Thread by @myprecious999

Government #gold #silver price manipulation

-explained by #Gold Anti-Trust Action Committee (#GATA) during #SilverFest

-refer thread for selected sound bytes

1/ “When GATA got started in 1999 nearly all market participants insisted that the #gold market was not being manipulated... Today most respectable market participants acknowledge that most markets are indeed manipulated by governments”
- 06:10

2/ “In 2001 our consultant extracted from an assistant US attorney that the $Gold Reserve Act of 1934... does indeed empower the US Government to rig the #Gold market
- 05:23

3/ “If you visit the exchange stabilization fund page at the Treasury Dept Internet site, you may see that the Treasury Dept considers the Gold Reserve Act to authorised it to rig not just the gold market by any market in the world

4/ “Intervention in the gold market by the BIS... has reached the highest level in the last 2 years... The BIS functions as agent or broker for its member central banks in purchasing, lending and swapping gold among its members - 03:38

5/ “In doing so the BIS provides camouflage to the interventions of its member central banks so they do not have to transact directly with #bullion #banks and run the greater risk of being exposed publicly

6/ “Indeed #GATA has obtained and posted BIS documents showing that the Bank considers that its major purpose to be to help its member central banks to control the #gold price

7/ “Volatility has increase dramatically but smashdowns no longer have much effect... in recent years smashdowns could restrain prices for weeks or months, now they see prices bouncing back within a day or two. Somebody seems to be using the dips to purchase real metal -2:20

8/ #Comex futures market has been transformed from almost entirely paper to largely physical markets. Meanwhile London #gold & #silver markets are having trouble delivering metal - 1:18

9/ A few weeks ago #Comex quietly implemented a vast explosion of the eligible mints of $gold bars acceptable for gold futures contracts delivery. Some of these mints are no longer operating! That suggests they are having a hard time getting their hands on real metal - 1:52

10/ The ETF GLD appears to be storing increasing amounts of its $gold at the Bank of England even though its prospectus requires the fund’s metal to be immediately transferred to the Vaults of the fund’s own custodian HSBC - 3:10

11/ This suggests that the (GLD) fund is increasingly using borrowed central bank gold to balance its accounts

12/ In May this year.. University of Sussex business school researchers concluded that the $gold futures market is indeed manipulated contrary to regulations but that market regulators are overlooking it - 4:35

13/ In the last year the CFTC has repeatedly refused to answer a critical question put to it by #GATA and US Rep Alex Mooney: “Is the Futures market manipulation undertaken by a broker or agent for the US Govt subject to the Commission’s jurisdiction? Is it legal?

14/ Since the CFTC refuses to answer even a member of Congress you may fairly assume that the Commission considers manipulation by the US Government to be perfectly legal
- 4:44

15/ We at #GATA tend to expect another international currency revaluation in the next few years or as soon as the next few weeks. Something like that likely will be announced on a Sunday night before the Asian markets open
- 6:52