Bill Murphy (businessman)
Bill Murphy is a former American professional football player, financial commentator, and noted gold bug who serves as the chairman and director of the Gold Anti-Trust Action Committee (GATA). Murphy and GATA are the author of a number of essays promoting conspiracy theories related to alleged manipulation of the precious metals markets. Murphy believes the price of gold is artificially low and has spent years lobbying the US government to investigate market manipulation in the gold market.
Early life, education and early career
Born William J. Murphy III, he grew up in Glen Ridge, New Jersey and graduated from Cornell University in 1968. While in college, he played American football and went on to become a starting wide receiver for the Boston Patriots. He then went to work at Merrill Lynch as a trainee learning the commodities markets. He later worked at Shearson Hayden Stone and Drexel Burnham, eventually starting his own brokerage firm. From 1993 to 1996, Murphy lived in Miami, Florida, where he was an entrepreneur Murphy is now a financial commentator and operates a financial website for investors of gold.
Gold markets and criticism
Murphy began compiling evidence and writing about alleged manipulation of the gold market in the mid-1990s. However, Murphy and GATA are widely dismissed as cranks, and their beliefs as fringe by reputable economists, business leaders and government officials.
- Contributor biography Financial Sense. Retrieved May 8, 2011
- Jane Bussey, "Simmering Debate on the Economics of Gold Takes a Turn" The Miami Herald (June 9, 2002), republished at gata.org. Retrieved June 6, 2009
- Peter A. McKay, "Despite Jittery Market, Gold Just Isn't Shining" The Wall Street Journal (March 8, 2000), republished by Philip Greenspun. Retrieved June 8, 2009
- Joel Bainerman, "Is gold being manipulated?" Haaretz, republished on gata.org (December 27, 2005). Retrieved June 6, 2009
- "GATA and Gold: The Truth is Revealed". The Motley Fool. Retrieved 26 July 2014.
- "Debunking the Post-CFTC Precious Metals Fear Mongering Campaign". Peak Prosperity. Retrieved 27 July 2014.