News

May 07, 2009

Successful GATA Meeting In London Provides Promotional Boost To Wits Gold

By Charles Wyatt

It was great timing by Adam Fleming, chairman of Fleming Family & Partners, to have the team from GATA in London simultaneously with Marc Watchorn, chief executive of Wits Gold. Bill Murphy and Christopher Powell of GATA - or the Gold Anti Trust Action Committee to give it its full title - were accompanied by John Embry the top gold fund manager at Sprott Asset Management. Everyone with a serious interest in gold in London was there to hear them explain just how governments and banks over a long period have acted in concert to suppress the price of gold. Gold is seen as the ‘canary in the cage’ which warns when inflation or interest rates are getting dangerous. Politicians and bankers prefer to tie up the beak of the canary so that it cannot sing, and this they do by selling gold and hiding the evidence.

No one knows how much gold is currently held by the US Treasury or the IMF. Small wonder then that there was a very muted response from the IMF when Gordon Brown suggested at the G20 fiasco that it should sell gold to raise money for less developed countries hit by the current financial crisis. Bill Murphy told the audience that last month GATA filed a new set of Freedom of Information Act (FOIA) requests with the US Treasury and Federal Reserve to seek information on the US government's gold...