Gold remains what it has been for thousands of years – an excellent form of money – and may again become the best and most important form of money. More than this, gold is actually the secret knowledge of the financial universe, a secret desperately concealed by most central banks.
Why have Western central banks been rigging the gold market?
It’s because gold is a powerful competitive international currency that, if allowed to function in a free market, will determine the value of other currencies, the level of interest rates, and the value of government bonds. In a free market gold’s performance is usually the opposite of the performance of government currencies and bonds. A rising gold price signifies the weakening of government currencies, at least the government currencies in countries that don’t produce a lot of gold.
So central banks fight gold to defend their currencies and bonds against competition.
The problem is that the tactics of Western central banks in their war against gold affect far more than gold. They affect markets generally and eventually destroy markets generally and damage the economies of all commodity-producing countries. This destruction of markets now has a name, a name used even by former members of the U.S. Federal Reserve Board. That name is “financial repression.”
Read the full article by Chris Powell on Money Metals Gold market manipulation: Why, how, and how long? (2021 edition – Part 1)