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Mike "Dish" Shedlock gets an earful from GATA Tsy/Sec Powell

Submitted by gecko_x2 on Sun, 11/29/2009 - 07:22

Finally someone tries to knock some sense into this fool:

Chris Powell writes:

"Dear Friend of GATA and Gold:

People like Mike Shedlock of Sitka Pacific Capital Management in Edmonds, Washington, who writes Mish's Global Economic Trend Analysis letter, will never debate a GATA representative about manipulation of the gold market even as they aggressively misrepresent GATA's work, as Shedlock did again this week in his essay, "Conspiracy Theory Psychology": http://globaleconomicanalysis.blogspot.com/2008/08/conspiracy-theory-psy..."

and later in the article he deals the final deathblow:
 
...
Shedlock does acknowledge government's propensity for market manipulation. He writes:
"Of course there are conspiracies and manipulations. I have listed many of them. "Blatant manipulations:
"-- Term Auction Facility.
"-- Primary Dealer Credit Facility.
"-- Term Securities Lending Facility.
"-- SEC rule changes options expiration week.
"-- Selective enforcement of naked shorting rules.
"-- Discount window changes in options expiration week.
"-- Shotgun marriages arranged by the Fed.
"-- The bailout of JPMorgan/Bear Stearns."
 
"So Shedlock's position seems to be that government is trying to rig almost every market except the one government used to rig openly. What strange and sublime faith he must have! Despite the misrepresentation of GATA's work by Shedlock and others, we're actually in fairly respectable company in maintaining that the gold market is manipulated. Some big investment houses have said the same thing.
...
There's a lot of admission and documentation above, which, it seems, is why Shedlock, Kitco's Jon Nadler, the World Gold Council, and others who disparage complaints of manipulation of the gold market refuse to debate the issue, where they might be compelled to address the evidence specifically. But GATA remains ready, any time these folks or others on their side work up the honesty and courage."
... 
 
 
BTW: where have i seen that grin on Shedlocks face before..?  hmm.. Oh Yeah:
 
 

 

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