CBC Documentary on Gold and Silver Price Manipulation

Gold coin in the river

Tonight on CBC, the documentary The Secret World of Gold airs.

The CFTC is sitting on information that implicates JPMorgan as manipulating the futures market in Silver and Gold.  The reason this is so damning is that the CFTC has evidence that incriminates JPM as having malicious short positions designed to influence the price action of Silver and Gold towards JPM’s favor; akin to the LIBOR scandal in which rates were manipulated down towards the banks favor. 

JP Morgan whistleblower

The precious metals community has been saying for years that the price of gold and silver has not been rising and falling in the manner of a free market. Perhaps the documentary tonight will bring information of manipulation by powerful players into the mainstream.

The Secret World of Gold is a documentary exploring the power and politics of gold, a precious metal with more allure and fascination than any other.  Valued for its permanence, beauty and scarcity, people will lie, cheat, steal and kill in the name of gold.

To finance the Third Reich, the Nazis went after the gold of Europe. Allied countries stored their gold offshore to keep it safe. In the first months of the Second World War, the gold of England and France was secretly shipped to vaults in Montreal, Ottawa and New York.

Those ships made it safely to port, but throughout history, many were not so lucky. It is estimated that worldwide, 3 million shipwrecks loaded with treasure lie at the bottom of the ocean. Odyssey Marine, an American company listed on the NASDAQ stock exchange, spends huge amounts of money to search for that gold. But there’s always the risk they will have to hand it over to countries claiming ownership.

In recent years, economic uncertainty is giving gold a new lustre in the world of high finance. Whether it’s a few gold coins or gold bars stored in one of the many vaults around the world, many investors are taking a shine to gold. But there’s not a lot of it. It is said that, even melted down, there would not be enough to fill an Olympic swimming pool.

Some claim that much of the gold held by the Bank of Canada, the Bank of England, the Federal Reserve and Fort Knox is gone — that for every 100 ounces of gold traded, there exists only one ounce of real, physical gold. So, where is the gold — and who really owns it?

Directed by Brian McKenna for Galafilm with CBC-TV.

What started as a historical documentary on gold took a change of direction when the whistleblower was discovered by McKenna. The whistleblower posted a note on the CFTC‘s website on March 15, 2012, alleging that JP Morgan was manipulating the price of gold and silver.

For those interested in gold and silver, and our basic monetary system, it will be interesting to watch if there are any repercussions to the public airing of the documentary.

Monetary systems are based on trust. If trust is gone then people tend to flee to gold and silver. What happens if there’s no trust in gold and silver prices?

Tonight. CBC. The Secret World of Gold.

For more on the whistleblower here is the Silver Doctor article.

For more on gold and silver here is the very informative King World News website.

Coins and Crowns

words and music Elaine Diane Taylor

© 2011 Intelligentsia Media Inc.
SOCAN/ASCAP

available on iTunes and Amazon

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