Interviewed about the world economic situation by our friend the German journalist Lars Schall, the frankly liberal and Keynesian economist and Toronto money manager Marshall Auerback fully credits GATA's work.

"GATA has provided most of the intellectual foundation for truly understanding the gold market," Auerback tells Schall. "The central banks have intervened for years in the forex markets, the bond markets, and now there is ample speculation that they do in the equity markets as well. Why should gold be that different? If anything, it's the easiest market to manipulate, given the substantial above-ground holdings of central bank gold stockpiles and the relatively small size of that market (relative to, say, the foreign exchange markets). And yet for years GATA's work was dismissed as heresy. Why? I can only conclude that the vociferous way people tried to discredit them for years demonstrates that they were giving us the truth and some very powerful people felt threatened by that. But they courageously continued on and I think they are now recognized by most serious observers of the gold market as being fundamentally correct."

"Most serious observers"? Maybe. When we get through to The Wall Street Journal, Financial Times, Bloomberg News, and Reuters we'll be sure to let everyone know. In the meantime, Schall's interview with Auerback is headlined "The Road to Recovery Is a Dead End" and you can find it at Schall's Internet site here:

http://www.larsschall.com/2011/05/22/the-road-to-recovery-is-a-dead-end/