Anyway, if we use history as a guide, these economic reports and FOMC announcements in the past have repeatedly been met with intervention by central planners in an attempt to keep the price of gold and silver under their thumb. No Fed official wants to be embarrassed by a rising gold price when testifying before Congress, which explains why the gold price dropped during Fed Chairwoman Janet Yellen’s testimony two weeks ago.
Similarly, no Fed official wants to admit that six years of unprecedented money printing has failed to produce a meaningful economic recovery because it would expose the lie that central planners and their money printing are beneficial.
Fortunately, in addition to more people understanding that the gold price is manipulated, more people are questioning the role of the Fed and starting to understand that the Fed serves the banks and the federal government, not the American people, by printing money to perpetuate the illusion that an over-leveraged federal government is solvent when in fact it is not.
- James Turk via a recent King World News interview