Interview with GATA Secretary Treasurer on manipulation of Gold

[GALTGULCH8]

http://youtu.be/yt8VJHmsG50

[syrakusos]

US Treasury Physical Gold Report here.

http://www.fms.treas.gov/gold/current.html

I understand and appreciate the work of GATA, but at some level, this becomes just another self-financing crusade. How much proof do you need? What constitutes proof? Any chart of historical gold prices (or just about any historical prices of anything excet perhaps computer memory) tells the story. Twenty years ago, gold was less than one-third of its current price. (National Mining Association here, but of course, also Kitco here.) What do you expect?

That all being true, my problem with GATA is that everyone in every market attempts to manipulate the market. Just your simple buying and selling becomes someone else's supply and demand. Take an option... make a contract for future delivery... You just manipulated the market and speculated. The basic purpose of the futures markets is to let primary producers and primary consumers even out their expectations. Your local grain co-operative takes futures positions opposite to its own inventories. But when GATA says that JP Morgan manipulates the price of silver, everyone is supposed to shudder with horror and disbelief.