Reply #94: Paul Volcker Said, "Letting Gold Go to $850 Was a Mistake."

[Buttercup McToots]

Paul Volcker Said, "Letting Gold Go to $850 Was a Mistake."

In looking back at the rise of gold from $35 to $850 during the 1970s', Paul Volcker said, "It was probably a mistake to allow gold to rise so high." Not only does that statement presuppose that the U.S. could have controlled the gold price, but it also suggests the establishment's arrogance in assuming they have a right and obligation to do so. How anyone believes gold is not manipulated from time to time is a mystery to me, given all the evidence provided by the Gold Anti Trust Action Committee (GATA), Reginald Howe's lawsuit as well as the Blanchard lawsuit, and given the importance of keeping the public believing in paper as money rather than gold. I guess people simply believe what they want to believe.