As a long time follower of Gold I have always been puzzled as to why gold prices have lingered around at very low levels over the last twenty years. Until recently I could only speculate that just maybe it wasn’t in someone’s best interest. But who’s?

A gentleman by the name of Bill Murphy would appear to be making great head way in this area. Mr Murphy is the Chairman of the Gold Anti-Trust Action Committee, often referred to as GATA. He is also Le Patron of a website called the LeMetropoleCafe, which is well worth a visit.

On Wednesday 28 June 2006 he appeared on ROBtv at 11.40 in a short piece entitled: Gold Cartel tampering with Bullion. In summary Bill Murphy more or less stated that the United States Government, and banks like Goldman Sachs and JPMorgan Chase were involved in manipulation along with the BIS, IMF, the Bank of England, The Treasury and the Fed. Strangely though, the IMF has produced a paper, just recently, in which they say the central banks have double-counted their reserves. In a way this supports Bill’s claim that they only have half of the reserves that we think they have. Odder still is that they have not carried out an independent audit since 1955, so really who knows the current state of these gold reserves?

Where are the top-flight investigative journalists these days? I’m old enough to remember Watergate and the incredible work carried out by Bob Woodward and Carl Bernstein of the Washington Post, which led to the downfall of President Nixon. Why is there not a huge demand from the media to insist that the government settle this matter once and for all by allowing an independent audit involving respected companies and a number of sceptics just for good measure?

Then and only then will this matter go away
30 June 2006