Gold News: Bankers Admit They Manipulate Gold

Here at the Gold Enthusiast, we believe the gold market is manipulated; we’ve discussed it before several times, such as here. Today in gold news, the noted BullionStar-Singapore expert Ronan Manly has now spilled the beans on gold manipulation in the 1970s and 1980s, citing evidence, pointing fingers, and naming names.

Manly goes into the subject in great detail, even going so far as to reveal where you can go and read minutes of meetings where gold manipulation is discussed. Several juicy phrases can be found in his report, such as “there is a need to break the psychology of the market,” and “it would be easy and nice for central banks to force the price down hard and quickly.” It’s not hard to imagine such meetings happening these days. In fact, some analysts think it’s happening fairly often.

Reading about how banks manipulated the market in the 1980’s will help you see how it can be done today, though we’re pretty sure the process is a bit more subtle in the current age of 24-7 media and reporting. Check out today’s featured article, then leave your thoughts in the Comments below.

¬†Related: Here’s Why Turkey is on a Gold Buying Spree.¬†

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated with a business degree, then worked with Macy's. After Macy's he spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined a well-known financial planning firm as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where he worked first for a small manufacturing consulting company, then a major university. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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