Profit, Protection, Despite Cartel Intervention – December, 2012 Update
Thursday, 13 December 2012
“Western central banks conceal their gold loans and swaps because information about them is ‘highly market-sensitive and accountability about them would hinder secret currency market interventions by central banks, according to a confidential report by the International Monetary Fund obtained this week by GATA. …
“This is, the explicit but secret policy of Western central banking toward gold is to deceive and manipulate markets, as GATA long has complained. …
“…they considered that the Special Data Dissemination Standard reserves template should not require the separate disclosure of such information but should instead treat all monetary gold assets, including gold on loan or subject to swap agreements, as a single data item.”
“Secret IMF report: Hide gold loans and swaps for market manipulation,”
The GATA Dispatch, Gold Anti-Trust Action Committee, 12/11/2012
In a remarkable Coup, the Gold Anti-Trust Action Committee (gata.org) has uncovered even more evidence that Major Central Banks and their Allied Banks are Systematically Suppressing the Prices of Gold and Silver.
This Ongoing Price Suppression legitimizes and bolsters the Ostensible Value of their Treasury Securities and Fiat Currencies as stores and measure of value vis-à-vis Gold and Silver.
Remarkably, The BIS, The Central Bankers’ Bank, advertised in June, 2008 that one of its “Products” was “Interventions” in the Gold Market, as well as Currencies.
The Price Suppression Scheme is International, involving many Banks as Mr. Rigaudy’s characterization implies.