Chris Powell: Paper Gold Is the Elephant in the Room

Chris Powell: Paper Gold Is the Elephant in the Room

Fergus Hodgson, 21 November 2016

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Chris Powell of the Gold Anti-Trust Action Committee says there is a silence in media when it comes to fraudulent sales of gold — certificates that either do not have gold backing or have fractional backing. Less than half backing of gold sold via intermediaries, he believes, is a “very conservative” estimate.

Managing editor of the Journal Inquirer in Connecticut, he adds that accurate reporting of this in major outlets would be a grave danger to the financial system: “The gold-price suppression scheme is part of a broader market-rigging scheme that most of the central banks are cooperating in.”

Who is the dummy in this situation? If you don’t know, it may be you.