There are no free markets anymore, just interventions

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VIDEO INTERVIEW: On behalf of Matterhorn Asset Management, Lars Schall met up with Chris Powell, co-founder of the Gold Anti-Trust Action Committee, GATA. They’ve discussed the motivation behind the systemic suppression of the gold price as well as the related evidence. Moreover, Powell points out who the real victims are and reflects on the state of mainstream financial journalism.

By Lars Schall

The following interview was conducted for and originally published here by Matterhorn Asset MGMT in Zurich, Switzerland.

There are no free markets anymore, there are only interventions

Here is the transcript of the speech that Chris Powell gave in Munich at “Bayerischer Hof” on December 9, the evening before our interview took place: “Gold market manipulation — Why, how, and how long?

Furthermore, here are the documents discussed / shown in the interview:

March 1999 staff report of the International Monetary Fund;

Annual Report BIS 2013;

Article in Harper’s magazine in 1983;

French central banker Gautier at the LBMA;

CME Group filing with the CFTC;

CME Group reports that its customers include „governments and central banks“;

Kevin Warsh on “Financial Repression” in The Wall Street Journal in December 2011.

Chris Powell, secretary/treasurer and director of the Gold Anti-Trust Action Committee (GATA), has been managing editor of the Journal Inquirer, a daily newspaper in Manchester, Connecticut, since 1974. He began working at the paper when he left high school in 1967. He writes a column about Connecticut issues that is published in a dozen other newspapers in the state and Rhode Island and often appears on radio and television public-affairs programs in Connecticut.

From 2004 through 2009 he was legislative chairman of the Connecticut Council on Freedom of Information. In 2006 he was inducted into the Academy of New England Journalists by the New England chapter of the Society of Professional Journalists and the New England Society of Newspaper Editors.

In 1998, Powell founded with Bill Murphy GATA, which is recognized by the U.S. Internal Revenue Service as a tax-exempt educational and civil rights organization under Section 501-c-3 of the U.S. Internal Revenue Code and is grateful for donations to sustain its work. Powell publishes GATA “dispatches” on stories relevant to the precious metals community: click here to access them and the GATA website.

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