Gold price suppression: the game goes on

http://www.goldmoney.com/gold-research/alasdair-macleod/gold-price-suppression-the-game-goes-on.html?gmrefcode=gata

Jay Taylor: Canada's BNN doesn't want GATA mentioned on the air

http://www.gata.org/node/11635

Chris Powell: Nine blows against the gold price suppression scheme

http://www.gata.org/node/10613

As gold price suppression grows more brazen, maybe Asia will defeat it

Another long, but must-read opinion by GATA on central bank and bullion bank gold suppression schemes. 

http://www.gata.org/node/10468

LBMA campaigns for gold to be Tier 1 asset for banks under Basel III

It is indeed interesting that the LBMA is advocating gold to be a Tier 1 asset, as the LBMA members are the worst perpetrators of gold price suppression schemes. 

http://www.arabianmoney.net/gold-silver/2011/09/20/lbma-campaigns-for-gold-to-be-tier-1-asset-for-banks-under-basel-iii/

European central banks have become net buyers of gold for the first time in more than two decades, a significant sign that the role of precious metals in currency markets is not only being reassessed but actually changing, reported The Financial Times, while there also is a campaign afoot to include gold as a Tier 1 bank asset with the Basel Committee on Banking Supervision.

However, the Basel III initiative is highly significant too because it would trigger a far wider use of gold within the banking system, not quite a return to the gold standard but the next best thing as far as demand for the yellow metal is concerned.

Presently Tier 1 assets include government bonds such as Greek bonds and a widening of Tier 1 to include precious metals is seen as a way of shoring up confidence in the banking sector with assets that do not require official rating because there is zero counter-party risk.
The Chinese central bank has openly called for gold to be a part of a basket of assets used to support a new super-currency from the IMF, another indication of mounting support at the highest levels for giving a greater role to gold in the global economy,...

There is presently no pressure for silver to return to its old monetary role. Nonetheless if gold becomes more important then it would be logical to include silver, if only because the additional demand for gold would put considerable upward pressure on the gold price and silver is an alternative precious metal.

That is where the interest comes for gold and silver speculators of course. There is not sufficient gold in all of the world, for example, to back the US dollar fully with gold, and to do so estimates of the gold price range from $10-12,000 an ounce.

Silver is even rarer than gold with far smaller physical stocks and very little capacity to expand production that is often a by-product of huge copper mines.

Chinese Wikileak confirms gold price suppression, UAE gold imports up

http://www.arabianmoney.net/gold-silver/2011/09/05/chinese-wikileak-confirms-gold-price-suppression-uae-gold-imports-up/

The Chinese authorities have concluded that the US and Europe have been artificially suppressing the gold price for years, revealed a cable from the US Embassy in Beijing published by Wikileaks.

It reported a recent radio broadcast that said: ‘According to China’s National Foreign Exchanges Administration China’s gold reserves have recently increased. Currently, the majority of its gold reserves have been located in the US and European countries. The US and Europe have always suppressed the rising price of gold. They intend to weaken gold’s function as an international reserve currency. 

Price suppression 

‘They don’t want to see other countries turning to gold reserves instead of the US dollar or euro. Therefore, suppressing the price of gold is very beneficial for the US in maintaining the US dollar’s role as the international reserve currency. China’s increased gold reserves will thus act as a model and lead other countries towards reserving more gold. Large gold reserves are also beneficial in promoting the internationalization of the RMB.’

Fecks, Lies and Video Tape [or the Cabal Channel]

http://www.zerohedge.com/article/guest-post-fecks-lies-and-video-tape-or-cabal-channel

Gold market is not fixed, it's rigged

http://news.goldseek.com/GATA/1281888000.php

The change in price between the AM Fix and the PM Fix are cumulatively making a trend which is increasingly losing money in a very strong bull market! Clearly the fixes are not being set to “clear the market” but are being manipulated to suppress the gold price.

What this shows is that the more gold rises over night in essentially Asian markets the more it is sold down into the PM fix. This was exactly the modus operandum of the London Gold Pool but now it is being done covertly.

Comments on gold suppression

Comments from username "drwells" on zerohedge.com on gold suppression:

1. If your currency is revealed for the green toilet paper it is by the price of gold, then OF COURSE you're going to suppress the price of gold. You'd be a dumba$$ not to. If you shoot someone in the back of the head do you (a) get rid of the gun or (b) drive to the police station and wave it at the cops?

2. They already tried suppressing it in the 1970s. London gold pool much?

3. Here's the BIS admitting it:

http://www.goldensextant.com/commentary30.html#anchor12160

"The intermediate objectives of central bank cooperation are more varied. ... And last, the provision of international credits and joint efforts to influence asset prices (especially gold and foreign exchange) in circumstances where this might be thought useful."

4. Christ, Greenspan himself admitted it 12 years ago.

http://www.federalreserve.gov/boarddocs/testimony/1998/19980724.htm

"...central banks stand ready to lease gold in increasing quantities should the price rise."

Oh well, there were about five billion dumbxxxxx who thought there wasn't a housing bubble either. Just makes it easier for the rest of us, I guess.

Paper gold alchemy

Central bankers, with the help of bullion banks, have been suppressing the prices of gold and silver for years. We independent thinkers are not paranoid lunatics.

http://www.zerohedge.com/article/imf-gold-sales-v-alchemy-gold-futures-%E2%80%93-what%E2%80%99s-impact-future-gold-prices