In a sign that the MSM is finally being forced to acknowledge the gold and silver manipulation story after the CFTC this week announced they are having internal discussions on whether the daily London fix in gold & silver is subject to manipulation, CNBC’s Squawk Box has invited GATA’s Chris Powell on to discuss manipulation of the gold market.
Powell states that the CFTC is under pressure regarding gold and silver and is attempting to pretend they are investigating, but that the AG has stated that the TBTF banks are too big to jail, and that the CFTC has not opened any real investigation.
When asked by the host how Central Banks can be manipulating gold when the Central Banks have been big purchasers of gold over the past few years Powell replied: Because there are 2 categories of Central Banks. For every Central Bank that has been buying gold, there is a Western one that has been leasing, swapping, and dumping gold onto the market. Swaps and leasing are the mechanism of the manipulation. Eastern Central banks are buying, Western Central banks are selling to support their currencies.
In a moment of clarity, the CNBC host responds to Powell: Isn’t it almost too late? Look at the proliferation of gold EFT’s with people getting into paper gold, thinking that they’re actually owning a chunk of metal when they actually don’t own anything! It’s like a synthetic market created on the base of a real market! It’s almost like the matrix!
Powell’s full MUST SEE Squawk Box interview is below: