While some market participants were caught offside by Vladimir Putin’s move towards gold amidst the recent Ukraine war, it’s interesting to note that they’ve been watching the gold market for quite some time. And perhaps even more importantly, they’re aware of some of the reasons the gold price isn’t higher, and how that’s a vulnerability of the US dollar and the western financial system.
In today’s show, I talk with Bill Murphy of GATA (The Gold Anti-trust Committee) who describes how Russian officials attended conferences where he presented information about gold leasing and how the market was being managed by western banking officials. They took a keen interest in what he was saying back in 2003, which perhaps explains some of their thinking behind the recent moves.
In this call, Bill also provides an update on the open interest in the silver market, and to find out more, click to watch the video now!