Mike Gleason, of Money Metals Exchange, and Chris Powell of the Gold Anti-Trust Action Committee had a very interesting discussion on the overt manipulation of the gold and silver markets. The following is my contribution to the discussion:
This discussion--a great one, by the way--opens up a much larger question than simply whether or not gold investors can make a profit, or even whether or not the markets can be controlled surreptitiously to the benefit of governments. It is actually the question of, "What are the limits to governmental power? Are there any limits? Do the people really have any rights? Will the people ever force governments to back down from their power grabs, as long as they're reasonably satisfied? Will the people ever even care?"
I know that is several questions, not one. I have a hard time encapsulating it in one question. Perhaps another reader, or the staff at MME can come up with one!
What's really scary, Mike and Chris, is that our current leadership was elected. They were elected by people with absolutely no interest in whether the markets, let alone metals markets, are manipulated by government. And if they were told this in a way they could understand, they would probably agree that this is a proper function of government!
The United States, more than any other nation on earth, is really just a concept. It is a concept that exists in the hearts and minds of its people. And if that concept is lost, the nation no longer has any real existence. I think we've reached that point.