Central Bank "Gold Reserve Mgt." 3 day seminarSubmitted by Mark Twain on Wed, 02/13/2013 - 14:06
Dear Gold Anti-Trust Action (GATA) & Friends: ~ Wednesday, Feb 13, 2013
cc: Mark Twain,
Subject: Gold. Central Bankers getting schooled in real money
Here is an Edit of Your Original Article down to Reader Digest size & weight.
[Bankers to be taught be World Gold Council in Berkeley, California.]
Central bankers will be taught how to trade gold. Three-day seminar covers "gold reserves management." Seminar is coming in March the University of California at Berkeley and co-sponsored by the World Gold Council.
Apparently modern "Gold Reserve Management" involves more than making sure that the metal is safe in a vault. Central bank accounting to public for its gold trading? Seems beyond scope of this seminar.
One seminar lecturer is familiar with how central banks intervene: Kenneth Sullivan, senior financial sector expert, International Monetary Fund (IMF), whose secret March 1999 staff report found that Western central banks conceal their gold loans and swaps to facilitate surreptitious market intervention:
Kenneth Sullivan is the IMF's representative on the International Financial Reporting Standards Advisory Council and chairs central bank accounting study groups addressing issues of transparency in central bank financial reporting. That must be a frustrating job for anyone really pursuing transparency.
Pursuing transparency? Its invitation is limited to
- "senior central bankers -- governors, deputy and assistant governors, heads of reserve management, economists, and portfolio managers," and "finance ministry officials and treasury managers."
So will the World Gold Council explain to gold mining companies and gold investors?... What are... central banks trading in gold futures, options, and derivatives? Traded for them by their agent? The Bank for International Settlements? Is the objective to maximize the value of gold at the expense of government currencies and government bonds? - Or - Maximize the value of government currencies and government bonds at the expense of gold?
And if, with the seminar, the World Gold Council isn't actually facilitating central bank manipulation of the gold market, why keep the public out?
The seminar's announcement is posted at GATA's Internet site here:
And at the World Gold Council's Internet site here:
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Palm Desert, California
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UCBerkeley-WGCSeminar-2013.pdf  Seminar 1.02 MB
Source URL: http://www.gata.org/node/12234