Chris Powell: Paper Gold Is the Elephant in the Room
Fergus Hodgson, 21 November 2016 
Chris Powell of the Gold Anti-Trust Action Committee says there is a silence in media when it comes to fraudulent sales of gold — certificates that either do not have gold backing or have fractional backing. Less than half backing of gold sold via intermediaries, he believes, is a “very conservative” estimate.
Managing editor of the Journal Inquirer in Connecticut, he adds that accurate reporting of this in major outlets would be a grave danger to the financial system: “The gold-price suppression scheme is part of a broader market-rigging scheme that most of the central banks are cooperating in.”
Who is the dummy in this situation? If you don’t know, it may be you.
Chris Powell (left) is a consistent speaker at the New Orleans Investment Conference, pictured here at the 2016 event.
Recommended Links
- “The Basics,” from the Gold Anti-Trust Action Committee.
- The Gold Cartel by Dimitri Speck (302 pages, Palgrave Macmillan, 2013).
Fergus Hodgson (@FergHodgson) is an economic consultant and Gold Newsletter‘s roving editor.