Bill Murphy: Gold’s Next Move Up Could be Explosive (Video)
Bill Murphy: Gold’s Next Move Up Could be Explosive Video – Investing News
Bill Murphy has spent nearly two decades working to expose gold market manipulation as chairman and director of the Gold Anti-Trust Action Committee (GATA), but he believes there’s still much to be done.
“People continue to … not deal with it because we’re taking on the richest and most powerful people in the world,” he said at the recent New Orleans Investment Conference. “It’s very unfair what’s going on, and eventually it’s going to cause some big problems down the road.”
When asked what the main issue is currently, Murphy explained, “we’ve had all this quantitative easing, low interest rates, deficits — every reason for [the gold price] to go higher. The gold cartel, as I call it, has forced the price down.” He added, “look at gold compared to bitcoin. Earlier this year, they were both the same price at $1,240. Bitcoin isn’t suppressed, manipulated — look what it has done.”
Even so, he thinks it’s worth it for investors to stay in the market. “When people understand [the big picture], it’s a reason to stay in the game because it’s going to be spectacular down the road,” he said.