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 continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

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 keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

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