The problem with central bank manipulation theory is you eventually run out of gold to keep using this excuse.
In 1998/99 GATA said central banks "lost forever" 7500 tonnes suppressing gold in the 1990s, which they updated to 15,000 tonnes a few years later. Given the explosion of global demand for bullion since GFC, how much has gone now, 100,000 tonnes?? (oh that right, we've got 100-1 leverage to account for this discrepancy with gold to "infinity" any day now).
More gold is being "dumped" (as Douglas puts it) because more gold is being purchased. This is what happens in bull markets... volumes increase as price rises. There's about 70 years worth of annual production sitting above-ground, most of it in private hands available for sale.
Finally, how one can make comparisons with the 1960s London Gold Pool is beyond me. Good grief, the gold price has risen by factor of five since 2001, from $254 to $1275.
