BIS president in 1981: We’ve got to start rigging the gold market
By: Chris Powell, Secretary/Treasurer, GATA
GoldSeek.com
Wednesday, 22 April 2015
Dear Friend of GATA and Gold:
“Regulating the gold price in the free market” was recommended to central banks by the president of the Bank for International Settlements,” Jelle Zijlstra, in a speech at International Monetary Fund headquarters in Washington in September 1981.
The speech, located this week by gold researcher and GATA consultant Ronan Manly, was given as a lecture memorializing the former managing director of the IMF, Per Jacobsson.
Those who follow GATA may recall that Zijlstra, who was president of the Netherlands Central Bank simultaneously with his holding office at the BIS, wrote in his memoirs in 1992 that the price of gold long had been held down by central banks at the behest of the United States, which sought to minimize competition for the dollar as the international reserve currency:
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