Gold owners ‘got tricked’ in 1933, Mario Innecco says, and bullion banks are still trying to keep gold ‘under control’ - Kitco
Gold owners ‘got tricked’ in 1933, Mario Innecco says, and bullion banks are still trying to keep gold ‘under control’ - Kitco
Source: Kitco
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DW NOTE
In 1933, Roosevelt compelled domestic gold surrender at $20.67, then revalued it to $35 — a 69% devaluation of the dollar against the metal holders had just been forced to sell. Innecco is arguing that suppression never ended, it just moved from Executive Order 6102 to futures market structure. Whether he's right or not, gold is down 21.5% from its January peak while the 10-year yield has climbed 29% — which suggests the current suppression mechanism, if it exists, is called interest rates.