Anarcho-Capitalist NEWS: Doug Casey says governments don't care about gold and GATA wears tinfoil hats

Dear Friend of GATA and Gold:

Interviewed this week by Craig Hemke of the TF Metals Report for Sprott Money News, financial commentator Doug Casey charges that complaints of gold market manipulation by governments are "ridiculous" and "laughable" because governments "don't care" about gold. Casey adds that while GATA's officers are "nice" and "sincere" people, "they really wear tinfoil hats when they start talking about this stuff."

Yet just a few seconds earlier Casey acknowledges that governments do care about gold.

"Of course governments want a low gold price," Casey says, "because that would indicate that there's no inflation and that there's nothing to worry about economically or financially."

"But," Casey continues, "are they suppressing the price of gold? They want a lower gold price but they're not doing anything about it."
Such a bold assertion implies detailed knowledge of everything governments and central banks do all the time, and while Casey may be a smart guy, is he really omniscient? In his interview he cites no authority for his conclusion.
The gold price, Casey notes, has risen from $35 in 1971 to nearly $1,300 today. He asks: "Is that successful gold price suppression?"

Yet the common disparagement about gold is that its price has not kept up with inflation as other assets have done, nor with the world's monetary base. So yes, even a rise of nearly more than $1,200 in nearly 50 years might be considered successful suppression. If suppression had been any more successful, supply of the metal might have ceased, exposing and exploding the suppression scheme.

Governments "couldn't even suppress the price of gold at $35 per ounce" when that was the official price, Casey says. "How can they do it now? ... It's impossible."

Yet since modern central banking began early in the last century, the United States and its allies have frozen the gold price for long periods at various levels, including $35, and have done so in the open as well as surreptitiously. Omniscient as Casey seems to consider himself, he should have heard of the London Gold Pool, the public mechanism of Western central bank intervention that, with dishoarding of central bank reserves, froze the gold price at $35 during the 1960s before being overwhelmed March 1968. It wasn't "impossible" at all; it worked for eight years:

https://en.wikipedia.org/wiki/London_Gold_Pool

How, Casey asks with incredulity, can governments suppress the gold price now?

More: http://news.goldseek.com/GATA/1529237160.php

Anarcho-Capitalist NEWS: Doug Casey says governments don't care about gold and GATA wears tinfoil hats

Anarcho-Capitalist NEWS: Doug Casey says governments don't care about gold and GATA wears tinfoil hats

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