Eric Hommelberg on Gold

http://www.theaureport.com/pub/na/3183

Of course, it's not in the interest of China or Russia to see the dollar crash because they have so many dollars. On the other hand, they don't want to go forward with a world reserve currency that no longer has any value. Something needs to be adjusted. They demand that the U.S. do something about its ballooning deficit and the U.S. promises to take care of it. The problem, however, is they can't. It's impossible. If you try to run a business with debt growing much faster than income, you know you're heading into bankruptcy. It's no different for a nation.

Regarding the manipulation you referenced, the U.S. has been very much involved in suppressing the gold price for more than 30 years. The reason is quite simple—in order to maintain the illusion of a strong dollar they had to keep a lid on the gold price. A sharp rising gold price would set off all kinds of alarm bells which would undermine the dollar's credibility as a world reserve currency.