The Problem with Gold Futures, ETFs
He is the secretary and treasurer of the Gold Anti-Trust Action Committee (GATA), a nonprofit and civil-rights organization. It monitors the market for manipulation of monetary-metals prices and intervention of central banks to defeat free markets sound-money alternatives.
Powell argues that these instruments are largely “paper gold,” which cannot be redeemed for metal in any practical sense. Further, they give bullion banks a tool to keep prices under control in complicity with central banks.
- Visit the Gold Anti-Trust Action Committee’s website and Facebook page.
- Read “Gold Market Manipulation: Why, How, and How Long?” by Chris Powell.
- Read “3 Reasons Why Investors Should Avoid Gold ETFs” by Olivier Garret on Forbes.
If You Liked This Episode
- “Chris Powell: Paper Gold Is the Elephant in the Room” Gold Newsletter Podcast.
- “Gold Prices: What Does the Data Foretell?” Gold Newsletter Podcast.
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