by Chris Powell
Dear Friend of GATA and Gold:
MarketWatch tonight produces a true wonder of financial journalism. It’s a story acknowledging a rumor about “conspiracy theory” involving central banks, a rumor that MarketWatch blithely declines to investigate by questioning any central banker.
The rumor — speculation, really — is that, far from being a failure, the G-20 conference in Shanghai in February reached a secret agreement to reduce the U.S. dollar’s value in the currency markets.
It’s plausible, but note how the MarketWatch report takes for granted that central banks are willing and able to rig markets in secret, how the report assumes that this is the natural order of things and not even worth questioning.