Interview with GATA Chairman re Gold and Silver Manipulation

[GALTGULCH8]

http://youtu.be/t6Yw9B_M_zs

[syrakusos]

The video was disappointing for its shallowness. I expected more facts.

The physical inventories held by governments and central banks is over-reported. When they borrow or lease gold to each other, both sides show the same gold as inventory. Also, since at least 2008, the US Federal Reserve has been issuing press releases ahead of or else behind the daily London fix in order to suppress the price in New York while boosting the NYSE. But everyone knows this (or should). It's like unemployment. Actual numbers are what 20%? 50%? Now, clearly, we are all not so idle. But one consequence of people being "self employed" off the books is that the government misses the tax revenue. Thus, the fiscal cliff and trillon-dollar platinum coin are in the news but in the form of something else, not the the plain truth.

The Chicago Commodities Exchange stopped making physical deliveries of gold several years ago. If you speculate and make a profit, they write you a check, but you cannot get gold the way you can get Pine Lumber or Unleaded Gasoline or Orange Juice.

I often recommend that you find an ANA-member dealer in your area. Watch the spot prices and make your purchases as you can, periodically, consistently. Since 1972, I have been a customer of Liberty Coin Service in Lansing, Michigan. Founded by the late Bill Bradford (of Liberty Magazine), it is owned and operated by Patrick Heller, a highly respected and honored numismatist. Their newsletter always carries their current prices and I look to the percentage mark-ups on sovereigns, kangaroos, etc. With this information, you can make a better bargain across the counter wherever you shop.

Anyone who reads this here and who already does not hold physical gold and/or silver is very far behind the knowledge curve.