Come clean about gold, congressman tells Treasury and Fed

Wednesday, April 25, 2018
By Paul Martin

By: Chris Powell
GoldSeek.com
Wednesday, 25 April 2018

Dear Friend of GATA and Gold:

A member of Congress this week asked the U.S. Treasury Department and Federal Reserve to come clean about government policy toward gold.

The congressman, U.S. Rep. Alex X. Mooney, R-West Virginia, sent a letter to Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell raising issues similar to those GATA long has been raising about the U.S. government’s surreptitious involvement in the gold market.

Mooney wrote: “Records in the archives of the historian of the U.S. State Department describe U.S. government policy in recent decades as aiming to drive gold out of the world financial system in favor of the Federal Reserve Note or Special Drawing Rights issued by the International Monetary Fund.

“Is this still U.S. government policy toward gold? If not, what is the U.S. government’s current policy toward gold?

“I have heard complaints that the U.S. gold reserve has not been fully audited for many decades, particularly as there seems to have been no acknowledgement of — or account for — ‘swaps’ and leases of gold or arrangements for such to which the U.S. government has been a party.

“Does the U.S. government, through the Treasury Department, the Federal Reserve System, or any other agency or entity, transact in gold or gold derivatives either directly or through intermediaries? If so, what are those transactions and what are their objectives?

“Does the U.S. government undertake any transactions in gold or gold derivatives through the Bank for International Settlements, Bank of England, or other central banks or governments? If so, what are these transactions and their objectives?”

Mooney asked for responses in writing.

The Rest…HERE

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