These governments weren’t selling their gold to cash in on the profit. They were orchestrating a coordinated attack to prevent gold prices from rising too high.
Baltimore, MD (PRWEB) October 06, 2011
A gold price conspiracy among some of the world’s most powerful governments may be controlling the gold market, according to Resources Specialist Peter Krauth.
“In the decade between 1999 and 2009, central banks - dominated by the West - were net sellers of gold in every single year. And that's despite the fact that gold in that time soared from $250 an ounce to $1,200 per ounce - a nearly 400% gain,” says Krauth in a new report for Money Morning.
He goes on to explain that, while prices for gold were rising astronomically - making gold investors incredible profits, the U.S. Federal Reserve, Bank of England and several other government banks in the West were selling their gold reserves in what could have been an attempt to flood the gold market.
According to the report, Krauth shows that these governments weren’t selling their gold to cash in on the profit. They were orchestrating a coordinated attack to prevent gold prices from rising too high.
In three years, the Bank of England sold nearly half its gold reserves, while gold prices were in a protracted bull market. That’s not a move a government makes unless it’s trying to fight the markets head-on, says Krauth.
And it succeeded. The announcement that the Bank of England would be dumping 395 tons of gold into the market was enough to drive gold prices down more than 10%.
What’s worse, according to recent documents released by the Gold Anti-Trust Action Committee, this sort of gold price manipulation may still be part of the Federal Reserves plans to artificially support the U.S. dollar and U.S. debt against foreign currencies.
What does this mean for those who invest in gold?
Find out in Peter Krauth’s new Money Morning report “The Gold Price Conspiracy Uncle Sam Doesn’t Want You To Know About”.
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