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<p>[QUOTE=&quot;World Colonial, post: 2403412, member: 78153&quot;]I agree with Jim Rogers but there are many other reasons available which provide much better evidence against any (implied) manipulation claim.</p><p><br /></p><p>With gold, it is historically overpriced versus most physical goods and presumably many services.&nbsp; The 1995 book At the Crest of the Tidal Wave includes a chart showing gold&#039;s relative purchasing power.&nbsp; It was above the top of the price range for the prior 200 years and since then, it has become more relatively expensive.&nbsp; I would have to dig it up but an Elliott Wave International special issue within the last five years shows the same result versus a basket of commodities.&nbsp; I don&#039;t have equivalent data but to my knowledge, silver is not significantly underpriced (if at all) versus most other commodities or other physical goods either.</p><p><br /></p><p>Gold is a lot more important than silver in the financial system, since it is used as a central bank reserve asset while silver has no role and is predominantly an industrial metal.&nbsp; If there was concerted manipulation, it sure has been dismal failure because from a multiple of 25 in February 1976, it has increased to about 70 today.</p><p><br /></p><p>In 2011, the Swiss National Bank attempted to suppress the CHF-Euro cross rate.&nbsp; I believe in 2014 after accumulating over $500B in FX reserves, they capitulated.&nbsp; In theory, the SNB could have issued an unlimited amount of CHF.&nbsp; In the real world where people actually operate, they did not.&nbsp; If the SNB failed to suppress the CHF, there isn&#039;t any reason to believe that &quot;material&quot; (as opposed to possibly limited) gold or silver price suppression has been successful either since neither can be issued in unlimited quantities and anyone can buy it.[/QUOTE]</p><p><br /></p>

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