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GATA Interview

Interview with Chris Powell from GATA (Gold Anti-Trust Action Committee)

Published: 30-06-2014 00:00

GATA Interview

GATA has been fighting the market and price manipulation in the precious metals markets since before the turn of the millennia. 

GATA has gained worldwide recognition for its efforts relentlessly exposing the shenanigans of the paper metal markets.  

BullionStar is proud to present an exclusive interview with GATA's chairman Chris Powell.

BullionStar: How do you view the strong trend on the physical gold market from West to East with the Chinese gold consumption reaching 2000 tons last year? Will the trend continue? Moreover, how much longer can the market cater to the Chinese demand on these levels?

Chris: The flow suggests that the East knows something the West doesn't or at least disagrees with the West about the value of gold. I don't know if this will continue but if GATA's view is correct, the East is right about the value of gold and continuation of the trend will exhaust Western reserves and drive the price up.

BullionStar: It seems that the price manipulation of precious metals is starting to reach mainstream media. What's your view on the manipulation today and how has it changed over the last decade?

Chris: Manipulation of markets GENERALLY is getting mentioned by mainstream news organizations but the involvement of Western central banks in gold price suppression is, I think, being even more suppressed by those news organizations. My view of the manipulation issue over the years is that while years ago a few members of the bullion market establishment were willing to disparage or even argue with GATA, none of them are willing to do so any longer on account of the exhaustive documentation GATA has compiled about surreptitious Western central bank intervention against a rising gold price. The documentation simply can't be argued with, because arguing with it would just publicize it more.

BullionStar: The Southeast Asians and Chinese are taking physical delivery of their precious metals, as opposed to Westerners, and there's several initiatives setting up proper physical markets in the region. Singapore is the leader in this development with the Singaporean Exchange launching a physical gold spot contract and bullion dealers like BullionStar.com launching a one-stop bullion shop, showroom and vault for savers and investors to view, buy, deposit, store, audit and physically withdraw bullion. Will these initiatives change the precious metals market for the better creating a sound market with sound price mechanisms?

Chris: We can only hope so and wish these undertakings the best as they hasten the shift from "paper gold" to real metal. Gold's value is entirely a matter of its finite supply. "Paper gold" is infinite and its only purpose is to defeat any reliable monetary measure in the world.

BullionStar: Thank you for the interview Chris!