Gold’s rise is a ‘mystery’ because journalism always fails to pursue it

Gold’s rise is a ‘mystery’ because journalism always fails to pursue it by Chris Powell for GATA

Dear Friend of GATA and Gold:

Thanks to Stephen Gandel at CBS News’ Moneywatch bureau for inadvertently illustrating today the greatest power of governments and central banks in the financial markets.

Gandel’s commentary is headlined: “Gold Prices Hit All-Time High, and It’s a Bit of a Mystery Why.”

Gandel writes: “Gold is usually seen as a safe haven when stocks are falling or when inflation is rising. Neither of those two things are happening right now.”

Apparently Gandel hasn’t done any grocery shopping lately, or paid any taxes or medical insurance bills. Apparently he believes government consumer price data when some ordinary journalist would disprove it.

But more than that, no mainstream news organization will report the longstanding Western government policy of surreptitious intervention in the gold market using the fractional-reserve gold banking system, which is based on derivatives and futures-market manipulation. That system created a vast amount of imaginary gold, delivery demands for which now are causing the system to implode and the metal’s price to rise sharply in what seems like a classic short squeeze.

It has been documented by GATA for many years. It is summarized here —

— and detailed fully here:

The documentation has been provided constantly to major financial news organizations but almost always ignored, being considered a national security issue.

Has CBS News ever put a critical question to a central bank? Has any mainstream financial news organization ever done that?

If mainstream financial news organizations ever attempted journalism in regard to the gold market, central bank policy based on deception would fail instantly.

Thus the greatest power of central banking is not the power of infinite money creation. It is central banking’s exemption from journalism.

The CBS News report proclaiming “mystery” about gold’s rise is posted here:…

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[email protected]

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Chris Powell

The Gold Anti-Trust Action Committee was organized in the fall of 1998 to expose, oppose, and litigate against collusion to control the price and supply of gold and related financial instruments. The committee arose from essays by Bill Murphy, a financial commentator on the Internet (, and by Chris Powell, a newspaper editor in Connecticut. Murphy's essays reported evidence of collusion among financial institutions to suppress the price of gold. Powell, whose newspaper had been involved in antitrust litigation, replied with an essay proposing that gold mining and investor interests should act on Murphy's essays by bringing antitrust lawsuits against financial institutions involved in the collusion against gold. The response to these essays was so favorable that the committee was formed and formally incorporated in Delaware in January 1999. Murphy became chairman and Powell secretary and treasurer.