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Your Gold - The Whole Truth

October 24, 2013


When the government shutdown and the split in the Congress threatened a US government debt default, the price of gold should have jumped through the roof, right?

Nope. The opposite happened. Want to know why? Keep reading. It's important.

Since August 1971, when US President Richard Nixon tore up the Bretton Woods Treaty of 1944 and told the world that the Federal Reserve ‘gold window’ was permanently closed, Wall Street banks and the US and City of London financial powers have done everything imaginable to STOP gold from becoming the currency standard of trust. 

With no sign of a deal between Congress and the Obama White House, the Chicago CME Group announced that trading was halted for 10 seconds on October 11, after a safety mechanism was triggered. Why the halt? Because a 2-million-ounce (56.7 million grams) gold futures sell order was executed. Two million ounces??? Any idea what two million ounces of gold is worth? It's worth 2,000,000 x $1,300! Why would someone make a sell order when things looked bleak?


The huge "paper" gold sale happened right when panicked investors were rushing to buy gold as a safe haven. The result? Instead of investors driving the price of gold skyward, the price plunged $30 an ounce to a three-month low of $1,259.60 an ounce. This gold sales order was a direct market manipulation designed to screw gold investors.

"These moves are becoming more and more prevalent", says David Govett, head of precious metals at bullion broker Marex Spectron. There are ways of entering and exiting a market so that minimum damage is caused and whoever is entering these orders has no intention of doing that."


The ‘someone’ that market sources believe is responsible for screwing investors is the Obama White House, in league with the Federal Reserve and with key Wall Street banks that would be ruined if gold were to rise dramatically.

In March 1988, President Ronald Reagan signed Executive Order 12631 known on Wall Street as the ‘Plunge Protection Team’. Their job is to prevent any unexpected financial market panic selloff or ‘plunge’.

The Plunge Team is headed by the US Treasury Secretary and includes the chairman of the Federal Reserve, the head of the SEC, and the head of the CFTC. Since 1988, reports of secret interventions by the Plunge Protection Team have been made to prevent a market panic selloff that could threaten the role of the US dollar. There was an intervention after the 9/11 terrorist attacks in 2001. 

"There is an informal agreement among major banks to come in and start to buy stock if there appears to be a problem." 

Stocks aren't the only thing the government manipulates. Since the dot.com bubble in 2000—gold exploded from $300 an ounce to a record high above $1,900 in August, 2011. Since then, gold has reversed and lost more than 31 percent, despite talk of a unilateral Israeli military strike on Iran, the US financial debacle, a euro crisis, and now, the threat of US government default. All of these events have created a stellar demand for gold investment, yet the price has been stymied. 


Did you know that on April 10, the heads of the five largest US banks, the Wall Street ‘Gods of Money’ — JPMorgan Chase, Goldman Sachs, Bank of America and Citigroup — requested a closed door meeting with Obama at the White House?

Fifteen days later, on April 25, the largest one-day fall in history in gold took place. Later investigation of trading records at Comex revealed that one bank, JP Morgan Securities, was behind the huge selloff of gold derivatives. Derivatives are pieces of paper or bets on future gold or other commodity prices. The corrupt US Congress, under lobby influence from Wall Street, has left gold derivatives unregulated. The President’s Plunge Protection Team has been very busy regulating the price of gold to the advantage of the money gods and to the chagrin of gold investors.


A financial war is underway. On one side are the Wall Street giant banks and their close allies, including the major City of London banks and banks like Deutsche Bank, using paper gold derivatives trading in the unregulated COMEX, with the covert support of the US Treasury and the Fed.

On the other side are real investors and Central Banks who believe that the world financial system, especially the dollar system, is teetering on the brink of disaster and that physical gold is the historical best safe haven in such a crisis. 

Here, the recent buying of gold reserves by several central banks including Russia, Turkey and especially China, are notable. The short-term derivative gold price manipulations by JP Morgan and Goldman Sachs are creating smiles at the Peoples’ Bank of China and the Russian Central Bank among other buyers of physical gold. Since 2006 Russia’s central bank has increased its gold reserves by 300 percent. 

Now, the Chinese central bank has just revealed data showing that China imported 131 gross tons of gold in the month of August, a 146 percent increase compared to a year prior. August was the second highest gold importing month in its history. More impressively, China has imported more than 2,000 tons of gold in the past two years. According to a 2011 cable made public by WikiLeaks, the Peoples’ Bank of China is quietly seeking to make the renminbi (the yuan) the new gold-backed reserve currency. 



The Peoples’ Bank of China holds about 3,500 tons of monetary gold, surpassing Germany, to make it number two in the world after the Federal Reserve.

The Federal Reserve claims to hold the 8,044 tons of gold...but that's very doubtful. The former International Monetary Fund director, France’s Dominique Straus-Kahn, demanded an independent audit of the Federal Reserve gold after the US refused to deliver to the IMF 191 tons of gold in April 1978. Before Straus-Kahn could rush back to Paris, he was hit by a bizarre hotel sex scandal and abruptly forced to resign. Straus-Kahn had been shown a secret Russian intelligence report prepared for President Vladimir Putin in which ‘rogue’ CIA agents revealed that the US Federal Reserve had no gold reserves and only lied that it did. 

The stakes for Washington and Wall Street in depressing the gold price are staggering. Were gold to soar to $10,000 or more an ounce, where many believe current demand-supply pressures would find it, there would be a panic selloff of the dollar and of US Treasury bonds. China now holds a record $3.7 trillion of foreign currency reserves and the US Treasury bonds and bills are about half that. 

That selloff would send US interest rates sky-high, forcing a chain-reaction of corporate and personal bankruptcies that have been avoided since the financial crisis broke in 2007 only owing to record near-zero Federal Reserve interest rates. That selloff, in turn, would be the end of the US as the world’s sole superpower. Little wonder the Obama Administration is manipulating gold...but it won't last long at this pace.

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