Comment by FD: Is he breaking the London metals dealers’ hold to suppress the gold price?
Reply by Martin Armstrong:
I am tired of hearing the same constant nonsense about gold being
intentionally suppressed by dealers, and that’s why it’s not at $10,000.
I have traded against these people for years. Here is a clip from The Forecaster with Barclay [Leib], who used to work for me years ago, talking about
how he checked me out with Goldman Sachs before taking the job.
Every
manipulation these dealers ever pulled off was to the upside – not to
suppress gold. They sell 10x more when people think gold is rising, not
declining. This BS claim that they were suppressing gold to help the
government keep inflation in check is total BS!
[...] Gold
rises NOT with inflation, but with geopolitical issues. Here was the
National Debt Q2 1980 at $877.614bn. As of Q2 2024, it stood at
$36,218bn. The debt has risen 40.29% since 1980. Gold hit $875 on
January 21, 1980, in the cash market. If gold rose because of inflation
or the debt level, then it should be $35,260 per ounce. The gold dealer
could buy all of Wall Street with that price.
Since the start of the never-ending, ever-larger global US War-of-Terror in September 2001, the price of
gold in USD rose from 251 to 3,176 USD/ounce by April 2025 (average annual growth rate: 17.35%).
gold in USD rose from 251 to 3,176 USD/ounce by April 2025 (average annual growth rate: 17.35%).
The average annual inflation rate in the US from 2001 to April 2025 is approximately 2.7%.
The cumulative inflation rate in the US from 2001 to April 2025 is approximately 74.9%.
The cumulative inflation rate in the US from 2001 to April 2025 is approximately 74.9%.
In 2001, the US federal debt was $5.8 trillion and rose to $34.8 trillion by April 2025 (annual growth: 9.86%).
Preliminary results of the global US War-of-Terror in 2023: 4.5 to 4.7 million Muslims killed, with millions more wounded and
maimed. 38 million Muslims displaced, and tens of thousands of settlements, institutions, and infrastructure destroyed. Eco-
nomies collapsed, misery widespread, and famines and mass migrations triggered. US budgetary costs: $8 trillion plus interests.
maimed. 38 million Muslims displaced, and tens of thousands of settlements, institutions, and infrastructure destroyed. Eco-
nomies collapsed, misery widespread, and famines and mass migrations triggered. US budgetary costs: $8 trillion plus interests.
These people who make up these excuses [gold price manipulation] are unbelievable. Gold pays no interest, which is why they lease it out. Otherwise, it is a dead asset that brings in no income. It is a hedge against the government in times of uncertainty—that’s it. It is not a hedge against inflation or the size of the debt. That has been a great sales pitch, but that is it.
See also: