Fascism and the Gold Market

Jim Willie writes that, "I have come to prefer Mussolini's definition [of fascism], which calls for wide merger of state and corporate interests even as personal liberties are curtailed. Of course, the markets will become more controlled, and might be sacrificed for the benefit of freedom, which will be accepted but which is totally contradictory. Official confiscation might become far less subtle in future years, I suspect. Perhaps it is my fear." (Slightly amended).

Antal Fekete has published yet another fascinating article in which he writes that:

"The hypothesis that Barrick has been set up as a decoy by a certain government is tempting indeed. The 1 million ounce of hedge (out of a total of 20 million at peak) that was lifted recently cost the company $384 per ounce, higher than the gold price was when the hedge was put on, yet the company reported a profit and declared an end-of-quarter dividend exceeding the previous. Just think of it: a gold producer goes into the market and buys gold at $384 and promptly gives it away for nothing, to the tune of millions of ounces! Does this not smack of a gold laundering scheme, run for the benefit of a government? Clearly, that government could not accumulate tens of millions of ounces through buying in the open market without upsetting the apple-cart."