You may be asking yourself, did the central banks ever control the gold market? Yes, indeed they did! The gold Standard was the ultimate system of control they had until it was dropped. Then President Roosevelt’s Administration took control of the U.S. gold market when he confiscated all U.S. citizens held gold. Ownership of gold was only re-permitted in the early seventies. Even then the ‘powers that be’ declared that gold ownership was a privilege, not a right. That still holds. Few really appreciate the extent of central bank control over the gold market and gold price. We believe it is a critical aspect of the gold market and gold price, without which one cannot really understand the gold market.