cambridgehouse.com/event/33/vancouver-resource-investment-confere...

* * *

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

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