GATA
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I know Ed. I like Ed. But Ed is wrong about gold. And GATA as well.
Gold and silver are not manipulated (fixed) for the same reasons because they no longer serve the same role. Since being removed from circulation as money, they’ve diverged. Silver became an industrial metal with real consumption pressure. Gold did not. That distinction matters.
Historically, both were used as money not just because they were scarce, but because they were *non-consumable*. You could store them without competing against industrial demand. Once silver industrialized, that broke. You had two competing demand streams, monetary and industrial, pulling from the same supply. That’s why silver could no longer function cleanly as money.
Gold never had that problem. There has never been a global shortage of gold. The above-ground supply only compounds over time, and it isn’t consumed. It just sits there. That’s not a flaw, that’s the feature. It’s what makes gold viable as a monetary reserve asset.
That’s also why the manipulation narrative falls apart when applied the same way to both metals. Silver can be influenced through supply dynamics because it’s consumed. Gold can’t be constrained the same way because the float is massive and constantly growing.
You can see this in policy. The U.S. had a strategic silver stockpile and deliberately unwound it through the American Silver Eagle program to avoid flooding the market and collapsing price. That stockpile was fully depleted by 2002. If gold functioned the same way, they would have done the same thing. They didn’t. They held it.
Why? Because gold isn’t held to be used. It’s held to sit on the other side of expanding fiat liabilities as a neutral, non-counterparty asset. That’s its role.
So when gold moved from a fixed price to a floating market in the 1970s and immediately repriced higher, that wasn’t suppression failing. It was the system adjusting. If governments truly needed gold suppressed to protect fiat, they wouldn’t have allowed a 50-year structural uptrend.
Gold doesn’t need to be “kept down” to maintain the system. It scales with it.

Yeah, but the price is set by the paper manipulation, not the big buyers of the physical. Again, why don't you listen to the podcast that you posted a link to? Ed Steer and GATA Make it all very clear.
Explain Jane Street. They own or control billions of shares of Silver now. They're not a central bank. They're a manipulator of the market just like J.P Morgan .

I know Ed. I like Ed. But Ed is wrong about gold. And GATA as well.
Gold and silver are not manipulated (fixed) for the same reasons because they no longer serve the same role. Since being removed from circulation as money, they’ve diverged. Silver became an industrial metal with real consumption pressure. Gold did not. That distinction matters.
Historically, both were used as money not just because they were scarce, but because they were *non-consumable*. You could store them without competing against industrial demand. Once silver industrialized, that broke. You had two competing demand streams, monetary and industrial, pulling from the same supply. That’s why silver could no longer function cleanly as money.
Gold never had that problem. There has never been a global shortage of gold. The above-ground supply only compounds over time, and it isn’t consumed. It just sits there. That’s not a flaw, that’s the feature. It’s what makes gold viable as a monetary reserve asset.
That’s also why the manipulation narrative falls apart when applied the same way to both metals. Silver can be influenced through supply dynamics because it’s consumed. Gold can’t be constrained the same way because the float is massive and constantly growing.
You can see this in policy. The U.S. had a strategic silver stockpile and deliberately unwound it through the American Silver Eagle program to avoid flooding the market and collapsing price. That stockpile was fully depleted by 2002. If gold functioned the same way, they would have done the same thing. They didn’t. They held it.
Why? Because gold isn’t held to be used. It’s held to sit on the other side of expanding fiat liabilities as a neutral, non-counterparty asset. That’s its role.
So when gold moved from a fixed price to a floating market in the 1970s and immediately repriced higher, that wasn’t suppression failing. It was the system adjusting. If governments truly needed gold suppressed to protect fiat, they wouldn’t have allowed a 50-year structural uptrend.
Gold doesn’t need to be “kept down” to maintain the system. It scales with it.

Yeah, but the price is set by the paper manipulation, not the big buyers of the physical. Again, why don't you listen to the podcast that you posted a link to? Ed Steer and GATA Make it all very clear.
Explain Jane Street. They own or control billions of shares of Silver now. They're not a central bank. They're a manipulator of the market just like J.P Morgan .