So it almost looks like the cops are in the doughnut shop, as far as that’s concerned, and a lot of the manipulation’s actually being done by governments. We know this because they operate through something called the BIS. That’s the Bank for International Settlements, based in Basel, Switzerland.
The BIS is an interesting organization. It was formed in the 1930s, partly to do gold operations for other central banks. It’s sort of the central bankers’ treehouse or clubhouse or whatever you want to call it. But notoriously during World War II, the BIS was run by an American named Thomas McKittrick and they were brokering Nazi gold.
So here you had an American brokering gold for the Nazi’s. So that tells you where the BIS is coming from and they’re still alive and well. And if you read the footnotes to their annual financial statements, they say that they conduct gold sale and leasing transactions on behalf of central banks and commercial banks.
But I disguise the identity of course, and so between the statistical evidence, the disclosures in the BIS, the fact that we know central banks have leased and sold gold from time to time, IMF dumping gold on the market.
In my new book, The Death of Money, I’ve actually uncovered some formerly classified documents which have been declassified from the 1970s. I’ve got some of these from the Gerald Ford Presidential Library that are explicit. Letters from the President of the United States to the Chancellor of Germany saying, “Hey, we want you guys not to buy any gold, because we want to keep the price down.”
So it’s historic. It’s blatant. There’s statistical evidence. It’s very, very clear what’s going on and I’m a gold investor. I manage portfolios by investing in gold. I recommend it to clients, but you do have to understand that if you’re investing in gold you’re fighting every central bank in the world.
- Source, Sprott Money: