Mainstream Financial News Covers Up The Gold Market’s Elephant In The Room Again

What makes it toughest to be bullish on gold are government’s interventions and the… by Chris Powell of the Gold Anti-Trust Action Committee (GATA) Dear Friend of GATA and Gold: Congratulations to Kitco News market analyst Jim Wyckoff for tiptoeing up to the gold market manipulation issue in his commentary this morning: https://www.kitco.com/news/2021-08-09/Gold-bulls-work-to-stabilize-price-after-overnight-flash-crash.html Wyckoff writes: “The overnight flash crash in gold and silver prices may also be due to thin trading conditions overnight amid the summertime doldrums. Many traders are on vacation and much of Europe is on holiday during August. Many times the ‘big boys’ like the investment banks will make very big trades in low-volume futures trading conditions in order to get the maximum bang for their buck, and that may be what happened overnight.” Of course if this kind of thing has happened “many times,” as Wyckoff writes, no one would have known it from reading Kitco’s market analysis, just as no one would know from that analysis if those “big boys” include governments and central banks. But at least Wyckoff’s commentary today implies that it’s getting harder not to acknowledge the elephant in the room. Bloomberg News isn’t yet capable of that, this morning offering only more of last week’s rationalizations for gold’s crash last night and making no attempt to determine who was suddenly selling so much on a not-for-profit basis. Bloomberg again covers up for the market rigging: https://www.bloomberg.com/news/articles/2021-08-09/flash-crash-shows-why-it-s-tough-to-be-bullish-on-gold-right-now Bloomberg’s headline is “Flash Crash Shows Why It’s Tough to Be Bullish on Gold Right Now.” But what makes it toughest to be bullish on gold are government’s interventions and the determination of news organizations like Bloomberg not to report them.  CHRIS POWELL, Secretary/TreasurerGold Anti-Trust Action Committee Inc.[email protected] * * * Join GATA here: New Orleans Investment ConferenceHilton New Orleans Riverside Hotel2 Poydras St., New Orleans, LouisianaTuesday-Friday, October 19-22, 2021 https://neworleansconference.com * * *  Toast to a free gold marketwith great GATA-label wine Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA’s recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express. Here’s what the bottles look like: http://www.gata.org/files/GATA-4-wine-bottles.jpg Buyers can compose their case by choosing as many as four varietals from the list here: http://www.gata.org/files/FayJWineryVarietals.jpg GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals? To order a case of GATA-label wine, please e-mail Fay J Winery at [email protected]. * * * Support GATA by purchasingStuart Englert’s “Rigged” “Rigged” is a concise explanation of government’s currency market rigging policy and extensively credits GATA’s work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon — https://tinyurl.com/3xt6uw66 — or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at [email protected]. * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16

Mainstream Financial News Covers Up The Gold Market’s Elephant In The Room Again

What makes it toughest to be bullish on gold are government’s interventions and the…

Dear Friend of GATA and Gold:

Congratulations to Kitco News market analyst Jim Wyckoff for tiptoeing up to the gold market manipulation issue in his commentary this morning:

https://www.kitco.com/news/2021-08-09/Gold-bulls-work-to-stabilize-price-after-overnight-flash-crash.html

Wyckoff writes: “The overnight flash crash in gold and silver prices may also be due to thin trading conditions overnight amid the summertime doldrums. Many traders are on vacation and much of Europe is on holiday during August. Many times the ‘big boys’ like the investment banks will make very big trades in low-volume futures trading conditions in order to get the maximum bang for their buck, and that may be what happened overnight.”

Of course if this kind of thing has happened “many times,” as Wyckoff writes, no one would have known it from reading Kitco’s market analysis, just as no one would know from that analysis if those “big boys” include governments and central banks.

But at least Wyckoff’s commentary today implies that it’s getting harder not to acknowledge the elephant in the room. Bloomberg News isn’t yet capable of that, this morning offering only more of last week’s rationalizations for gold’s crash last night and making no attempt to determine who was suddenly selling so much on a not-for-profit basis. Bloomberg again covers up for the market rigging:

Bloomberg’s headline is “Flash Crash Shows Why It’s Tough to Be Bullish on Gold Right Now.” But what makes it toughest to be bullish on gold are government’s interventions and the determination of news organizations like Bloomberg not to report them. 

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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