Monday, October 12, 2009

Remarks to the 2009 New Orleans Investment Conference

Chris Powell

On Friday, September 25, Jim Rickards, director of market intelligence for the Omnis consulting firm in McLean, Va., was interviewed at length on the cable television network CNBC. Talking about the currency markets, Rickards remarked: "When you own gold you're fighting every central bank in the world."

That's because gold is a currency that competes with government currencies and influences interest rates and the prices of government bonds.

Of course such an assertion in itself was no surprise to my organization, the Gold Anti-Trust Action Committee. To the contrary, that assertion has been our premise for most of our 10 years and we have documented it extensively. It was spectacular that an analyst should have expressed it in the mainstream financial news media and have been allowed to keep talking. But since we met here in New Orleans last year there have been many spectacular disclosures of what central banks meant to be surreptitious intervention in the currency markets to suppress the price of gold -- particularly intervention by the central bank of the United States.

You may have heard GATA derided as a "conspiracy theory" organization. We're not that at all. To the contrary, we examine the public record, produce documentation, question public officials, and publicize their most interesting answers, or refusals to answer. I'd like to review the spectacular disclosures of the last year.

Remarks to the 2009 New Orleans Investment Conference

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