Rick Rule’s take on gold price manipulation May 24, 2022
“The gold price may be ‘manipulated’ on a short-term by traders using various trading techniques, but there is no ‘vast conspiracy’ for governments to orchestrate the long-term suppression of the gold price, according to Rick Rule, Founder of RuleInvestmentMedia.com and former President and CEO of Sprott U.S. Holdings.
‘The idea that there's some vast conspiracy between governments and central banks and the Trilateral Commission to depress the price of gold… seems silly to me,’ said Rule. ‘I mean, look at the supposed players. The government can't deliver the mail, they can't educate the kids, and [yet] they can preside over a 40-year manipulation of the gold price? I don't reckon.’
Rule spoke with Michelle Makori, Editor-in-Chief and Lead Anchor at Kitco News, at the Vancouver Resource Investment Conference.
However, on a short-term basis, the price of gold has been subject to price manipulation. Rule said.
‘[To] say that short-term gold markets are manipulated, I wholeheartedly agree with,’ he said. ‘I believe that all markets are and can be manipulated in the short term. If they can manipulate a market the size of the U.S. Treasury market with a LIBOR market, for sure they can manipulate the gold market.’”
https://www.kitco.com/news/2022-05-24/There-is-no-vast-conspiracy-to-suppress-gold-price-Fed-will-back-off-aggressive-rate-hikes-Rick-Rule.html