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Chris Powell: Covert Yield Curve Control Under Effect

Tom welcomes Chris Powell, Secretary, and Treasurer of GATA, the Gold Anti-Trust Action Committee, to the show.

Chris explains the reasons why gold is manipulated since governments want to control and monopolize currencies. Gold is an independent global reserve system, and it acts as a competitor to government monetary issuance. Central Banks for the past half-century have strived to control the gold price. Control of gold means the power to handle all the values of capital, goods, and services worldwide.

Gold swaps and leasing have enabled central banks to create a vast imaginary supply of gold. Most of the “gold” the investment community owns either doesn’t exist or is oversubscribed. If the market understood central banker actions in the gold market, the valuations would have to change. The question is, who owns the gold and how much do they have?

Chris discusses a commodity hearing with Jeff Christian where he estimated the leverage in the gold market was nearly 100 to 1. India estimated the leverage at 92 to 1. This ratio indicates that there are numerous paper claims to that metal for every ounce in a vault.

He explains the closing of the gold window in 1971 and possible intents for creating gold futures markets. That intention being to scare investors away from gold. Most large countries understand the scheme, but most investors remain unaware.

Much of the world is not thrilled with the US dollar system since it controls most value today and is the primary driver for US imperialism worldwide.

Chris outlines the various uses for silver and why it’s also an industrial metal. Silver could become the kryptonite to central bankers and governments because it’s widely held.

He argues that gold price suppression is used to control interest rates. Ordinarily, there are inverse relationships between rates and gold, and in the past, the gold carry trade acted as just such a mechanism of yield curve control.

Time Stamp References:
0:00 – Intro
0:32 – Gold Manipulation
2:12 – Coming Credit Crisis
6:08 – Leveraged Paper
9:10 – Terms, Fees, & Rules
9:50 – GLD/SLV & Shorts
12:08 – Comex Purpose
14:17 – West To East
22:43 – Gold Reserve Reporting
28:07 – Confiscation Thoughts
31:52 – Silver & Logistics
38:28 – Capital Controls
40:30 – Price Smashing
42:58 – Yield Curve Control
45:52 – Explicit YCC
48:32 – GATA Documentation
53:29 – Wrap Up

Talking Points From This Episode

  • How and why governments and central banks control gold.
  • Gold swaps and leasing – the creation of paper derivatives.
  • China and Russia – why central banks are all involved.
  • Why silver could be banker kryptonite.

Guest Links:

Chris Powell is Secretary/Treasurer and Director of GATA the Gold Anti-Trust Action Committee. GATA was formed in 1998 and it’s purpose is to expose, oppose, and litigate against collusion to control the price and supply of gold and related instruments.

Powell was managing editor of the Journal Inquirer, a daily newspaper in Manchester, Connecticut, from 1974 to 2018, when he retired from his management work while remaining the newspaper’s political columnist. He began working at the paper when he left high school in 1967. His a column is published by many other Connecticut newspapers. He often appears on radio and television public-affairs programs in Connecticut.

From 2004 through 2009 he was legislative chairman of the Connecticut Council on Freedom of Information and remains a member of its Board of Directors. In 2006 he was inducted into the Academy of New England Journalists by the New England chapter of the Society of Professional Journalists and the New England Society of Newspaper Editors.

He is a member of the Connecticut, Manchester, and Vernon historical societies and the International Churchill Society.

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