The US is sinking ... sinking ... sinking, page-60

Cashman

"Wouldn't you say that as the Fed has manipulated interest rates / currencies that that also equates to manipulation of commodities?"

No I wouldn't.

The claim has been made by GATA and others that the Fed intervenes directly in the gold market to hold the price down (for reasons they never properly explain). That is a very different thing from the Fed changing interest rate settings that may have an impact consumer spending and the industrial demand for commodities.


You had to go back to 1966 to find a Greenspan quote to support your argument? LOL

I could point you to an "off the cuff" Greeenspan comment to Congress in 1998 that gets other gold bugs excited. See paragraph 6
http://www.federalreserve.gov/boarddocs/testimony/1998/19980724.htm
On this occasion Greenspan is actually proposing that the Fed could intervene to prevent manipulation in the gold market, but GATA never lets the truth get in the way of a good story.