GATA Unveils 26 Years of Gold Price Suppression Research

Chris Powell, secretary and treasurer of the Gold Anti-Trust Action Committee (GATA), spoke about gold market manipulation and the paper system in a recent Money Metals podcast interview. Powell said GATA was formed in late 1998 to investigate and expose manipulation of the gold market, which also includes silver.

GATA's focus shifted from lawsuits against the U.S. government due to the Gold Reserve Act of 1934 giving the government broad authority to intervene in markets secretly. Instead, they gather documents, publish research, and expose what they consider gold and silver price suppression. Powell said GATA has now pursued this work for 26 years.

Powell argued that a quarter-point rate hike is insignificant compared to U.S. deficit financing and government borrowing. He described the present financial system as one of ongoing money and credit creation, where expanding deficits, inflation, government power, and corruption are interconnected. Powell questioned whether the rate hike could meaningfully affect the underlying fiscal trajectory.

Powell contended that gold price suppression has served to obscure the consequences of government deficits and monetary inflation. He said this system has faced more pressure during the last year and a half as central banks and investors increasingly seek physical gold. Central-bank gold buying has helped drive gold prices higher in recent years, according to Powell.