Here is a snippet from Bill Murphy's Cafe today in response to North and a couple of others:

Gerbino touches on a number of interesting points, some valid, some not (in my book). But he, like North, is not making a case for gold today, or for some time to come.

Why bring both up? Because neither touches on the most important aspect of the gold price (like most everyone else) which is the manipulation issue. It has been my contention for years that if you don’t go there first, you have no idea of what the gold market is really all about. Thus, most investors won’t understand how to deal with last week’s debacle and what it meant.

The bottom line is the swift price swoons in gold and silver were US government ordered. Ironically, the reasons given for the price falls by many pundits were actually reasons for the prices to go MUCH higher, which will soon surface. What we are going through now is a squall before the coming typhoon hits.

What the GATA camp has learned in 9 fascinating years has stood us well. So many other analyses come and go, then disappear from the scene, or change their chance their analysis. We know what is coming in the years ahead and why. Last week was exasperating, but that is all. The prices of gold and silver ought to make new highs in the months to come, once they stabilize somewhere around these levels.