Tuesday, September 29, 2009

Gold: And the Fed manipulation machine

For those who still doubt that the price of gold is manipulated by the Central Banks and in particular by the Fed here in a document from 1975 that makes for interesting reading. Will gold's rise be managed this time round?... so far it has been but it only takes one Central Bank to start buying (none are selling) and the pressure will be on. These are high stakes, a rapid rise in the gold price will kill the bullion banks who are shorting.. there is the possibility of global dislocation... who will be winners and who losers? can the US$ be allowed to fall by as much as 50%? ...People hold your gold and buy more if you can..

Fed Arthur Burns on Gold 6 3 1975