"The fact that Gold is manipulated and managed by Banks is a matter (repeatedly) of public record. I am not going into extensive detail here, but suffice to say that on many occasions in Fed testimony the likes of Alan Greenspan admitted that the Fed was ready to lease/sell increasing quantities of Gold (whether it was actually there or not) into the market ‘should the price rise’. For a better understanding of this, the diligent reader will dig out Larry Summers infamous note ‘Gibson’s Paradox and the Gold Standard’, widely available on the internet to read. In the context of the UK, Gordon Brown sold our Gold is a series of pre-announced auctions – thereby guaranteeing the lowest possible price. He was warned against this by many market experts at the time. This shocking fact is the real reason why the Conservatives are insisting on a refreshed appraisal of ‘Brown’s Bottom’ now, just before the election. Realise that Gold ‘sales’ and unbacked leasing to commercials by Central Banks is not something that is driven by the profit motive. The true motive is far grander and more critical than that. Once the genie gets out of the bottle properly and people do the research into the Gold market and come to understand that (as JPMorgan said) "Gold is Money. That’s it." – the inflation- adjusted high from 1980 of $7500/oz will be the next important target. If and when Central Banks also enter the open market (rather than just participating in off-market IMF sales) - to add to their reserve base (China is still lingering around 0.5% of overall F/X reserves) all bets will be off and the EXIT FIAT sign will be flashing. At that point if you still don’t own Gold, you can be the cloakroom attendant handing out the coats, just be sure to turn the lights out afterwards."

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