One of the biggest laughs of the LBMA conference came when Smith presented the slide, ‘Emperor … With No Clothes’ which compared how the value of the Roman denarius, silver coin and the U.S. paper dollar have fared during periods of currency debasement.
The silver and gold market has been rife with speculation about ongoing price manipulation. Most investors are now familiar with this concept, and even the mainstream has admitted that undue market influence has occurred.
"Two years ago gold bugs ran wild as the price of gold rose nearly six times. But since cresting two years ago it has steadily declined, almost by half, putting the gold bugs in flight." That was written in 1976.