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Dear Friend of GATA and Gold (and Silver):

Is President Trump’s nominee for chairman of the Federal Reserve, former Fed Board of Governors member Kevin M. Warsh, really a “hawk” on interest rates, as mainstream financial news organizations are claiming as an explanation for the sharp declines in monetary metals prices in the last 24 hours? 

While Warsh used to be considered “hawkish” on rates, his more recent statements have been more favorable to reducing them. Would the president be nominating someone he considered a “hawk” on rates after spending months demanding lower rates and deriding Fed Chairman Jerome Powell in the crudest terms for not lowering them faster?

Mainstream news organizations are also hailing Warsh as someone who will defend “central bank independence,” the euphemism for the Fed’s subservience to the investment banking industry.

In any case, two things can be said about Warsh as a matter of indisputable fact, though they aren’t likely to be acknowledged by mainstream news reports.

First is that Warsh knows all about U.S. gold price suppression policy. He volunteered his knowledge to GATA’s lawyer, William J. Olson of Vienna, Virginia, in September 2009 during GATA’s freedom-of-information litigation for access to the Fed’s gold records. 

Warsh wrote to Olsen that among the records the Fed was insisting on keeping secret from GATA were records of gold swap arrangements between the Fed and foreign banks:

http://www.gata.org/node/7819
 
Two years later in December 2011 Warsh wrote an essay in The Wall Street Journal about what he called “financial repression” by governments. Warsh wrote: “Policy makers are finding it tempting to pursue ‘financial repression’ — suppressing market prices they don’t like,” adding, “Efforts to manage and manipulate asset prices are not new”:

https://www.wsj.com/articles/SB10001424052970204770404577080181384917926

http://www.gata.org/node/10839

Soon after Warsh’s essay was published your secretary/treasurer reached him by e-mail at Stanford University in California and asked him if he had learned about “financial repression” through his service at the Fed. Your secretary/treasurer also asked him if he would specify the asset prices being manipulated by policy makers. 

Warsh cordially wished your secretary/treasurer a nice day.

So Warsh knows the score about gold price suppression and market rigging by government generally. Will he ever risk sharing it with the public as a matter of democratic accountability? And how long will he be in office as Fed chairman before Trump starts denouncing him as stupid and worse for not following presidential preferences, the fate that has befallen the president’s previous appointee as Fed chairman?

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

to nibble on some shares….particularly Silver plays a la SVM…… FWIW

No way did Trump appoint Warsh without Bessant’s approval…….and i agree Bessant is superb.

How about Fulton County election records confiscation!
Did we get more info from Maduro?

Also this:
Recent court filings in Coomer v. Byrne et al., Case No. 8:24-cv-00008-TPB-SPF (M.D. Fla.), contain sworn admissions by Dr. Eric Coomer, the former Director of Product Strategy and Security for Dominion Voting Systems, that materially alter the public understanding of foreign interaction with U.S. election system technology.

Filed on January 23, 2026, Coomer’s responses acknowledge that he worked directly with foreign individuals and foreign-based employees on Dominion voting equipment, adjudication software, election system code, and programming.

The sworn responses themselves are contained in the court filing below.

278-1Download
He further admitted that Serbian employees had the ability to connect to Dominion equipment located in the company’s Denver headquarters for troubleshooting purposes.

These admissions come after years of categorical public statements by Dominion and its executives denying foreign involvement in the company’s voting systems.

Eric Coomer’s court admissions reignite unresolved questions in Colorado’s Mesa County election case

every extended rally that is. The down day has always dwarfed any up day we had along the way.

I don’t see silver closing down 20% though. You’d think there would be folks lining up for delivery down here.

Paper is a powerful thing. Geesh.

If Trump had used Insurection Act, my full support.
Some say he ‘caved’.
But getting them to cooperate with ICE — isn’t that better?
Their scummy leaders are still under investigation.

Last week Bovino was asked something like how many illegal immigrants do they intend to deport. He answered, “All of them.”
Love it.

I think your China call is probably right. I don’t think we’ve ever seen pm’s up during the  Chinese New Year.

I don’t know about $5K and $100 today. Seems like there has to be some short covering at some point today, although Friday is the perfect day to slam the US.

Management goes over all their  royalties  and reasoning behind Tether deal.  Tehter conversation with Q & A in the middle

https://renmark-drupal.s3.amazonaws.com/vndr/elemental-royalty-corporation/2026-01-26-12-00-00/index.html

covering some of their shorts, then they’ll let the miners rise into the Chinese New Years

Public Holiday

In China, the public holiday for Chinese New Year will be from February 15 to February 23, 2026, allowing for a nine-day break for many workers.

And then they’ll hit them again when the Chinese are on holiday……

We may get a 2 week reprieve until their machinations rear their heads again…

The east has been studying the industrial country’s for decades. I don’t think they’re gonna get strong armed out of it by paper traders sitting behind a computer. That risk is on us in the stock market making me regret not staying on my path with physical assets not in just metals , including things like  real estate getting out on highs a yr early then buying back two or three more instead of depending on the market. My initial instincts not to trust them was right.

The market is like having unsecured dollars out there for someone with no life of their own to steal from you. China knows that and that they’re predictable. Theyre holding the phyzz they cannot reach on a computer or take with any paper policies and they’re not going to let these paper traders that don’t have it or something they would want because they don’t want their dollars anymore either  dictate the price.

…. they want to close spot gold below $5,000 and silver $100 for the monthly paint job.

Did you see the PPI numbers out today? … through the roof … and we are supposed to think this is just coincidence the day Mr Slammy shows up in PMs again.

Chuckle … snort

No wonder the silver is going from West to East!

maddog – I don’t know much about Warsh, other than the name and that he’s been around in the banking/academia circles for a long time. They say he’s a hawk. I don’t know if that is true either. That won’t fly with Trump. If he is indeed a Bessent guy, that is the best news we could get. Bessent is awesome. I can only hope so. I truly hate the US Senate.

One more thing. Judy Shelton who I mentioned earlier said that Trump told her that in July 2026 they would revalue gold to $20K and introduce gold backed bonds. That might be the only thing that could help the dollar going forward. I believe her, Bessent’s largest holding is gold.

deer79 – the industrial guys should be buying today or Monday Shanghai as you say. This may not get a lot cheaper for them. We’ll see. I like how the shares are behaving for a change.

Well that’s a switch.  Premiums to keep the price up instead of down. If there wasn’t a shortage how would they get away with that?

I heard people were running to sell their silver and their gold for fiat the other day. Hope they needed it for a good reason. A lot of the stocks surprised their current first round phyzz target  highs because of demand for the metals so profit taking would be normal but not all the mines have even hit these temp highs yet.

I have to think that the savvy buyers are also well aware that this could very well be end of the month window dressing by the scum, and are stepping back until next week….

Still ugly as sin, but a good thing.

Thanks to one of our posters here, you can also get the Shanghai price from Bullionstar – I think it’s worth watching.

Live Silver Spot Price & Charts

Good logic! 🙂 I hope you’re right.

Why does the Fed exist, again?

Yes in the big picture this selloff means nothing. It’s probably healthy … getting some of the froth out of the POG.

Cheers

Re talking heads, blame Warsh

tells me he is Ok , as they must hate him.

https://goldsilver.ai/metal-prices/shanghai-silver-price

Just reading up on Warsh….seems he was/is a heavy critic of the way the Fed was/is run and to me most important is on message with Bessant…..Bessant talks the same language….my guess is the revaluation is in safe hands.

… wait … wait … I thought the sky was falling because of Warsh … if that’s true (maybe not – and it doesn’t matter) … then why is the Dow up? … oh it’s just another PM tamp down at month end to paint the tape again … oh … will it ever end?

Guffaw … Spit