Few financial newsletter writers work harder than Jay Taylor, editor of J. Taylor's Gold, Energy, and Tech Stocks newsletter (http://www.miningstocks.com/). Taylor not only provides weekly analysis from a hard-money point of view but also produces an Internet radio interview program on which GATA Chairman Bill Murphy and your secretary/treasurer have appeared and speaks on financial television and raido programs and at financial conferences around the world. Last week Taylor was appearing on Business News Network in Canada and his latest letter describes how he was urged not to mention GATA on the air.
This is a change of attitude for BNN, as for years, under the editorship of Jim O'Connell, the network was glad to inquire into gold market manipulation and let GATA be part of the discussion. But O'Connell died five years ago, perhaps taking BNN's courage with him.
Taylor's letter about BNN and GATA is excerpted below.
CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc.
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By Jay Taylor J. Taylor's Gold, Energy, and Tech Stocks Newsletter Friday, August 3, 2012
For some reason -- I'll let you imagine why -- the news media treats the name "GATA" with the same contempt and unfairness with which it treated Ron Paul.
How do I know free speech and fairness are denied GATA, a civil rights organization?
While I have suspected for quite some time that "GATA" was a dirty word in the minds of the establishment, I received first-hand evidence of it last week when I was interviewed by a producer for Business News Network in Canada before appearing on BNN's "Top Picks" show yesterday. (You can watch my comments on Dynacor, Sandstorm, and Timmins Gold here: http://watch.bnn.ca/#clip733129.)
Here is what happened.
The producer wanted to know why I thought the gold price had fallen on Thursday, as he thought it should have risen because of the decline in stock prices and a downturn in confidence in the European Union's resolve to "fix" Europe's economic problems. I suggested to him that I thought the work of GATA helped explain one possible answer to that question. I told him I thought GATA provided some pretty strong evidence that the gold price is from time to time rigged by the same folks responsible for the LIBOR fraud.
The producer responded by asking me to please avoid talking about GATA. It was OK for me to say what I believed, he said, but not to say the name "GATA," because, in his words, "That causes a lot of trouble around here."
I can see this only as a form of media control by the establishment. Just as the media was fearful that Ron Paul would catch on en masse, so all manner of unfairness was used against him so he couldn't get traction among masses of Americans, and so it is that someone high up in the media world does not want the public to get the idea that the gold price is rigged and thus headed to much, much higher levels -- because that concept, if it were to become popular with people other than a few of us "libertarian nut cases," could lead to a panic out of the dollar.
I have believed for some time, based at first on my own intuition and then in recent years increasingly on the work of an army of GATA writers and researchers, that this was the motive for the establishment's "managing" the gold price.
Most of you are no doubt very much aware of GATA, but if you aren't, I urge you to go to www.GATA.organd begin digging into the evidence that gold and silver prices have been at least "played with" and that because the paper markets have been used to suppress metals prices, when and if the masses decide they want to take delivery of the metals, the price of gold could indeed rise to untold thousands of dollars per ounce.
Despite all the anti-gold propaganda, there is no reason to doubt that we are in the bull market of a lifetime for both gold and mining shares. Very soon we are going to see a dramatic increase in both the real and nominal price of gold, and the gold shares are going to break out as well. Hence my unflinching support of the yellow metal and gold mining shares as well as silver and silver mining shares.