It’s always been my personal feeling that in time what we will see is a re-valuation of gold. Hopefully soon see the re-valuation of gold and silver based on the true market price of supply and demand. The vision that I and others have is that we will wake up one morning and the price of gold and silver will be revalued. This is because there is no true and honest price discovery mechanism in place… only false paper promises. Therefore with that in mind, perhaps this is what the “secret meeting” is about this Friday.
By: Chris Powell, Secretary/Treasurer, GATA
Dear Friend of GATA and Gold:
Attention, mainstream financial journalists! Here’s something else important for you to ignore this week, thanks to the diligent eye of gold researcher and GATA consultant Ronan Manly.
It’s a breakfast meeting to be held Friday in Washington for “a select group of central banks and other official-sector institutions,” sponsored by the Official Monetary and Financial Institutions Forum and the World Gold Council, to discuss “gold, the renminbi, and the multicurrency system,” convened in conjunction with the spring meeting of the International Monetary Fund and World Bank Group, a United Nations agency:
“Discussions,” the discreet announcement from OMFIF says, “are under Chatham House Rules,” whereby information may be used but never attributed:
While many nations with central banks purport to be representative democracies and while the World Gold Council purports to be the representative of the gold industry, some of whose participants actually have to get their hands dirty every day —
— attendance at Friday’s meeting will be by invitation only. So for the record GATA has requested one.
But if you don’t get an invitation, you can fairly assume that the valuation of all capital, labor, goods, and services in the world is none of your business. This is after all the central bankers’ world. The rest of us are lucky that they let us even pass through it from time to time, though the impertinent among us might wonder why central bankers should need to talk in secret about something supposedly as irrelevant and retrograde as gold.
Good thing for them that mainstream financial journalists have neither curiosity nor backbone.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.