Sunday, August 30, 2009

Does the Plunge Protection Team Manipulate the Gold Price?

Ron Paul thinks so. Here's more from Chapter 3 of Ron Paul's soon to be published (Spt. 16) book, End the Fed:

Central banks in recent years have been selling constantly, and I’m strongly suspicious that the President’s Working Group on Financial Markets—the “Plunge Protection Team”—participates in the gold market as well to keep the price suppressed.

As recently as November 2008, Bernanke admitted to me in a Financial Services Committee hearing that the only time gold is discussed with other central bankers is for the purpose of selling—never to consider its merit in serving as a reserve for a
new currency agreement


  1. Wenzel,

    Oh boy, critics are going to latch onto this one!

    This is good enough by itself for a little sound-bite on MSNBC/CBS/ABC political talk shows where a shit-eatting-grinning Chris Matthews or Keith Olbermann can put up quote fingers and take on a deep voice as they scare viewers with this horrifying, ignorant conspiracy-theory fear-mongering about gold price suppression and then smirk with some witty little comeback and toss the book aside, having read approx. zero of it. All they needed to know about the book is contained in that one soundbite.

    Meanwhile, in reality, it's not all that nefarious to suggest the government manipulates the gold price. After all, the govt manipulates all kinds of prices all day long-- boosting housing prices with $8,000 tax credits, boosting financial stock prices with bailouts, boosting worker pay with minimum wage laws; and they TRY to suppress prices, too, ie, "affordable" housing and rent control laws, 'windfall profits' laws.

  2. In 1971 in South Afrika I bought South African Gold Coin for approx. $26 US, which proves who control and manipulates Financial Markets for benefits of only one group as they needed.That group was boosting Housing prices, financial stock prices, boosting or lovering worker pay, hire and fire and making laws for as slaves. In 2009 with Gold prices around 1200 for the same Gold Coin I bought in 1971 is the same group. Who is that Group ? Whot they Want ? Wy they slaving as and when this going to stop ? This crucked group of peaple
    ignoring as, as humans, lacking humanity for onli they own gain iven throu ded bodies.Yeas, they with deep voice scare the all world with this horryfying, ignorant conspiraci-theory fear -mongering about gold prices in future - $5,000 in 2 to 5 years.

    In reality this inflation can go only down and the Gold prices will be around $100 US, without above mentioned group,they ignoranc for better life for all of as. From 1945 was only continued Inflation and prove is the price of Gold, or Gold is only a peace of metal for Governments to manipulate with as slaves - general public ???