Best of the Week
Most Popular
1. Gold vs Cash in a Financial Crisis - Richard_Mills
2.Current Stock Market Rally Similarities To 1999 - Chris_Vermeulen
3.America See You On The Dark Side Of The Moon - Part2 - James_Quinn
4.Stock Market Trend Forecast Outlook for 2020 - Nadeem_Walayat
5.Who Said Stock Market Traders and Investor are Emotional Right Now? - Chris_Vermeulen
6.Gold Upswing and Lessons from Gold Tops - P_Radomski_CFA
7.Economic Tribulation is Coming, and Here is Why - Michael_Pento
8.What to Expect in Our Next Recession/Depression? - Raymond_Matison
9.The Fed Celebrates While Americans Drown in Financial Despair - John_Mauldin
10.Hi-yo Silver Away! - Richard_Mills
Last 7 days
AMAZON (AMZN) - Primary AI Tech Stock Investing 2020 and Beyond - Video - 21st Jan 20
What Do Fresh U.S. Economic Reports Imply for Gold? - 21st Jan 20
Corporate Earnings Setup Rally To Stock Market Peak - 21st Jan 20
Gold Price Trend Forecast 2020 - Part1 - 21st Jan 20
How to Write a Good Finance College Essay  - 21st Jan 20
Risks to Global Economy is Balanced: Stock Market upside limited short term - 20th Jan 20
How Digital Technology is Changing the Sports Betting Industry - 20th Jan 20
Is CEOs Reputation Management Essential? All You Must Know - 20th Jan 20
APPLE (AAPL) AI Tech Stocks Investing 2020 - 20th Jan 20
FOMO or FOPA or Au? - 20th Jan 20
Stock Market SP500 Kitchin Cycle Review - 20th Jan 20
Why Intel i7-4790k Devils Canyon CPU is STILL GOOD in 2020! - 20th Jan 20
Stock Market Final Thrust Review - 19th Jan 20
Gold Trade Usage & Price Effect - 19th Jan 20
Stock Market Trend Forecast 2020 - Trend Analysis - Video - 19th Jan 20
Stock Trade-of-the-Week: Dorchester Minerals (DMLP) - 19th Jan 20
INTEL (INTC) Stock Investing in AI Machine Intelligence Mega-trend 2020 and Beyond - 18th Jan 20
Gold Stocks Wavering - 18th Jan 20
Best Amazon iPhone Case Fits 6s, 7, 8 by Toovren Review - 18th Jan 20
1. GOOGLE (Alphabet) - Primary AI Tech Stock For Investing 2020 - 17th Jan 20
ERY Energy Bear Continues Basing Setup – Breakout Expected Near January 24th - 17th Jan 20
What Expiring Stock and Commodity Market Bubbles Look Like - 17th Jan 20
Platinum Breaks $1000 On Big Rally - What's Next Forecast - 17th Jan 20
Precious Metals Set to Keep Powering Ahead - 17th Jan 20
Stock Market and the US Presidential Election Cycle  - 16th Jan 20
Shifting Undercurrents In The US Stock Market - 16th Jan 20
America 2020 – YEAR OF LIVING DANGEROUSLY (PART TWO) - 16th Jan 20
Yes, China Is a Currency Manipulator – And the U.S. Banking System Is a Metals Manipulator - 16th Jan 20
MICROSOFT Stock Investing in AI Machine Intelligence Mega-trend 2020 and Beyond - 15th Jan 20
Silver Traders Big Trend Analysis – Part II - 15th Jan 20
Silver Short-Term Pullback Before Acceleration Higher - 15th Jan 20
Gold Overall Outlook Is 'Strongly Bullish' - 15th Jan 20
AMD is Killing Intel - Best CPU's For 2020! Ryzen 3900x, 3950x, 3960x Budget, to High End Systems - 15th Jan 20
The Importance Of Keeping Invoices Up To Date - 15th Jan 20
Stock Market Elliott Wave Analysis 2020 - 14th Jan 20
Walmart Has Made a Genius Move to Beat Amazon - 14th Jan 20
Deep State 2020 – A Year Of Living Dangerously! - 14th Jan 20
The End of College Is Near - 14th Jan 20
AI Stocks Investing 2020 to Profit from the Machine Intelligence Mega-trend - Video - 14th Jan 20
Stock Market Final Thrust - 14th Jan 20
British Pound GBP Trend Forecast Review - 13th Jan 20
Trumpism Stock Market and the crisis in American social equality - 13th Jan 20
Silver Investors Big Trend Analysis for – Part I - 13th Jan 20
Craig Hemke Gold & Silver 2020 Prediction, Slams Biased Gold Naysayers - 13th Jan 20

Market Oracle FREE Newsletter

Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

Gold Price Market Manipulation Crime Scene Investigation

Commodities / Gold & Silver 2009 Feb 09, 2009 - 05:57 PM GMT

By: Rob_Kirby


Best Financial Markets Analysis ArticleLast week on Thursday February 5th, 2009, The President's Working Group On Financial Markets held their first official soiree with former New York Federal Reserve Bank President, Timothy Geithner, installed as President Obama's pick as Treasury Secretary.

In the spirit of “Change has come to America” and transparency, cameras were invited in for the ‘proverbial photo-op' in what was no doubt an attempt to demystify this shadowy organization. You can see this press conference for yourself beginning at the 3:20 minute mark of this video excerpt .

Twenty-one years ago, the President's Working Group on Financial Markets [colloquially known as the Plunge Protection Team ] was created by Executive Order 12631, signed on March 18, 1988 by United States President Ronald Reagan.

The Group was created in response to disastrous events in the financial markets surrounding October 19, 1987 (" Black Monday ") to give recommendations and pose solutions to ensure that a repeat does not happen. It was also designed to "enhance the integrity, efficiency, orderliness, and competitiveness of [United States] financial markets and maintain investor confidence."

The Group is constituted of the following:

  • The Treasury Secretary
  • The Chairman of the Federal Reserve
  • The Chairman of the Securities and Exchange Commission [SEC]
  • The Chairman of the Commodity Futures Trading Commission [CFTC]

Over the past decade, much has been written and documented regarding claims about what the Working Group really does. While the mainstream financial press generally dismisses these activities as conspiracy theories, preferring the romantic notion that free markets really exist, the Working Group acts in concert with its agents [J.P. Morgan, Goldman Sachs et al] to:

  • manipulate currencies, including precious metals
  • manipulate stock markets and bond markets using various means like “moral suasion” or falsified / massaged economic data
  • surreptitiously change benchmarks, utilizing data keepers like the BLS
  • purchase and sale of stocks and stock index futures
  • utilize various derivatives including interest rate swaps in close co-ordination with Federal Reserve Open Market Operations.

Taken together, these activities are more akin to Central Planned “economies” than that espoused by free markets and the Constitution for the United States of America.

Policy makers justify these acts of malfeasance in the name of “National Security.” The majority of these nefarious financial perversions promote the false illusion of strength in the almighty U.S. Dollar – an irredeemable fiat currency backed by nothing but a financially bankrupt government, a morally and ethically bankrupt Central Bank and a criminally complicit cadre of Regulators. These same financial perversions are at the root of the current malaise of our financial system. TARPS, money printing and other delusional debt hoaxes do not address our fundamental problem – irredeemable fiat money draws its sustenance from faith – and that faith is now lost.

The reason most often cited by pundits as to why claims of market manipulation[s] cannot be taken seriously, and are therefore not worthy of mainstream news coverage, goes something like this,

“Surely, if markets were being interfered with on a scale such as claimed – it would be obvious to everyone and especially REGULATORS. Therefore, large-scale systemic market malfeasance is virtually impossible.”

Eight years ago, a whistle-blower and Independent Financial Fraud Investigator & Analyst named Harry Markopolos took his concerns and findings regarding fraudulent activities at Madoff Securities to the Securities and Exchange Commission [SEC].

Astonishingly, after repeated claims by Mr. Markopolos, the derelict SEC failed to take action for over eight years.

Last week, Mr. Harry Markopolos gave sworn testimony to Congress regarding his crusade to share his insight and expose to the SEC the scandal that we now know as The Madoff Affair. In sworn testimony Markopolos stated,

"I gift-wrapped and delivered the largest Ponzi (Madoff) to them."

Congress and the whole world listened.

Markopolos testified that he feared for his life because he knew that Madoff Affair had ties to the rich and powerful as well as shadowy organizations and operators. You can watch and listen to his testimony here .

You can watch and listen to Dem. Congressman Rick Ackerman question SEC leadership / legal counsel why the SEC – having been delivered the Madoff fraud on a silver platter - failed to act in the public interest here .

A little more than 10 years ago, a Cornell graduate and commodity trader by the name of Bill Murphy – after conferring with close knit group of knowledgeable associates – realized that something was seriously, systemically amiss in the gold market. Murphy began a crusade of his own, writing essays detailing his concerns and findings and presenting them to law-makers, regulators and the media.

Like Mr. Markopolos, Murphy and his cohorts were and continue to be ignored, too.

To inform the masses of these findings, he started a web based investor community – – and along with a newspaper editor named Chris Powell, they founded GATA – the Gold Anti Trust Action Committee.

On January 31, 2008, at a cost of $264,426.26, this full page advertisement sponsored by GATA was published in The Wall Street Journal. You can read about it here :

Amazingly, for the last eight to ten years, Bill Murphy and the GATA associates have compiled overwhelming evidence that the gold market is surreptitiously manipulated by the U.S. Government, Federal Reserve and their various proxies in furtherance of government economic policy. Central to this policy has been maintenance / dominance / perpetuation the global U.S. Dollar hegemony. The resulting catastrophic systemic problems to the banking and financial system were accurately forecasted by Murphy and GATA years ago and are now manifesting themselves in the current financial turmoil.

The highly documented gold price rigging campaign that Murphy and GATA have brought forward is a key element in a series of systemic financial abuses which has all been foisted upon us in a vain attempt to perpetuate the life of something inherently unstable which is destined to die – our fiat money system.

Everyone deserves to know that irredeemable fiat currency systems possess an impeccably perfect record in that every one that has ever graced this earth [there are over 3,800 past examples of paper currencies that no longer exist] – has failed.

While ALL irredeemable fiat money systems eventually fail – GOLD endures.

Gold bugs who understand this concept often articulate the process by which fiat money fails by saying,

“In the end, all paper burns.”

So, as all of us – the little people – sit and suffer through the last few gruesome, fraudulent scenes being played out on the make-believe silver screen in this financial-house-of-horrors constructed for us by our Friends on Wall Street, we can rest assured that as the movie house continues to fill with toxic smoke, The Plunge Protection Team is hard at work, discrediting the virtues of gold, blocking the exits:

By Rob Kirby

Rob Kirby is the editor of the Kirby Analytics Bi-weekly Online Newsletter, which provides proprietary Macroeconomic Research. Subscribers to are benefiting from paid in-depth research reports, analysis and commentary on rapidly unfolding economic developments as well as recommendations on courses of action to profit from chaos. Subscribe here .

Copyright © 2009 Rob Kirby - All rights reserved.

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Rob Kirby Archive

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


1776 again
10 Feb 09, 00:07
corrupt financial system

Unfortunately, Obama intends to " restructure the financial system", which IS rotten, with a yet more corrupt system, "in cooperatiion with others around the world."

The UN constitution was written by proven communist spy, Ager Hiss, at the direction of Franklin D. Roosevelt, during the time WWII was being fought. We were taken over through the actions of Truman, with a building donated by Rockefeller in 1948. (The UN was the stepchild of the failed League of Nations, which thankfully rejected by the US. )

The general populace has been brain washed that this is in the name of peace, etc., while all the controlling factors were built in for future use, when the time came. Very few understand all the parts and parcels of the UN, because it is deliberately structured so as to be vague, but give the appearance of making this a more peaceful world.

But behind the curtain of the shell game, we have the controllers of their wonderful world government in waiting. Now is their chance is to make the US completely subservient to the World Bank, IMF Bank of International Settlements, etc., and the Establishment has made Obama the man in place to make it possible. Monetary control is the key to complete control, and Obama is the chosen one to install it.

His Marxist principles are in keeping with the UN collectivist/socialist/communist agenda for complete loss of our sovereignty, subservient to world government eventually. This man is the control freak of the century , and only too happy to have the ability to control the monetary system through the corrupt central bankers who have been at the heart of control of the country through monetary means. Gold has always been a huge threat to their "funny money" fiat currency system, since they have infected the whole world with their system which is in its dying throes, but they want to save their system by any means.

Manipulation of the news, "money", gold, silver and even agriculture, and other commodities has been a big part of the system for a long time. It is apparent to anyone with eyes to see and ears to hear. NOW we have a manufactured "crisis", so that they think they will institute their "solutions" to the problem THEY created. We are to be so desperate that we will beg them to "save us"!

Gold is the only real money, as it has been through history, and is a threat to the " confidence " in our fake economy system, so its value must be controlled .
29 Dec 09, 02:52

Well large portions of the world population know that the financial system is off the rails and run by rich crooks .

The World Bank,and the IMF Bank are outdated institutions , and are not seperate enough from politics , and a far from showing any social responsibility . It seems that a lot of todays politicians have no ideas or willingness to fundamentally change things , what will it take to restore things and rid politics , industrial groups and the finance sector of incompetent and corrupt people .

Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules