by Chris Powell, GATA:
Dear Friend of GATA and Gold:
Interviewed this week at the Freedom Fest conference in Las Vegas by Daniela Cambone of Kitco News, Casey Research founder Doug Casey called complaints of gold price suppression “ridiculous.”
Governments can’t be suppressing the price of gold, Casey maintained, because gold has done rather well for four decades, because governments own a smaller share of the world’s gold than they used to, and because all governments are bankrupt.
These are hardly persuasive arguments if they are even arguments at all.
As for gold’s having done rather well since it was completely delinked from currencies in 1971, the great disparagement about gold today remains that even with its nominal price increase since then, it has greatly underperformed inflation. Casey has not addressed and explained that.
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