Bill Murphy and Chris Powell from the Gold Anti-Trust Action Committee talk about Gold and Silver Market Manipulation.
They discuss the role of the price mechanism and price discovery, as well as the role central banks, and private banks, play in distorting it. Whether through central bank induced ZIRP or through private banks tinkering with Libor, markets are most certainly manipulated and prices are unquestionably distorted. For years Bill Murphy and Chris Powell have made the case that the precious metal markets are no exception to the manipulation. While we see video of Queen of England touring the vaults of the Bank of England, we don’t ever see transparent disclosure of the gold leasing and transactions of central banks. And as for silver price manipulation, the CFTC’s four year investigation into silver has shed no light.