by Andrew Hoffman, Miles Franklin:
Lately it feels like “goldbugs” have been forced to endure the trials of a job. Trust me, no one understands this better than myself, having taken my first job in the mining industry in April 2007, the exact month the TSX-Venture index peaked; and joining Miles Franklin in October 2011, one month after “dollar-priced gold” peaked. I can go on and on about TPTB’s “point of no return” decision in September 2011, when they realized the only way to avoid instantaneous, systemic implosion was unprecedented exponentially increasing market manipulation. Or April 2013, when despite TPTB’s best efforts in the prior two years, gold and silver were on the verge of breaking out anew – prompting the “closed door” meeting between Obama and the top TBTF bank CEO’s preceding the following day’s historic PM raids. Irrespective of your chosen “starting point,” the fact remains that the suppression of gold and silver prices commenced in the late 1990s, when the Robert Rubin-led Treasury embraced then Deputy Treasury Secretary Larry Summers’ “Gibson’s Paradox and the Gold Standard” article of 1988, suggesting that if gold prices were kept low, interest rates could be too. And this, just three decades following the collapse of the most infamous overt gold suppression scheme ever – the U.S.-led “London Gold Pool.”
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