Our old friend C.W. took issue yesterday with the dispatch about the GATA-supporting analysis of Matterhorn Asset Managemenet's Matthew Piepenburg, which was posted at King World News and which, your secretary/treasurer wrote, indicated that investors are starting to recognize that market rigging by central banks is especially directed against gold and silver:
C.W. wrote: "But isn’t that the whole point of the rigging? It's so much more effective if investors recognize it is happening and who is doing it, which is why it is done on such a consistent and obvious basis.
"So I don't think that the general recognition of the rigging means we are closer to its end. Rather, it means it will be more effective as investors realize they can't win the battle with gold and silver and so invest elsewhere."
Your secretary/treasurer had to agree with C.W. that central banks, having been forced into more blatant episodes of market rigging, may be glad if people realize, informally, that central banks will do whatever has to be done to defeat alternative currencies.
But, your secretary/treasurer added:
-- The scheme of the central banks doesn't work if people also start to realize that they can achieve and benefit from an alternative currency only if they avoid the futures markets, which central banks easily can control by virtue of their power to create infinite money and trade infinite amounts of things that don't exist.
-- Eventually, if the rigging gets too blatant, even mainstream financial news organizations might feel compelled to report about it and raise questions that central banks can't answer without putting themselves in political jeopardy.
-- Also eventually, if the rigging is generally understood around the world, nations that are not benefiting from it -- like nations where gold is produced -- may protest and even try to pull the plug on the rigging. Many smaller countries could pull the plug on it just by selling U.S. Treasuries and buying relatively small amounts of physical gold, since supply seems so tight.
That's why your secretary/treasurer was delighted to accept an invitation to speak at the Gold Week Africa Conference, originating in Lagos, Nigeria, from Feb. 15-18 and directed at the gold-producing nations of western Africa. Like South Africa, Zimbabwe, and most nations in Central and South America, west Africa is full of rich countries insisting on being poor, since they have allowed the developed countries to demonetize gold and rig the currency markets.
Sixty years ago African patriots arose to liberate their countries from Western imperialism that was easy to see. Today's Western imperialism in the developing world is more camouflaged but just as vicious. Maybe Africa still has patriots and they just need a little help piercing that camouflage.
Participation in the Gold Week Africa Conference is free upon registration. To learn more about it, please visit:
https://www.goldwestafrica.com/gold-week-africa
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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Join GATA here:
Gold Week Africa Conference
via internet from Lagos, Nigeria
Monday-Thursday, February 15-18, 2021
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