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GATA Thread

Postby Pixel8r » Tue Dec 08, 2009 1:21 pm

The Gold Anti-Trust Action Committee (GATA) have been working tirelessly for years trying to put and end to the governments manipulation of the gold market. Use this thread to post links or discuss their article and news releases.

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Gold suppression is public policy and public record, not 'conspiracy theory'

The above is a speech given by Chris Powell at the International Precious Metals and Commodities Show Olympia Park, Munich, Germany on Saturday, November 7, 2009.
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Re: GATA Thread

Postby Pixel8r » Tue Dec 08, 2009 1:22 pm

Asia Confidential - Bernie Lo interviews Bill Murphy, Chairman of GATA November 19, 2009:

[youtube]rw4T6IdHJ3w[/youtube]

[youtube]06_NMci4xnw[/youtube]

[youtube]OYiQZzbzeXo[/youtube]
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Re: GATA Thread

Postby Pixel8r » Tue Dec 08, 2009 10:32 pm

Gold's new rise compared, contrasted with that of '70s
Submitted by cpowell on Tue, 2009-12-08 16:00. Section: Daily Dispatches

That '70s Show: Gold Prices' Surge

While Parallels Exist, New Factors Could Make High Prices More Sustainable Now and Limit Falls When They Come

By Devon Maylie
The Wall Street Journal
Monday, December 7, 2009


LONDON -- As gold prices continue their bull run despite a pullback at the end of last week, market participants wonder if they are going to see a repeat of the 1970s.

During that decade, the price of gold soared by a factor of 24 times, peaking at $850 per troy ounce in 1980, then crashed, losing 65% of its value in two years.

Gold rose to a record $1,226.30 an ounce Thursday, putting the price at about four times its average level at the start of this decade. Gold fell sharply Friday, closing at $1,168.80 on the Comex division of the New York Mercantile Exchange.

Some of the factors that have determined gold prices were present in the late 1970s. But others, such as a sharp slowdown in selling of gold by central banks and the risks to global economic recovery, weren't. These new factors could make high prices more sustainable and limit falls when they come, analysts said.

In percentage terms, the current rally can't compare with the 1970s. The degree of that rise was due partly to the end of the Bretton Woods fixed exchange system in 1971, which unlinked the dollar from its peg to gold, freeing the metal from a fixed price of $35 an ounce. A selloff of gold came when interest rates rose and monetary policy tightened in the early 1980s. After the price of gold dropped by two-thirds, it languished around $300 an ounce until the next bull run began in 2000.

More...
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Re: GATA Thread

Postby Pixel8r » Wed Dec 09, 2009 11:08 pm

Two interesting articles by Adrian Douglas about the LBMA operating fractional reserve banking with gold supplies.

Adrian Douglas: How much imaginary gold has been sold?

This would imply that the liability for unallocated gold that has been sold is probably closer to 150,000 tonnes (taking the more conservative 10 percent figure), but the liability is backed by a totally inadequate maximum of only 15,000 tonnes of physical gold. So it's likely that between 45,000 and 135,000 tonnes of unallocated gold has been sold that does not exist.

This is between 50 and 170 percent of the entire existing investment gold stock that has taken 6,000 years to mine and accumulate.


Adrian Douglas: How much imaginary gold has been sold? Part 2

Anyone who suggests gold is in a bubble at $1,000 does not have a clue what he is talking about.

If 60,000 tonnes of imaginary gold has been sold in a market that has a total stock of 160,000 tonnes, there is no question that the gold price has been suppressed, as long stated by GATA. No further debate is required on the subject.

If the OTC market has a 100 percent reserve ratio, let its managers state it publicly under oath and agree to an audit. Let them also explain how recent transactions could not be met without central bank leasing and why cash settlement with generous premiums was offered instead of physical gold delivery.

As Warren Buffett famously said, "When the tide goes out you get to see who's swimming naked." The tide is going out on the Anti-Gold Cartel.
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Re: GATA Thread

Postby Chris_ct » Sat Dec 12, 2009 1:57 pm

Very long, but just about the best analysis I have found on Central Bank/Bullion bank price manipulation and physical sales....

http://www.gata.org/node/5275
Facts, Evidence and Logical Inference
A Presentation On Gold Supply/Demand, Gold Derivatives and Gold Loans

By Frank A. J. Veneroso

INTRODUCTION Currently head of Veneroso Associates, formerly partner of the hedge fund Omega Advisors where he was responsible for global investment policy formulation. Through his own firm, Mr. Veneroso has been an investment and economic adviser in investment strategy to institutions and governments around the world in the areas of money and banking, financial instability and crisis, privatization, and development and globalization of securities markets. His clients have included the World Bank, the International Finance Corporation, The Organization of American States.


He has advised the Governments of Bahrain, Brazil, Chile, Ecuador, Korea, Mexico, Peru, Portugal, Thailand, Venezuela and the United Arab Emeritus.


Frank is a graduate from Harvard and has authored many articles on the subjects of international finance.
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Re: GATA Thread

Postby Pixel8r » Wed Dec 30, 2009 11:46 pm

GATA distributes international press release on lawsuit vs. Fed

Submitted by cpowell on 03:37PM ET Wednesday, December 30, 2009. Section: Daily Dispatches
GATA Press Release via Business Wire

GATA Sues Federal Reserve to Disclose
Gold Market Intervention Records

Wednesday, December 30, 2009

http://www.businesswire.com/portal/site ... d=news_v...

The Gold Anti-Trust Action Committee Inc. today brought suit against the U.S. Federal Reserve Board, seeking a court order for disclosure of the central bank's records of its surreptitious market intervention to suppress the monetary metal's price.

The suit was filed in U.S. District Court for the District of Columbia and targets Fed records involving gold swaps, exchanges of gold with foreign financial institutions. In a letter dated September 17 this year to GATA's law firm, William J. Olson P.C. of Vienna, Virginia, (http://www.lawandfreedom.com) Fed Board of Governors member Kevin M. Warsh acknowledged that the Fed has gold swap agreements with foreign banks but insisted that such documents remain secret:

http://www.gata.org/files/GATAFedRespon ... 7-2009.pdf

The lawsuit follows two years of GATA's efforts to obtain from the Federal Reserve and the U.S. Treasury Department a candid accounting of the U.S. government's involvement in the gold market. These efforts parallel those of U.S. Rep. Ron Paul, R-Texas, who long has been proposing legislation to audit the Fed. The Fed has been criticized for secrecy in its massive intervention in the markets over the last year, and Paul's legislation recently was approved by the U.S. House of Representatives.

In correspondence with GATA's lawyers, the Fed has claimed that its gold swap records involve "trade secrets" exempt from disclosure under the U.S. Freedom of Information Act.

GATA Secretary/Treasurer Chris Powell said:

"While GATA has produced many U.S. government records showing both open and surreptitious intervention in the gold market in recent decades (see http://www.gata.org/node/8052), Fed Governor Warsh's letter is confirmation that the government is surreptitiously operating in the gold market in the present as well. That intervention constitutes a huge deception of financial markets as well as expropriation of precious metals miners and investors particularly. This deception and expropriation are what GATA was established in 1999 to expose and oppose.

"Of course GATA's lawsuit against the Fed will take months if not years to resolve. We think we have a good chance of winning it in court. But we can win it outside court, and much sooner, if the suit can gain enough publicity from the financial news media and market analysts and prompt enough inquiry from them and from the public, the mining industry, and members of Congress.

"So GATA urges its friends to publicize the suit and to urge journalists, market analysts, mining companies, and members of Congress to join us in seeking disclosure of the Fed's gold market intervention records. If enough clamor is directed at the Fed about these records, the gold price suppression scheme will lose its surreptitiousness and fail.

"Unfortunately the World Gold Council, which each year collects tens of millions of dollars in membership fees from mining companies in the name of representing them and gold investors, refuses to question governments about their surreptitious interventions in the gold market. These interventions powerfully influence not only gold's price but the prices of government bonds and currencies, as well as interest rates generally and the value of all capital and labor in the world. There is no more important issue in the world economy than gold price suppression.

"So what should have been the World Gold Council's work has fallen to GATA, a non-profit educational and civil rights organization that operates from month to month on donations from people who share its objective -- free and transparent markets in the precious metals and fair dealing among nations generally. As we prosecute our lawsuit against the Fed, we'll be grateful for your support. We promise to do something with it."

For information about supporting GATA, please visit:

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

GATA's lawsuit against the Fed is listed in federal court records as civil case No. 09-2436 ESH, the letters being the initials of the district court judge assigned to it, Ellen S. Huvelle.

The lawsuit can be found here:

http://www.gata.org/files/GATALawsuitVs ... 0-2009.pdf
"Money is Gold, and nothing else"
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Re: GATA Thread

Postby fwiw » Thu Dec 31, 2009 9:52 am

Zero hedge also reporting same story as above here:

http://www.zerohedge.com/article/gata-s ... on-records
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Re: GATA Thread

Postby Pixel8r » Thu Dec 31, 2009 9:56 am

Zero Hedge praises GATA's lawsuit against Fed

Submitted by cpowell on 05:11PM ET Wednesday, December 30, 2009. Section: Daily Dispatches
8p ET Wednesday, December 30, 2009

Dear Friend of GATA and Gold:

Zero Hedge's Tyler Durden, aka Dan Ivandjiiski, perhaps Wall Street's most troublesome and informed critic, tonight gives extensive treatment and enthusiastic endorsement to GATA's freedom-of-information lawsuit against the Federal Reserve. The lawsuit seeks access to the Fed's records of surreptitious gold market intervention.

The Zero Hedge commentary may note better than GATA's lawsuit announcement did how the Fed has become an instrument of totalitarianism and international class war -- the war of the moneyed class on the working class.

We're deeply grateful to Zero Hedge, whose own remarkable research this year uncovered several important documents confirming a long history of gold market rigging by the U.S. government, documents GATA has incorporated into its work.

You can find the Zero Hedge commentary here
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Re: GATA Thread

Postby Pixel8r » Thu Dec 31, 2009 9:38 pm

"Nobody will ever say that Bill and Chris lack cojones." … Jim Sinclair, December 30, 2009
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Re: GATA Thread

Postby InSilverWeTrust » Fri Jan 01, 2010 2:51 am

I rest my case!

But why do they make it so obvious???

Pix it would be very interesting if you could post a daily chart of silver for the last ....months!

then post it on the paper bug's site!
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Re: GATA Thread

Postby Pixel8r » Fri Jan 01, 2010 8:57 am

Korelin Economics Report interviews GATA's Powell on Fed lawsuit

Submitted by cpowell on 06:45PM ET Thursday, December 31, 2009. Section: Daily Dispatches
9:45p ET Thursday, December 31, 2009

Dear Friend of GATA and Gold:

Al Korelin of the Korelin Economics Report interviewed your secretary/treasurer for a few minutes yesterday about GATA's federal lawsuit against the Federal Reserve seeking disclosure of the Fed's international gold swap agreements. You can listen to the interview at the Korelin Internet site here:

http://www.kereport.com/dailyshow/dailyupdate-dec3109-seg1.html
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Re: GATA Thread

Postby Pixel8r » Fri Jan 01, 2010 9:06 am

InSilverWeTrust wrote:I rest my case!

But why do they make it so obvious???

Pix it would be very interesting if you could post a daily chart of silver for the last ....months!

then post it on the paper bug's site!

I quiet often look at the point a figure one for silver, as it filters out the volatility noise.

Bullish Price Objective : $26

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Re: GATA Thread

Postby Chris_ct » Fri Jan 01, 2010 9:35 am

PIXEL8R: I DO NOT APPRECIATE THAT YOU AMPUTATED 3/4 OF MY POST ON THE VENEROSO PRESENTATION. I WAS TRYING TO DOCUMENT IT HERE FOR A REASON. I DO NOT POST LONG ARTICLES NORMALLY AND DO NOT EXPECT TO BE CENSORED WHEN I DO. I AM AFRAID I AM NOT GOING TO BOTHER ANY MORE. IT TOOK ME A LONG TIME TO GATHER ALL THOSE IMAGES.

NO WARNING OR EVEN A MESSAGE, JUST CUT MY POST WHY DONT YOU?
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Re: GATA Thread

Postby Pixel8r » Fri Jan 01, 2010 9:47 am

Chris_ct wrote:PIXEL8R: I DO NOT APPRECIATE THAT YOU AMPUTATED 3/4 OF MY POST ON THE VENEROSO PRESENTATION. I WAS TRYING TO DOCUMENT IT HERE FOR A REASON. I DO NOT POST LONG ARTICLES NORMALLY AND DO NOT EXPECT TO BE CENSORED WHEN I DO. I AM AFRAID I AM NOT GOING TO BOTHER ANY MORE. IT TOOK ME A LONG TIME TO GATHER ALL THOSE IMAGES.

NO WARNING OR EVEN A MESSAGE, JUST CUT MY POST WHY DONT YOU?

I sent you this PM on the 13th of December, but you didn't reply;

Subject: GATA Thread

Chris_ct wrote:Very long, but just about the best analysis I have found on Central Bank/Bullion bank price manipulation and physical sales....

http://www.gata.org/node/5275
Facts, Evidence and Logical Inference
A Presentation On Gold Supply/Demand, Gold Derivatives and Gold Loans

By Frank A. J. Veneroso

Hi Chris,

Would you mind if I edited your the post above, to reduce the length of it?

Please have a read of this thread - viewtopic.php?f=7&t=31

I am trying to make sure the site doesn't get filled up with very long posts that could possibly be infringing copyright. In my thread above I mention how I think long articles should be posted on the site. If they are online on other sites, there seems little need to quote the entire article on this one.

Please have a read of my thread above, I would have no problem editing your post for you.
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Re: GATA Thread

Postby Pixel8r » Thu Jan 21, 2010 9:41 am

Is there gold in Fort Knox?

Submitted by cpowell on 07:04PM ET Wednesday, January 20, 2010. Section: Daily Dispatches
By Constance Gustke
CBS MoneyWatch
Wednesday, January 20, 2010


http://moneywatch.bnet.com/economic-news/article/is-there-gold-in-fort-knox/385523/?tag=col1;economic-news-river

Buried inside a 109,000-acre U.S. Army post in Kentucky sits one of the Federal Reserve's most secure assets and its only gold depository: the 73-year-old Fort Knox vault. Its glittering gold bricks, totaling 147.3 million ounces (that's about $168 billion at current prices), are stacked inside massive granite walls topped with a bombproof roof. Or are they?

It's hard to know for sure. Few people have been inside Fort Knox, a highly classified bunker ringed by fences and multiple alarms and guarded by Apache helicopter gunships. When the U.S. finished building Fort Knox in 1937, the gold was shipped in on a special nine-car train manned by machine gunners and loaded onto Army trucks protected by a U.S. Calvary brigade. And the fort has been pretty much off limits since then. A U.S. Mint spokesman said in an email statement to MoneyWatch that the accounting firm KPMG, which audits the Mint, "has been present in the vault at Fort Knox." The Mint won't comment on exactly how much gold is in there, though.

That's why U.S. Rep. Ron Paul, R-Texas, a 2008 presidential candidate known for his libertarian streak, wants to have a look around. Paul introduced a bill to audit the Federal Reserve, which includes Fort Knox's gold. "My attitude is: Let's just find out what's there," he says.

Despite conspiracy theories to the contrary, no serious Fed watcher thinks Fort Knox is wholly goldless â?? not even Paul. The push by Paul and a conspiracy-theorist group known as Gold Anti-Trust Action Committee (GATA) to open Fort Knox's 22-ton door is more about their loathing of the Federal Reserve and its purported growing powers. "The gold market is being manipulated by the Fed," says GATA spokesman Chris Powell. "It's involved in gold swap agreements with foreign banks. Gold is a major determinant of interest rates."

The bad news for "Goldfinger" buffs, say gold analysts, is that Fort Knox doesn't really matter much anymore...
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Re: GATA Thread

Postby Pixel8r » Mon Jan 25, 2010 10:37 pm

Canada's BNN allows discussion of U.S. stock market rigging

Submitted by cpowell on 07:51PM ET Sunday, January 24, 2010. Section: Daily Dispatches

10:50p ET Sunday, January 24, 2010

Dear Friend of GATA and Gold:

While he'll probably never get on national television in the United States until it's too late, Canada is a free country, so its Business News Network this month gave nine minutes on its "Trading Day" program to Charles Biderman, CEO of Trim Tabs Investment Research in Santa Rosa, California, to discuss the evidence that the U.S. government is surreptitiously goosing the U.S. stock market. With futures and derivatives, Biderman remarked, it would require the government, working through one or two big investment houses (can you think of the prime suspects?), to spend only a few billion dollars a month to leverage the stock market upward -- a tiny fraction of the money the government has been creating to bail out everybody else left and right. Biderman also discussed the flagrant falsification of the U.S. government's employment data. Even if you're a U.S. citizen, you can watch the interview with Biderman at the BNN archive here:

http://watch.bnn.ca/trading-day/january-2010/trading-day-january-8-2010#clip253604
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Re: GATA Thread

Postby Pixel8r » Tue Feb 09, 2010 9:17 am

Dear Friend of GATA and Gold:

While our hopes to have a documentary film made from GATA's conference in Washington on April 18 and 19, 2008, have not been realized, videos of the 17 major presentations there now have been posted at the Vimeo.com Internet site, a site that allows videos to be posted in single segments longer than the 10 minutes allowed at YouTube.

A master listing of the videos of the GATA Washington conference presentations is available on two pages here:

http://vimeo.com/user2565624/videos/sort:alphabetic/format:detail

Below are the links for the individual presentations.

-- GATA Secretary/Treasurer Chris Powell:

http://vimeo.com/8597899

-- GATA Chairman Bill Murphy:

http://vimeo.com/8600178

-- GoldMoney founder and GATA consultant James Turk:

http://vimeo.com/8601724

-- Sprott Asset Management Chief Investment Strategist John Embry:

http://vimeo.com/9144439

-- Former Assistant U.S. Secretary of Housing and Urban Development Catherine Austin Fitts, a member of GATA's Board of Directors:

http://vimeo.com/8654231

-- Hugo Salinas Price, president of the Mexican Civic Association for Silver:

http://vimeo.com/8656214

-- Gold price suppression case litigator Reginald H. Howe:

http://vimeo.com/8603963

-- Former GATA board member Wistar Holt:

http://vimeo.com/8652327

-- GATA consultant Rob Kirby of Kirby Analytics in Toronto:

http://vimeo.com/8605922

-- GATA board member Adrian Douglas of the Market Force Analysis letter:

http://vimeo.com/8653449

-- Bob Bishop, retired editor of the Gold Mining Stock Report letter:

http://vimeo.com/8657487

-- Brian A. Hinchcliffe, president of Kirkland Lake Gold Inc.:

http://vimeo.com/8655207

-- Monetary historian and lawyer Edwin Vieira:

http://vimeo.com/8602534

-- Market analyst James McShirley:

http://vimeo.com/8606103

-- Natural resource conference organizer Joseph Martin:

http://vimeo.com/8604837

-- Toronto natural resources stockbroker Peter Aitken:

http://vimeo.com/8605112

-- Market analyst Richard Guthrie:

http://vimeo.com/8605522

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
"Money is Gold, and nothing else"
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Re: GATA Thread

Postby Pixel8r » Sat Feb 20, 2010 12:20 am

Dear Friend of GATA and Gold:

Video of the proceedings at the roast of GATA Chairman Bill Murphy at the Phoenix Resource Investment Conference and Silver Summit, held at the Renaissance Glendale Hotel and Spa on Thursday, February 4, has been posted in two half-hour segments at the Internet site Vimeo.com. The roast had a lot of good laughs and they're likely to hold up pretty well. You can watch the first half of the roast here:

http://www.vimeo.com/9582472

And the second half here:

http://www.vimeo.com/9582946

CHRIS POWELL, Secretary/Treasurer
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Re: GATA Thread

Postby Pixel8r » Wed Feb 24, 2010 5:17 pm

Our old friend Dominic latest article on moneyweek has been picked up by GATA. Maybe he has been lurking here as I remember mentioning that Soros was being quoted incorrectly by the Telegraph when the article was printed.

viewtopic.php?f=2&t=54&start=40#p2106

Dominic Frisby: Ignore the IMF sales -- Soros is right about gold

Submitted by cpowell on 07:48AM ET Wednesday, February 24, 2010. Section: Daily Dispatches
10:50a ET Wednesday, February 24, 2010

Dear Friend of GATA and Gold:

In his new commentary at MoneyWeek, Dominic Frisby joins those who don't think that more gold sales by the International Monetary Fund will have much impact on the gold price, and he cites GATA in his arguments. Frisby's commentary is headlined "Ignore the IMF Sales -- Soros Is Right about Gold" and you can find it at MoneyWeek here:

http://www.moneyweek.com/investments/precious-metals-and-gems/imf-soros-gold-price-00807.aspx
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Re: GATA Thread

Postby Mr P » Wed Feb 24, 2010 11:37 pm

Pixel8r wrote:Our old friend Dominic latest article on moneyweek has been picked up by GATA.


Linked to by JS too...
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