China gold chief confirms gold price suppression by U.S.
10:14a ET Thursday, January 2, 2014
Dear Friend of GATA and Gold:
Gold price suppression is U.S. government policy to maintain the dominance of the U.S. dollar in the ongoing international currency war, the president of China’s gold mining association, Sun Zhaoxue, told a financial conference in Shanghai last June.
Sun’s remarks were disclosed today by gold researcher and GATA consultant Koos Jansen, who obtained them from a rough transcription provided by the SINA Financial news service.
Jansen prefaces Sun’s remarks with some incisive observations of his own about whether there is manipulation of the gold market and, if so, who is responsible for it. Jansen describes himself as a believer in “conspiracy facts,” since, he writes, when money and power are at stake, people conspire.
While gold price suppression can hardly be addressed by mainstream financial news organizations in the West, for years it has been a fairly common topic in the government-controlled news media in China, and Chinese news reports about gold price suppression by the United States have even been cabled back to the U.S. State Department in Washington by the U.S. embassy in Beijing:
http://www.gata.org/node/10380
http://www.gata.org/node/10416
http://www.gata.org/node/12917
That would make the West’s mainstream financial news media seem even more government-controlled than China’s.
Jansen’s commentary and account of Sun’s speech are posted at Jansen’s Internet site, In Gold We Trust, here:
http://www.ingoldwetrust.ch/sun-zhaoxue-us-intends-to-suppress-gold-to-e…
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
The gravity of the situation is not under-appreciated by many on this site Clay, including myself. Chris Powell does some good work at GATA, but unless you can convince me how this “news” (which it is not really new) is a catalyst, or market moving, I might just go back to watching a bowl game….
On second thought… there are a lot of people in China, aren’t there… 2.) they tend to listen to their Gov’t leaders when they get bullish information like this… 3.) the rest of the world also watches and listens carefully to what is said in Beijing. From the perspective of sentiment, the question is whether the majority of large physical buyers will view this news and either wait to buy, or like myself, use the manipulation to accumulate for long term, knowing that it will eventually come to an end.
Clay, your right about comments, I include myself In the uneducated or ignorant group. On the other hand, this particular article (china gold chief….) is days old, and the news of price suppresion or manipulation is years and decades old, even if people are just finaly waking up to the facts and repricutions of it. You believe China just figured it out?
But your right, there are few here to match your knowledge and intilect,( I enjoyed your posts) maybe try a Boston univercity blog, that way you can converse with Kotlikoff, maybe you will even come up with an idea that will actually reverse the fed and their facist government, what you think? I would think at minimum you have signed the petition right? I mean at the very least. I mean, anyone with a brain would have by now.
But you are right, except it doesnt matter where you go, pretty much everyone is stooooopid, if we had any brains the bankers would be hung already and our currenies would be asset backed at minimum. As well as the Fukishima news would be constant as to the updates in dealing with it, and we wouldnt stand for the building of nuclear submarines and drones that kill the inocent. The examples go on forever really. Check the news post in the other thread, whats that tell ya clay?
I actualy think maybe the christians,jews and moslems are right , without a god maybe we would have destroyed this planet long ago.
Why?, because we as a species and most individuals are plain stooopid.
Pointless replying to you, but hey, Im stooopid. lol
(but my roof dont leak and at -30-40 below Im warm and snuggly)
Dont be so serious, you make your own investment decisions, this site and others like it are for ideas, and I bet alot of people find some here.
Try gettin a rise outta Bird or Mathew, either will give you a good run fer yer money, among others.
Another thing Clay, america has been toast in so many ways for a very long time.
Nothing said here is going to change that.
Remember use butter with that toast, it taste better that way. Plus if one does post here there is that attack by the bird or other Fascists/bankster buddy here to welcome you to the underworld. Or just ignore you all together. All this talk about liberty is whose liberty the big corporations? And of course is you talk of “conspiracy“ bird will attack you saying: There is NO conspiracy whatsoever, you are plain nuts. When looking at LIBOR, the Bay of Pigs(Cuba), Watergate, those were conspiracies that were proven to be right. Criminal/Fraud doesn`t seem to register with those above the law, like the too big to jail crowd over at the FED/Banksters of London/NYC. Wall Street big money spenders of taxpayers money. NSA spying looting infomation from Americans, milking them like ants.
Gold and silver suppression by England and then with America is now 150 years old.
The above mentioned article says nothing that has not been known to be reality by those that study for ever and a day.
ditto………..
The Chinese must now have enough gold stored up……..otherwise, they would keep quite ,like they have for the last 7 or 8 years……….I think we have discussed this over and over……..the only ones who are not aware are the sheeple who have been asleep, and will continue to be asleep until the food stamps run out………..
But, Clay thanks for mentioning your concerns………..
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Amen and Amen Matt
This is old “news” – did anyone check the date?
I bet not many knew this:
“Buffet said that he would not buy gold even if its price fell to 800USD. Our research indicates that Buffet made a lot of money from four gold companies. So his statement is inconsistent with his personal action.”
Irwin…………I saw that written somewhere,,,but, Buffet has his own game plan,,,,and that he is a govt. insider and a participant that profits like BERNIE MADEOFF……..
We have mentioned this before,,,,but, Buffet comes from a Congressional family…I think his dad was a Senator………….politically connected………that should tell us something…………..
Buffett remember Gates too, you know `back door` of PC`s windows operating systems. Gates spying on people too, by having his software registered with his company & please tell me about yourself form and what you like/ what company are you with info., how nice gee I wonder how he became sooo rich so fast. ……
Old and ongoing…. They have no shame or honor becuase there really isn’t muvch profit in that. Buffet is the ultimate inside trader; I think he knows what the gov’t will do before the gov’t knows. Some hedge their bets by buying options, others by buying elected officials. ….Thinking the best leverage in the latter.
plus if he bought gold…..he would not be able to attend Uncle BEN’S going away party….
Buffet may very well be telling the truth. There are alot of forms of wealth. Gold is money, yup, it is wealth, but when you own railways and oil wells etc etc, you have your forms of wealth and really dont need every form of wealth.
Me? I would much rather own a fishboat for example or a construction company a few other things. But I dont have those options due to health and age, so, I choose gold as the form of wealth I own.
Eveybodys situation is diferant, Buffet could very well be telling the truth.
Like Rogers, “I own everything,Im a billionare”
Billionares have a differant perspective, nice to could try it. lol
Last line shoulde “nice to try it” but Im stoopid. lol
b……never degrade yourself for technical errors………….remember,,,
“to error is human, to forgive is devine”…………
GREAT INTERVIEW OVER AT WATCHDOG USA……………..
John Williams …..talks about hyperinflation in 2014…and the dollar………and the fan may be entering the outhouse…….
Sharing the sudden success is GreenGro Technologies, a growing equipment dealer, with share prices rising 52.3 percent to 6.7 cents. Medical Marijuana Inc, a California grower of medical marijuana, also saw an increase, up 22 percent to 18.9 cents.
Just an idea for anyone looking to “diversify”. The article was posted on RT today.
AL……..maybe , you could get your next tenant to purchase some shares in the MEDICAL MARIJUANA INC……to off set any unforeseen damages or rent short fall.
Include it in the terms of the lease, a statement like…….. this is to be made a part of,,,Lease entered into…..ect……
under” damages”…….. where by, any and all damages that occur from the excessive odors, that may be omitted during the duration of the lease, that any and all odors shall be cause for such lease to be cancelled in breach of contract… and the transfer of ownership of any and all equity of said stock shares in said Medical Marijuana Inc. shall be the sole ownerhip of said AL K. and etal, AND /OR ………and failure to pay, shall immediately transfer such shares to the benefit of landlord…….and accepted inlieu of rent , as due compensation of said lease.
Here is an idea. Use SH for shorting the S&P market.
Should work nicely.
Monday in HONG KONG(Sunday nite in US)…………GOLD UP 1244……….this is not fund rebalancing……this is gold desire in East………………
West Side story…………gold is being sold again…….or just a little ……….
How much gold is left in the vaults…………I bet not much…it is “floating”
GOVT. NEWS………………
QUESTION……….who is paying for MICHELLE OBAMA TO STAY IN HAWAII as her birthday gift….not barrack I bet……………….
Jerry, we live in a World of entitlements, it starts at the top and goes all the way down. The whole system needs to be rebooted! DT
Remember, I’m not the babby daddy. DT
DT…………..I agree …on the re BOOT……………AND I say we should BOOT THE O…OUT………
With regard to the ‘news’ item out of China… agree with Matt that this has been generally understood by a small cross-section of Americans for some time. After the re-set button is hit, you will see stuff like this referenced in articles in books, indicating that there were early warning signs (if anyone had wanted to pay attention).
With regard to Buffet….
the guy is a major shareholder in one of the key financial service companies (and of course he also engineered the ‘stick save’ on Goldman Sacks — on sweetheart terms for himself). But the point is that he is up to his eyeballs in stocks and, of course, is going to pay lip service to the status quo (even when he knows it is crap)
Franky is right with his concerns.http://www.brotherjohnf.com/archives/256067
They just dropped gold as it was about to breakout over 1250. Went from 1248 to 1212 in seconds.
Gold was halted for 10 seconds because of that hit. Just like what happened last April and countless other times, that was a perfect example of price “management.” The real “tinfoil hat” crowd is the one that claims that there is no manipulation. Funny how the price came right back, isn’t it?
http://www.nanex.net/aqck2/4522.html
Another failed slam… They are losing their grip. They can’t keep it down anymore or create the necessary momentum for an avalanche! They’ve exhausted themselves and everyone else.
They ate up the private investor/trader sell stops last year, thus the rapid rebounds via short covering– realizing they’ve squeezed all they can on the downside. At risk are their massively leveraged shorts (reportedly close to 100::1per oz of bullion) during this basing process in preparation for the next leg up. It will be interesting to see how much longer western bullion banks and their cronies can keep this up.
1240-1260 that big fat red line in the sand……….
I am shocked, shocked to hear that the gold price is being suppressed!
You’re winnings sir…
I never get tired of watching that movie — one of the best!
I am disappointed in the quality of people visiting and commenting on this site, an no I do not mean Al or Cory but more specifically the people posting comments on this site.
The above referenced article is extremely important in so many ways, and the fact that I have to wait hours to see if anyone posts or comments is really sad. Perhaps you viewers are too involved is some stupid Football game or some other self aggrandizement to seek false achievement.
America is toast in so many ways.