GATA Warns of Gold Price Suppression and Paper Claims

The Gold Anti-Trust Action Committee (GATA) has been investigating and exposing gold market manipulation for over two decades. Founded in late 1998, GATA's original purpose was to investigate and challenge what its founders believed was manipulation of the gold market.

Chris Powell, secretary and treasurer of GATA, argued that a quarter-point rate hike by the Federal Reserve is insignificant compared to the scale of U.S. deficit financing and government borrowing. He described the present financial system as one of ongoing money and credit creation, with expanding deficits, inflation, government power, and corruption being interconnected.

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.