Gold Manipulation...A Smoking Gun?

My Comments: This is a good commentary from Mike Shedlock on his blog. This is his commentary on a memorandum from then Fed chairman Arthur Burns to Kissenger and Greenspan amongst others.

Misplaced Fears

If governments today are still acting to suppress the price of gold by the same methods, let's have more of them because they clearly aren't working.

Given that the price of gold is roughly $1,000 an ounce, it goes to show that governments are not bigger than the market, and that such manipulation (even if it does still exist) can never work in the long run.

The fear should not be of government to government agreements that can never work in practice, but rather a fear that governments may tax gold sales profits at some phenomenal rate, thereby effectively confiscating gold a second time.

Link to original post here...
Link to Shedlocks commentary here...

My Comments: I think Shedlocks take is spot on. Its fun to read about the manipulation and to be informed...BUT...as he says these fears are misplaced. Over time govts. fail at everything. What you need to focus on is a plan of action to take advantage of their manipulations and use this informatin to protect yourselves. In my opinion the best way to do this is to have a plan.