GATA vs The Evil Empire

Mon, Oct 24, 2011 - 10:09am

So there was this "debate" back on Friday...

First of all, I despise staged-for-public-consumption "debates". The format allows for nothing but simple, talking point regurgitation and rarely are the presenters allowed to confront/refute the contentions of their opponent. One guy can say something outrageous like "and unlike my bed-wetting opponent, I don't endorse legalized heroin distribution and beastiality". The "opponent" is likely so focused on what talking point he's going to spew next that he didn't even hear the charges made against him and the "moderator" simply wants to move onto the next question anyway. Thereby, the charges are left hanging in the air and the viewer is left with the impression that "maybe that one guy really is a nervous, dog-humping junkie".

And so, last Friday, one of these "debates" took place at an event called "The Silver Summit" in Spokane, Washington. The "opponents" were Bill Murphy of GATA and Jeff Christian of the CPM Group. I think by now you aware of which side of the manipulation debate I fall on. However, in the spirit of full disclosure and free information, I present below the entire debate. A few caveats before you watch:

1) As described above, the format stinks. There should have been more free interaction between Bill and Jeff.

2) It's only 30 minutes long. This should easily have been at least 90 minutes.

3) The highlight of the entire video might just be the blonde that introduces it. Talk about hard assets!

4) As much as you might hope/pray, Bill never once sprints at Jeff and takes him down AFL-style. How he controlled the temptation to do so is beyond me.

The Great Silver Debate - Manipulation: Fact or Fiction? - GATA vs. CPM Group

Peter Grandich weighs in:

And then there's this from the FT, too:

At the end of the day, you can believe what you choose to believe. However, if it is widely accepted that central banks actively manipulate the currency markets (interventions) and bond markets (QE), why is it so hard to believe that they "manage" the price of gold, too?

Have a great Monday. TF

About the Author

turd [at] tfmetalsreport [dot] com ()


Oct 24, 2011 - 10:11am
Oct 24, 2011 - 10:18am

SVM Short squeeze

SVM up 16.35% and climbing with volume. KPMG report is out and clears the company. Perhaps this short squeeze will change the mood in the miners.

Oct 24, 2011 - 10:22am

You are quite right about the

You are quite right about the blond. Hard to concentrate on the "debate" after seeing her.

Oct 24, 2011 - 10:23am

The madness

of it all makes people say and do strange thing's............go long until you can't.

Oct 24, 2011 - 10:27am

Daniela Cambone

Very cool to see an intelligent, attractive woman actively participating in the PM Discussion.

Oct 24, 2011 - 10:35am

Daniela Cambone: Mama Mia!

That's the women you have, er, in mind there Big Hat...

Yeah I scooped you again a couple days back, this time on Ms. Cambone and her marvelous "stage presence". And secondarily on that little debate thingy too.

Here's Peter Grandich's take (oddly though: no comment on Daniela!?):

GATA Slays The Dragon

While it’s abundantly clear what I think about GATA, I do think it’s also crystal clear that the main opponents to them, Jeff Christian and Jon Nadler share a common trait:

“Their arrogance and smugness to anyone who doesn’t agree with them is only surpassed by their horrific performance in forecasting precious metals prices.”

It’s important to note this view is not universal to anyone who doesn’t agree with GATA or has been very bearish on gold. Mr. Robert Prechter has been dead wrong on gold for almost a decade. But he’s a true gentleman and simply fits into a category we all do (including GATA principles), we put our pants on one leg at a time.

When I look at what seems like a battle between the world and GATA, I conclude the following:

1-I work in the world of professional athletes and sports teams. And in the end, winning is the only thing that matters. The fact is GATA has been right for nearly a decade on the direction of gold and silver while its most ardent opponents have stunk up the field.

2-The mainstream financial world and the media that follows it hates gold and will always hate gold. Financial assets make their world go around and a rising gold price does nothing to help those assets (which they need to keep buying and selling to make their livings off).

3-Many of GATA’s opponents are well-funded while GATA has survived on very limited funds. It must rarely bother their opponents that the kooks, nuts and tin-foil hat people are still even around.

Bill Murphy, Chris Powell and GATA have been a 21st Century style “David vs. Goliath” battle and like the famed Bible story, the good guys shall/have won the battle.

Oct 24, 2011 - 10:46am

Nice breakout strength SVM

SVM is the star miner today....but watch out now at this price level is resistance and the elliott wave count is looking like a wave 5 completion here....which suggests a pullback ....maybe to the 8-7.60 area

The time to buy SVM was at 7 and 6 I wouldnt touch it chance would be this pullback for a bargain at ....7.60 area something like that ...watching support trying to hold at 8 dollars ...If we get another slam downwave in the miners in the next few weeks, SVM will be interesting to watch and see how strong it is in this game,and what strength it demonstrates at 8 dollar area.

Oct 24, 2011 - 10:46am

The kitco girls

i watch them every day..two girls. too much fun. it does make the PM interviews interesting. TURD can you add something like this

Oct 24, 2011 - 10:50am

Due to the length and format of the debate

Daniela was able to show the audience the biggest highlights immediately, up front.

Oct 24, 2011 - 10:59am

David vs Goliath

I was thinking about the debate again this morning and that is exactly what I would liken it too. Will Bill's slaying stone be a gold or silver one?


Edited to add: although some deride the FT, Gillian Tett is IMHO definitely worth listening to. It's interesting here in the UK that the Money Week journal, although they have been pro-Gold for 10 years & now pro-Silver, they will not cover any of the manipulation stories. I don't know why, but it has always puzzled me. At least Gillian Tett is willing to discuss them in the UK mainstream financial media.

Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

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Key Economic Events Week of 10/21

10/22 10:00 ET Existing home sales
10/24 8:30 ET Durable Goods
10/24 9:45 ET Markit flash PMIs
10/24 10:00 ET New home sales
10/25 10:00 ET Consumer Sentiment

Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
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10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
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10/9 2:00 ET September FOMC minutes
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10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
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10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
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10/4 8:30 ET BLSBS
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Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
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8/23 10:00 ET Chief Goon Powell speaks

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