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Dear Friend of GATA and Gold (and Silver):
While GATA is grateful for fund manager Peter Schiff's interviewing GATA board member Adrian Douglas on his Internet radio program Friday (http://schiffradio.com/pg/jsp/charts/audioMaster.jsp?dispid=301&pid=5116...), it was awfully disappointing to hear Schiff fall into the rationalization for gold and silver price suppression that has been used by newsletter writer Dennis Gartman and so many others over the years.
That is, as Schiff said, gold and silver price suppression is a great gift to gold and silver investors, since it allows them to acquire the metals and related assets at bargain prices.
Price suppression prior to an asset's acquisition may be fine for a buyer, but of course price suppression after acquisition is deadly, and the world now is working on 50 years of gold price suppression by Western governments, and particularly the U.S. government, if the count starts with the establishment of the London Gold Pool in 1961. Vast documentation of gold price suppression instigated by the U.S. government has been compiled by GATA here:
http://www.gata.org/taxonomy/term/21
How many precious metals investors have died in the decades since the gold price suppression scheme began? How many will die before the scheme is busted and ends? Will they go to their graves content in Schiff's assurance that they were able to acquire precious metals at bargain prices if they are not able to realize the rewards of their foresight?
In his interview with Douglas, Schiff did acknowledge that gold price suppression would be bad for its giving false signals to the world financial system about inflationary conduct by central banks, which is indeed a primary purpose of the scheme, another way of deceiving and cheating the markets and investors. Anyone who can see that much of it should be able to see the whole of it eventually, and GATA will keep working to that end.
GATA.org
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