Murphy and the GATA has been attempting to expose the blatant manipulation for a number of years now. "The gold market is managed by certain central banks and their agents, the bullion banks" he wrote in 2005. "It is a price-fixing case involving some very powerful people and institutions … in fact it is a Gold Cartel."
Murphy and others have revealed how the IMF and the central banks have sought to suppress the gold price over the last 10 years in order to maintain their monopoly over an economy based on debt and fiat paper currencies.
We have previously reported on how the official COMEX gold future numbers are completely divorced from reality and banker manipulation is rife.
Recently, influential private investment advisor Martin Hennecke echoed these sentiments declaring that the anomalous price trends were partly a result of temporary deleveraging as well as, “manipulation as the central bankers and the politicians don’t want you to panic out of their debt and go into gold.”
Hennecke and other investors such as Jim Rogers have predicted that gold prices will explode towards $2,000 an ounce with future hyperinflation resulting from the global central banks’ insistence on printing their way out of economic turmoil.
Last week more evidence of the manipulation of precious metals emerged with Silver market analyst Ted Butler obtaining a letter from the U.S. Commodity Futures Trading Commission to U.S. Rep. Gary G. Miller, Republican of California. The letter virtually confirmed Butler's speculation in September that the smashing of the silver price this year involved JPMorganChase's takeover of Bear Stearns in March.
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