You are here

GATA

Subscribe to GATA feed
Updated: 1 hour 27 min ago

No one can ask why gold isn't keeping up with central bank balance sheets

2 hours 34 min ago

8:20p ET Tuesday, August 30, 3016

Dear Friend of GATA and Gold:

A market note by two market analysts for Deutsche Bank, publicized Monday by a few news organizations, including Business Insider (see below), observed that gold's price ordinarily correlates with central bank balance sheets but that lately it has not been keeping up with the vast expansion of those balance sheets.

Unfortunately if predictably, the analysts don't inquire into the seeming breakdown of this correlation, perhaps because such inquiry might lead them to the largely surreptitious intervention in the gold market by central banks and particularly their underwriting the huge gold derivatives business, in which paper claims to gold that doesn't exist take the place of ownership of real metal.

That central bank activity remains a highly prohibited subject among mainstream market analysts and mainstream financial news organizations alike.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * *

Gold Is Doing Something It Has Done Only Twice in the Past Decade

By Akin Oyedele
Business Insider, New York
Monday, August 29, 2016

Gold may be worth more than what traders have decided is the spot price.

There's a correlation between gold price changes and the rate at which central banks bought assets to expand their balance sheets, according to Deutsche Bank's Michael Hsueh and Grant Sporre.

And the pace of balance-sheet expansion — by 300% since 2005, according to the analysts — indicates that gold could be worth more.

They wrote in a note on Friday:

"Let us be clear; we are not saying that gold will trade up to $1,700/oz in the near term, but when viewed against the aggregated balance sheet of the 'big four' global central banks (the Fed, European Central Bank, Bank of Japan, and People's Bank of China), the argument can be made if we view gold as a currency, the metal is worth closer to $1,700/oz versus the spot price $1,326/oz." ...

... For the remainder of the report:

http://www.businessinsider.com/gold-and-central-bank-balance-sheets-2016...

ADVERTISEMENT

USAGold: Coins and bullion since 1973

USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

http://www.USAGold.com

USAGold: Great prices, quick delivery -- all the time.

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

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

Resolute Mining to pay dividends in gold bullion

2 hours 58 min ago

By Tess Ingram
Australian Financial Review, Sydney
Tuesday, August 30, 2016

Shareholders in Resolute Mining will have the option of collecting dividend payments in gold bullion, under a new policy believed to be the first of its kind in the world.

The gold miner announced today that it would resume dividend payments, declaring a 1.7-cent per share final dividend for the 2016 financial year under a new gold sales-linked dividend policy.

Resolute, which has not paid consistent dividends since the late 1990s, joined a group of local gold miners reinstating or raising dividends amid the best conditions the sector has enjoyed in recent years.

But with a twist.

Shareholders who hold 5,000 or more shares in the company can elect to receive dividends in gold bullion paid into a personal account held with The Perth Mint.

It is a first for The Perth Mint and Resolute Managing Director John Welborn said he believes it is the first time a gold company has ever offered the option. ...

... For the remainder of the report:

http://www.afr.com/business/mining/gold/resolute-mining-to-pay-dividends...

ADVERTISEMENT

The Gold Mine Barrick Might Regret Having Sold


K92 Mining is poised for production at its Papua New Guinea gold project and has just listed on the Toronto Venture exchange under the symbol KNT.V.

The gold mining startup came together during one of the toughest periods in mining history.

K92's main asset is the Kainantu project, a large high-grade gold resource with extensive infrastructure including underground mine development, a mill processing facility, a fully permitted tailings pond, and paved roads. The infrastructure means K92 can aim to restart mining in the near term with minimal capital costs and seek to grow through cash-flow funded exploration on the roughly 405-square kilometer property, considered prospective for additional discoveries.

For more information, please visit:

https://ceo.ca/@tommy/the-gold-mine-barrick-might-regret-selling

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

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

Central bankers get tired of gold as lower exports cut cash

3 hours 8 min ago

By Camilla Naschert and Eddie Van Der Walt
Bloomberg News
Monday, August 30, 2016

The biggest owners of gold are tiring of the metal.

Central banks -- holders of about 32,900 metric tons of bullion -- cut their purchases by 40 percent during the three months through June, compared with the same period a year earlier, to the lowest since 2011, World Gold Council figures compiled by Bloomberg show. It was the third-straight quarterly drop, the longest such streak in at least five years.

Buying declined in 2016 as prices were rallying for their biggest first-half gain in 40 years. Central banks in emerging-market nations have been adding less gold as the amount of cash they get from exports declined, said John Nugee, a manager of Bank of England reserves in the 1990s.

"The flows have slowed dramatically," said Thorsten Proettel, a commodity analyst at Landesbank Baden-Wuerttemberg in Stuttgart. "This could be a very important factor for the market." ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2016-08-29/central-bankers-get-ti...

ADVERTISEMENT

Silver mining stock report comes with 1-ounce silver round

Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit:

http://fmturl.com/gata/


Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

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

Hugo Salinas Price: The night that is upon us and the dawn of a new era

Mon, 08/29/2016 - 20:00

7p ET Monday, August 29, 2016

Dear Friend of GATA and Gold:

In an address to the Association of Mining Engineers meeting last week in Durango, Mexico, Hugo Salinas Price, president of the Mexican Civic Association for Silver, reflected on the possibility of the return of a gold standard as the mechanism of liberation of the world from U.S. dollar imperialism. Salinas Price's address is titled "The Night That Is upon Us and the Dawn of a New Era" and it's posted at the association's Internet site here:

http://plata.com.mx/Mplata/articulos/articlesFilt.asp?fiidarticulo=293

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

ADVERTISEMENT

Buy precious metals free of value-added tax throughout Europe

Europe Silver Bullion is a fast-growing dealer sourcing its products from renowned mints, refiners, and distributors. Because of a legal loophole that will close soon, you can acquire the world's most popular bullion coins free of value-added tax throughout the European Union. You can collect your order in person at our headquarters in Tallinn, Estonia, or have it delivered in any of the 28 EU countries.

Europe Silver Bullion is owned and operated by North American and European experts in selling, storing, and transporting precious metals. We have an extensive product inventory of silver, gold, platinum, and palladium, and our network spans the world.

Visit us at www.europesilverbullion.com.

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

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

Fed preparing to monetize 'everything,' Turk tells KWN

Mon, 08/29/2016 - 19:28

6:25p ET Monday, August 29, 2016

Dear Friend of GATA and Gold:

GoldMoney founder and GATA consultant James Turk, interviewed by King World News, says the Federal Reserve is preparing to monetize "everything" and he sees signs of hyperinflation in certain divergences in stock market sector prices. An excerpt from the interview is posted at KWN here:

http://kingworldnews.com/alert-james-turk-issues-dire-warning-as-fed-to-...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata


Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

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

T.F. Metals Report: Fed jawboned Friday's markets into submission

Sun, 08/28/2016 - 16:31

1:20p ET Tuesday, August 2, 2016

Dear Friend of GATA and Gold:

The TF Metals Report's Turd Ferguson elaborates on Friday's several attempts by Federal Reserve officials, ultimately successful, to jawbone the markets into doing what the Fed desires. Ferguson's commentary is headlined simply "Ridiculousness" and it's posted here:

http://www.tfmetalsreport.com/blog/7824/ridiculousness

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

ADVERTISEMENT

We Are Amid the Biggest Financial Bubble in History;
When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth

With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.

Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.

Crucial guides to storage in Singapore and Switzerland can be read here:

http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore

http://info.goldcore.com/essential-guide-to-storing-gold-in-switzerland

GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.

Email the GoldCore team at info@goldcore.com or call our trading desk:

UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.

Visit us at: http://www.goldcore.com

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

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

Stock touting may be a lot easier when 'nobody knows anything'

Sun, 08/28/2016 - 12:23

11:27a ET Sunday, August 28, 2016

Dear Friend of GATA and Gold:

Mining stock promoter Bob Moriarty, proprietor of 321Gold.com and author of the new book "Nobody Knows Anything," was at least speaking for himself the other day when he claimed that central banks care a lot about interest rates but not at all about gold.

In commentary headlined "A Zombie Financial System, Black Swans, and a Gold Share Correction" --

http://www.321gold.com/editorials/moriarty/moriarty082416.html

-- Moriarty wrote:

"As a measure of just how important gold is to the world financial system in comparison to interest rates, interest rate derivatives are about 1,300 times greater than gold derivatives. We have a lot of me-too parrot websites talking about manipulation and conspiracies but logic tells us central banks worry about interest rates and couldn't care less about the price of gold."

... Dispatch continues below ...


ADVERTISEMENT

Free Storage with BullionStar in Singapore Until 2016

Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop-shop for precious metals in Singapore.

Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage is FREE until 2016 and will have the most competitive rates in the industry thereafter.

For more information, please visit Bullion Star here:

https://www.bullionstar.com/

But central banks care about gold precisely because its price has a long historical correlation with interest rates and government bond prices, a correlation studied and documented by central bankers and economists alike, including, in their 1988 study, "Gibson's Paradox and the Gold Standard," Harvard economics professor Lawrence Summers, who went on to become U.S. treasury secretary, and University of Michigan economics professor Robert Barsky:

http://www.gata.org/node/1373

A few weeks ago another academic paper, written by a professor of accounting and finance at the University of Western Australia in Perth, Dirk Baur, confirmed that the relationship between interest rates and the gold price gives central banks a powerful incentive to influence interest rates by intervening surreptitiously in the gold market:

http://www.gata.org/node/16611

Baur even quoted from the transcript of the May 1993 meeting of the Federal Reserve's Open Market Committee, which includes an exchange about gold and interest rates between Fed Chairman Alan Greenspan and Fed Board of Governors member Wayne D. Angell, comments that have been cited by GATA many times over the years.

Greenspan: There's an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology. Now we don't have the legal right to sell gold but I'm just frankly curious about what people's views are on situations of this nature because something unusual is involved in policy here."

Angell: We can hold the price of gold very easily. All we have to do is to cause the opportunity cost in terms of interest rates and U.S. Treasury bills to make it unprofitable to own gold. I don't know how much change in the fed funds rate and the Treasury bill rate it takes to do that, but I'd sure like to find out.

And just yesterday GATA consultant Robert Lambourne reported that the Bank for International Settlements, the central bank of the central banks, recently jumped back into the gold swap business, apparently to relieve tight conditions in the gold market:

http://www.gata.org/node/16704

Indeed, three years ago the director of market operations for the Banque de France, Alexander Gautier, told the London Bullion Market Association meeting in Rome that the French central bank trades gold for its own account "nearly on a daily basis" and is "active in the gold market for other central banks and official institutions":

http://www.gata.org/node/13373

If central banks "couldn't care less about the price of gold," why are they trading it "nearly on a daily basis" and why is the BIS arranging gold swaps?

Of course GATA has compiled an enormous amount of official documentation showing that central banks care desperately about the gold price and about concealing their intervention in the gold market, and always will care as long as gold is considered money, a form of money competing with central bank currencies. A summary of that documentation can be found here:

http://www.gata.org/node/14839

Still more of it can be found here:

http://www.gata.org/taxonomy/term/21

So why does Moriarty insist that there is nothing to this even as he fails to address even one document? Why does he constantly misinform his readers?

Is it because the stock-touting business is a lot easier when nobody knows anything?

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * *

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

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

Koos Jansen: Netherlands central bank won't release gold bar list

Sat, 08/27/2016 - 12:34

11:35a ET Saturday, August 27, 2016

Dear Friend of GATA and Gold:

Gold researcher Koos Jansen reports today that the Netherlands central bank, which purports to believe in transparency, says it has a list of the bars in the nation's gold reserves but refuses to release it to him. Jansen's report is headlined "Dutch Central Bank Refuses to Publish Gold Bar List for Dubious Reasons" and it's posted at Bullion Star here:

https://www.bullionstar.com/blogs/koos-jansen/dutch-central-bank-refuses...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

ADVERTISEMENT

Silver Coins and Rounds with Employee Pricing and Free Shipping

Grab your Silver Starter Kit at cost from Money Metals Exchange, the company named "Precious Metals Dealer of the Year" by industry ratings group Bullion Directory.

Simply go to MoneyMetals.com and type "GATA" in the radio box at the top of the page.

This special silver offer contains 4 ounces of silver coins and rounds in the most popular 1-ounce, half-ounce, and 10th-ounce forms. Claim yours now, because GATA readers get employee pricing and free shipping.

So go to --

http://MoneyMetals.com

-- and type "GATA" in the radio box at the top of the page.

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

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

Barrick signs on to Venezuela gold push as oil sinks economy

Sat, 08/27/2016 - 09:56

By Danielle Bochove
Bloomberg News
Friday, August 26, 2016

Barrick Gold Corp. agreed to form a joint venture in Venezuela, according to state television, as President Nicolas Maduro turns to mining as a way to boost one of the fastest-shrinking economies in the world.

The world's biggest producer of the precious metal was among several companies to sign letters of commitment for gold-mining ventures during a ceremony held at the presidential palace in Caracas on Friday. The government would take a 55 percent stake in the proposed Barrick venture, Maduro said.

"At the invitation of the government, we intend to review information pertaining to mining opportunities in the country," Andy Lloyd, a spokesman for Toronto-based Barrick, wrote in an e-mailed response to questions. ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2016-08-26/barrick-signs-on-to-ve...

ADVERTISEMENT

USAGold: Coins and bullion since 1973

USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

http://www.USAGold.com

USAGold: Great prices, quick delivery -- all the time.

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

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

Former Fed Governor Warsh admits that the central bank manipulates markets

Fri, 08/26/2016 - 12:39

Adjudicating GATA's freedom-of-information claim against the Federal Reserve when he was a member of the Fed's Borad of Governors in 2009, the author revealed that the Fed has secret gold swap arrangements with foreign banks --

http://www.gata.org/node/7819

-- a business about which New York Fed President William Dudley refused to answer questions five months ago:

http://www.gata.org/node/16341

* * *

The Federal Reserve Needs New Thinking

By Kevin Warsh
The Wall Street Journal
Thursday, August 24, 2016

http://www.wsj.com/articles/the-federal-reserve-needs-new-thinking-14720...

The conduct of monetary policy in recent years has been deeply flawed. U.S. economic growth lags prior recoveries, falling short of forecasts and deteriorating in the most recent quarters. This week in Jackson Hole, Wyoming, the Federal Reserve Bank of Kansas City hosts the world's leading central bankers and academics to consider monetary reform. The task is timely and consequential, but the Fed needs a broader reform agenda.

Policy makers around the world neither predicted nor can adequately explain the reasons for current inflation readings below their targets. So it is puzzling that so many academics are pushing to raise the current 2% inflation target to a higher target of 3% or 4%. In the telling of the economics guild, the Fed's leaders should descend from the Grand Tetons with supreme assurance that their latest monetary policy invention will remedy the economy's ills.

... Dispatch continues below ...


ADVERTISEMENT

The Gold Mine Barrick Might Regret Having Sold


K92 Mining is poised for production at its Papua New Guinea gold project and has just listed on the Toronto Venture exchange under the symbol KNT.V.

The gold mining startup came together during one of the toughest periods in mining history.

K92's main asset is the Kainantu project, a large high-grade gold resource with extensive infrastructure including underground mine development, a mill processing facility, a fully permitted tailings pond, and paved roads. The infrastructure means K92 can aim to restart mining in the near term with minimal capital costs and seek to grow through cash-flow funded exploration on the roughly 405-square kilometer property, considered prospective for additional discoveries.

For more information, please visit:

https://ceo.ca/@tommy/the-gold-mine-barrick-might-regret-selling

The Fed's leaders should not take the bait. Raising the inflation target is a bad idea being considered at the wrong time for the wrong reasons.

A new inflation target would undermine the Fed's commitment to any policy framework. It would please the denizens of Wall Street who pine for still-looser Fed policy. And households would be understandably miffed to receive a new lecture on unconventional monetary policy -- this one on the benefits of higher prices.

A change in inflation targets would also add to the growing list of excuses that rationalize the economic malaise: the persistent headwinds from the crisis of the prior decade, the high-sounding slogan of "secular stagnation," and the convenient recent alibi of Brexit.

A numeric change in the inflation target isn't real reform. It serves more as subterfuge to distract from monetary, regulatory, and fiscal errors. A robust reform agenda requires more rigorous review of recent policy choices and significant changes in the Fed's tools, strategies, communications, and governance.

Two major obstacles must be overcome: groupthink within the academic economics guild, and the reluctance of central bankers to cede their new power.

First, the economics guild pushed ill-considered new dogmas into the mainstream of monetary policy. The Fed's mantra of data-dependence causes erratic policy lurches in response to noisy data. Its medium-term policy objectives are at odds with its compulsion to keep asset prices elevated. Its inflation objectives are far more precise than the residual measurement error. Its output-gap economic models are troublingly unreliable.

The Fed seeks to fix interest rates and control foreign-exchange rates simultaneously -- an impossible task with the free flow of capital. Its "forward guidance," promising low interest rates well into the future, offers ambiguity in the name of clarity. It licenses a cacophony of communications in the name of transparency. And it expresses grave concern about income inequality while refusing to acknowledge that its policies unfairly increased asset inequality.

The Fed often treats financial markets as a beast to be tamed, a cub to be coddled, or a market to be manipulated. It appears in thrall to financial markets, and financial markets are in thrall to the Fed, but only one will get the last word. A simple, troubling fact: From the beginning of 2008 to the present, more than half of the increase in the value of the S&P 500 occurred on the day of Federal Open Market Committee decisions.

The groupthink gathers adherents even as its successes become harder to find. The guild tightens its grip when it should open its mind to new data sources, new analytics, new economic models, new communication strategies, and a new paradigm for policy.

The second obstacle to real reform is no less challenging. Real reform should reverse the trend that makes the Fed a general purpose agency of government. Many guild members believe that central bankers -- nonpartisan, high-minded experts -- are particularly well-suited to expand their policy remit. They fail to recognize that central bank power is permissible in a democracy only when its scope is limited, its track record strong, and its accountability assured.

The Fed is suffering from a marked downturn in public support. Citizens are rightly concerned about the concentration of economic power at the central bank. Long after the financial crisis, the Fed holds trillions of dollars of assets that would otherwise be in private hands. And it appears to make monetary policy with the purpose of managing financial asset prices, including bolstering the share prices of public companies.

With the enactment of the Dodd-Frank Act, the Fed claims the mantle of reform. It now micromanages big banks and effectively caps their rate of return. The biggest banks' growth in market share corresponds to that of their principal regulator. They are joint-venture partners with the Fed, serving as quasi-public utilities. As the dispenser of fault and favor, the Fed is contributing to the public perception of an unfair, inequitable economic system. Real reform this is not.

Most gathered in Jackson Hole will judge that the Fed's aggressive actions are necessary and wise. Even if that were true, the Fed finds itself in an increasingly untenable position. Congress will tag the Fed for its failures, and the public will assail the Fed for favoritism for its ostensible successes.

In the best of circumstances, the U.S. economy will accelerate to "escape velocity." In that event the Fed might get the benefit of the public doubt.

If, as is more likely, the economy is closer to recession than resurgence, the Fed is poorly positioned to respond with force, efficacy, and credibility. The Fed is vulnerable. Its recent centennial as our nation's central bank should not be confused with its permanent acceptance in the American political system.

-----

Mr. Warsh, a former member of the Federal Reserve board, is a distinguished visiting fellow in economics at Stanford University's Hoover Institution.

* * *

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

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

Ronan Manly: Is any gold still stored at U.S. Mint in Denver?

Fri, 08/26/2016 - 12:17

11:15a ET Friday, August 26, 2016

Dear Friend of GATA and Gold:

Gold researcher Ronan Manly reports today that the U.S. Mint has made a subtle change in its monthly reports, which now indicate that no gold is being stored at the Denver mint. Manly infers from this that all U.S. government gold now is being held at the Army installations at Fort Knox in Kentucky and West Point in New York and that, as fund manager and geopolitical analyst James G. Rickards contends, all the gold is essentially under the Army's control. Manly's report is headlined "Is There Any Gold Bullion Stored at the U.S. Mint in Denver?" and it's posted at Bullion Star here:

https://www.bullionstar.com/blogs/ronan-manly/gold-bullion-stored-us-min...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

ADVERTISEMENT

Silver mining stock report comes with 1-ounce silver round

Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit:

http://fmturl.com/gata/


Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

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

Just wait until it's hypothecated into 145 tonnes

Wed, 08/24/2016 - 22:04

Australian Prospector Unearths 145-Ounce Gold Nugget

By Timna Jacks
The Age, Melbourne, Australia
Thursday, August 25, 2016

At first glance the small lump in the earth looked like worthless scrap.

On closer examination, the prospector guessed it was the tip of an old horseshoe.

He dug deep into the soil -- unearthing 30 centimetres -- before finding the unthinkable: Gold -- 145 ounces of it -- valued at more than A$250,000.

"I really couldn't believe my eyes," said the prospector, who wanted to remain anonymous. "It's like catching a big fish and not knowing what to do with it. Where do we put it? I washed it in water, covered it in aluminum foil, and kept it in my oven on the first night."

The hobbyist found the "colossal" nugget while scouring Victoria's Golden Triangle on Friday. ...

... For the remainder of the report, including a photograph of the "nugget":

http://www.theage.com.au/victoria/i-couldnt-believe-my-eyes-victorian-pr...


ADVERTISEMENT

Buy precious metals free of value-added tax throughout Europe

Europe Silver Bullion is a fast-growing dealer sourcing its products from renowned mints, refiners, and distributors. Because of a legal loophole that will close soon, you can acquire the world's most popular bullion coins free of value-added tax throughout the European Union. You can collect your order in person at our headquarters in Tallinn, Estonia, or have it delivered in any of the 28 EU countries.

Europe Silver Bullion is owned and operated by North American and European experts in selling, storing, and transporting precious metals. We have an extensive product inventory of silver, gold, platinum, and palladium, and our network spans the world.

Visit us at www.europesilverbullion.com.

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

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

Stagnant economy won't support high stock, bond, real estate prices, Embry says

Wed, 08/24/2016 - 13:45

12:45p ET Wednesday, August 24, 2016

Dear Friend of GATA and Gold:

Sprott Asset Management's John Embry tells King World News today that the "deep state" is striving to suppress the price of the monetary metals while supporting stocks, bonds, and real estate. But, Embry adds, a stagnant economy won't support the latter valuations forever. His remarks are excerpted at KWN here:

http://kingworldnews.com/john-embry-warns-the-deep-state-shadow-governme...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata


Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

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

Nobody sells gold like this except to drive the price down in full view

Wed, 08/24/2016 - 11:45

See Zero Hedge's report, headlined "Someone Just Puked $1.5 Billion of Notional Gold," here:

http://www.zerohedge.com/news/2016-08-24/someone-just-puked-15-billion-n...

ADVERTISEMENT

We Are Amid the Biggest Financial Bubble in History;
When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth

With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.

Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.

Crucial guides to storage in Singapore and Switzerland can be read here:

http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore

http://info.goldcore.com/essential-guide-to-storing-gold-in-switzerland

GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.

Email the GoldCore team at info@goldcore.com or call our trading desk:

UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.

Visit us at: http://www.goldcore.com

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

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

Rusoro says it has been awarded $1.2 billion over Venezuelan seizure

Wed, 08/24/2016 - 11:26

By Jim Finkle
Reuters
Tuesday, August 23, 2016

Canada's Rusoro Mining Ltd said Tuesday it has been awarded more than $1.2 billion by a World Bank tribunal that ruled that Venezuela had unlawfully seized the company's gold assets four years ago.

Shares in the Vancouver-based mining firm, which is backed by Russia's Agapov family, more than doubled on Tuesday, trading for as much as 32 cents -- their highest level since Venezuela's asset seizure.

Rusoro, whose shares had a market value of C$83 million (US$64 million) prior to Tuesday's rally, was one of about 20 Canadian miners and other international firms that filed complaints with the World Bank's International Center for Settlement of Investment Disputes over Venezuela's action.

Rusoro, which was the largest gold miner operating in the South American country before the asset seizure, said the World Bank agency determined that Venezuela had unlawfully expropriated the company's investments without paying compensation. ...

... For the remainder of the report:

http://www.reuters.com/article/rusoro-mining-lawsuit-idUSL3N1B43Z6

ADVERTISEMENT

Free Storage with BullionStar in Singapore Until 2016

Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop-shop for precious metals in Singapore.

Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage is FREE until 2016 and will have the most competitive rates in the industry thereafter.

For more information, please visit Bullion Star here:

https://www.bullionstar.com/

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

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

Monetary policy has nationalized Japanese stock market, CLSA analyst says

Tue, 08/23/2016 - 13:57

"There are no markets anymore, just interventions." -- High School Graduate, GATA Washington conference, April 18, 2008.

* * *

By Leslie Shaffer
CNBC, New York
Monday, August 22, 2016

Even a resurgent yen hasn't dampened Japan's stock rally over the past couple months, but that's not necessarily because investors like the market.

The Nikkei 225 index has surged around 10 percent since late June, even as the yen has climbed against the dollar, with the pair testing levels under 100.

Normally this would be bad news for stocks as a stronger yen is a negative for exporters as it reduces their overseas profits when converted to local currency. So what explains the buoyant stock market?

Analysts attributed the gains to the Bank of Japan, not fundamentals.

In a report titled, "BoJ Nationalizing the Stock Market," Nicholas Smith, an analyst at CLSA, said that the central bank's exchange-traded fund buying program was distorting the market.

At its late July meeting, the BoJ said it would increase its ETF purchases so that their amount outstanding will rise at an annual pace of 6 trillion yen ($56.7 billion), from 3.3 trillion yen previously.

Those purchases were particularly distorting to the market because they focused largely on funds tracking the Nikkei 225 index, Smith said in a note dated Sunday, estimating that more than half of the BoJ's ETF buying was likely in Nikkei-tied funds. ...

... For the remainder of the report:

http://www.cnbc.com/2016/08/22/monetary-policy-has-nationalized-the-japa...

ADVERTISEMENT

Silver Coins and Rounds with Employee Pricing and Free Shipping

Grab your Silver Starter Kit at cost from Money Metals Exchange, the company named "Precious Metals Dealer of the Year" by industry ratings group Bullion Directory.

Simply go to MoneyMetals.com and type "GATA" in the radio box at the top of the page.

This special silver offer contains 4 ounces of silver coins and rounds in the most popular 1-ounce, half-ounce, and 10th-ounce forms. Claim yours now, because GATA readers get employee pricing and free shipping.

So go to --

http://MoneyMetals.com

-- and type "GATA" in the radio box at the top of the page.

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

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

Koos Jansen: More indications that China sees gold as key to currency

Tue, 08/23/2016 - 13:34

12:30p ET Tuesday, August 23, 2016

Dear Friend of GATA and Gold:

Gold researcher Koos Jansen today reports more comments by Song Xin, general manager of the Chinese government's National Gold Group Corp., indicating that government policy is the steady acquisition of gold reserves, eventually surpassing United States gold reserves, to facilitate internationalization of the yuan and confidence in the currency. Jansen's report is headlined "Song Xin: Increase Gold Reserves and Join SDR" and it's posted at Bullion Star here:

https://www.bullionstar.com/blogs/koos-jansen/song-xin-increase-gold-res...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

ADVERTISEMENT

Direct Ownership and Storage of Precious Metals
Outside the Banking System in Zurich and Singapore

Goldbroker.com is a precious metals investment company that enables investors to own and store gold directly in their own name (no mutualized ownership) in Zurich and Singapore.

Goldbroker's clients are not exposed to any counterparty risks. They own gold and silver in their own names (the ownership certificate cites the name of the investor and serial number of his bars) and they have storage accounts opened in their own name as well. So Goldbroker.com's storage partner knows the exact identity of each investor. Goldbroker.com doesn't store in the name of its clients; rather, Goldbroker's clients store personally. All investors have direct access to their gold and silver bars.

Goldbroker.com was launched in 2011 so that investors would avoid any counterparty risk when investing in physical gold and silver.

Goldbroker.com is listed among GATA's recommended monetary metals dealers:

http://www.gata.org/node/173

To invest or learn more, please visit:

https://www.goldbroker.com/


Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

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

India's gold smugglers shut out refiners and banks

Tue, 08/23/2016 - 11:00

By Rajendra Jadhav
Reuters
Tuesday, August 23, 2016

MUMBAI, India -- Indian gold refiners just months ago were ramping up capacity and struggling to secure enough ore from miners. Now they are suspending operations as a surge in smuggled bullion wipes out wafer-thin margins.

Gold importing banks and big jewelers have also been hit by the growing entry of illicit gold, which avoids import duties and makes its way on to the so-called "gray market," where it is sold to end-users at a discount.

Smuggled gold could account for more than a third of demand this year in India -- the world's second-biggest buyer of the metal after China -- potentially costing the government over $1 billion in lost revenue.

The upsurge will lead to pressure for a reduction in the 10 percent import duty and a rethink on recently introduced levies on gold jewelry, which critics say are boosting the unofficial trade the government has been trying to curb. ...

... For the remainder of the report:

http://www.reuters.com/article/us-india-gold-discounts-idUSKCN10Y0K5

ADVERTISEMENT

USAGold: Coins and bullion since 1973

USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

http://www.USAGold.com

USAGold: Great prices, quick delivery -- all the time.

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

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

Robert Appel: Technical analysis is of little use in manipulated gold market

Tue, 08/23/2016 - 09:12

8:16a ET Tuesday, August 23, 2016

Dear Friend of GATA and Gold:

Profit Confidential's Robert Appel writes today that the contest in the gold market is not between bulls and bears but between legitimate buyers and, on the sell side, central banks and their bullion bank agents manipulating the market. Appel adds that in such circumstances technical analysis of the market is of little use. His analysis is headlined "Triple-Digit Upside for Direxion Shares Exchange-Traded Fund Trust?" and it's posted at Profit Confidential here:

http://www.profitconfidential.com/stock/triple-digit-upside-for-direxion...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

ADVERTISEMENT

The Gold Mine Barrick Might Regret Having Sold


K92 Mining is poised for production at its Papua New Guinea gold project and has just listed on the Toronto Venture exchange under the symbol KNT.V.

The gold mining startup came together during one of the toughest periods in mining history.

K92's main asset is the Kainantu project, a large high-grade gold resource with extensive infrastructure including underground mine development, a mill processing facility, a fully permitted tailings pond, and paved roads. The infrastructure means K92 can aim to restart mining in the near term with minimal capital costs and seek to grow through cash-flow funded exploration on the roughly 405-square kilometer property, considered prospective for additional discoveries.

For more information, please visit:

https://ceo.ca/@tommy/the-gold-mine-barrick-might-regret-selling

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://tinyurl.com/zr4tjuc

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

Last chance to buy GATA conference DVDs and posters of Wall St. Journal ad

Mon, 08/22/2016 - 14:55

2:10p ET Monday, August 22, 2016

Dear Friend of GATA and Gold:

GATA soon will be closing its merchandise business, so please consider helping us by purchasing a set of DVD recordings of our Gold Rush 2011 conference in London and our 2005 conference in Dawson City, Yukon Territory, Canada.

Or you can purchase a poster of our 2008 full-page color advertisement in The Wall Street Journal warning of the financial disaster impending from the suppression of the gold price by central banks.

DVDs of the proceedings of the two conferences can be purchased here:

http://www.goldrush21.com/order.html

Posters of the Wall Street Journal ad can be purchased here:

http://tinyurl.com/zr4tjuc

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

ADVERTISEMENT

Sandspring Resources Commences 2016 Exploration Campaign

Company Announcement
August 17, 2016

Sandspring Resources Ltd. (TSX VENTURE:SSP, US OTC: SSPXF) is pleased to announce commencement of the 2016 exploration campaign at its Toroparu Gold Project in Guyana, South America.

In 2015 the company completed a 3,700-meter diamond drilling program on the promising Sona Hill Prospect, located 5 kilometers southeast of the main Toroparu deposit. Sona Hill is the easternmost gold anomaly in a cluster of 10 gold features located within a 20-by-7-kilometer hydrothermal alteration halo around Toroparu. Drilling at Sona Hill in 2012 and in 2015 intercepted high-grade mineralization in both saprolite and bedrock, and confirmed the continuity and grade potential of the Sona Hill mineralization.

For the remainder of the announcement and highlights of the 2015 drill program:

https://finance.yahoo.com/news/sandspring-resources-commences-2016-explo...

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/wp-content/uploads/2016/08/2016_Powell.h...

Support GATA by purchasing DVD recordings of the proceedings of our London conference in August 2011 or our Dawson City, Yukon Territory, conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://www.cartserver.com/sc/cart.cgi

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

Pages

Join Forum

To prevent automated spam submissions leave this field empty.

Best of the Web

FOFOA

Price-Pottenger Foundation