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0:00-Context
2:07- Essay start
The World Gold Council (WGC) is tasked with being the responsible representative for the gold industry. However, the industry is not dominated by the producers of gold, nor by the end users, but rather by the intermediaries who operate between production and consumption. Specifically, this primarily refers to the Bullion Banks and members of the LBMA.
While the WGC advocates for gold ownership, it will never adopt an overtly bullish stance. Some would argue that the WGC is compromised and biased against gold ownership. This is not to say that explicitly, but the implications are evident.
