The Gold Cartel: Government Intervention on Gold, the Mega Bubble in Paper, and What This Means for Your Future

by D. Speck

Overview

The Gold Cartel is an insightful and thought-provoking analysis of the world market for gold, how it works, and what influences gold price. But it also lends insight into something more disturbing – the organized intervention in the gold markets by Central Banks.

Product Details

ISBN-13:	9781349449347
Publisher:	Palgrave Macmillan UK
Publication date:	01/01/2013
Edition description:	1st ed. 2013
Pages:	302
Product dimensions:	6.10(w) x 9.25(h) x (d)

About the Author

DIMITRI SPECK is commodity analyst and chief developer of trading strategies for asset manager Staedel Hanseatic, where he is responsible for the Stay-C commodity fund that won the Hedge Fund Journal's award as best European commodity fund. He specialises in economic history and empirical measurable market patterns, and in 2001 he discovered, with the help of intraday anomalies, that central banks have been systematically intervening in the gold market – research that formed the basis for this book. Speck holds a patent for an iterative financial market, is the author of numerous articles on the gold markets and other financial topics, and is publisher of the financial website www.seasonalcharts.com.

Table of Contents

Preface 1. Why Gold? 2. The Crises of the 1990s 3. The Strange Behavior of Gold During Crises 4. The Strange Intraday Behavior of Gold 5. The First Statistical Studies 6. Statistical Proof and Dating of Gold Interventions 7. Intraday Movements of the Gold Price 1986-2012 8. Gold is Different 9. Means of Gold Market Intervention I: Sales 10. Means of Gold Intervention II: Gold Lending 11. The Gold Carry Trade 12. Coordination of Private Banks and Central Banks 13. Giving the Game Away: Central Bankers are Human Beings Too 14. The Books are Silent 15. The Miraculous Gold Multiplication 16. How Much Gold is on Loan Worldwide? 17. Means of Gold Intervention III: Intervention through the Futures Market 18. The Gold Pool and Other Gold Market Interventions before 1993 19. August 5 1993, 8:27 a.m. EST: The Beginning of Systematic Gold Market Interventions 20. The Decisive Fed Meeting 21. Greenspan Ponders Gold Market Interventions 22. Phases of Gold Price Suppression 23. Shock and Awe 24. The Financial Market Crisis of 2008 and the Euro Crisis of 2011 25. Strong Dollar and Weak Mining Sks 26. Interventions in the Silver Market 27. Swapped Bundesbank Gold and Other Mysteries 28. Who Intervenes? 29. The Mystery of May 18 2001, 12:31 30. The Effects of Gold Price Suppression 31. The Wonderful World of Bubbles 32. Have Many Mini-Bubbles Created a Mega-Bubble? 33. Money or Credit 34. Possible Scenarios for the Future 35. Back to Gold

Editorial Reviews

"From my studies in economic history I am not familiar with a single instance where a market manipulation has been successful in the long-term. Governments and their Agencies always impose price support or price suppression measures (for instance price and wage controls) but market forces always dispose of these interventions by prices collapsing through support levels or soaring though the temporary controlled prices. It is my opinion that soaring gold prices in future will completely destroy the little credibility central banks still enjoy. This is a very good and well researched read." - Marc Faber, Editor, The Gloom Boom and Doom Report

"The Gold Cartel is a brisk, articulate and convincing read. Even so, it remains extremely sound. A miracle!" - Professor Heinz Christian Hafke, former German Bundesbank Director

From the Publisher