Suspicion about Bundesbank's gold dealings with Fed is getting respectable Friday, January 25, 2013
Dear Friend of GATA and Gold:
Interviewed today for market analysis by ... Kitco News, Cameron Hanover Managing Partner Vince Lanci disparages the Bundesbank for "lying" as it changed positions on repatriating Germany's gold reserves. Lanci also speculates that the German gold may not be readily available because the Federal Reserve Bank of New York may have loaned it to bullion banks to facilitate the gold carry trade over the years....
Lanci ... interview with Kitco News is its showing that the Bundesbank's gold repatriation has made discussion of central bank gold loans respectable even as financial journalists and commentatators still are not prepared to put the compelling questions to the primary sources, the central banks themselves, as GATA long has been doing in litigation and through ordinary inquiries:
... at the first link above, the Federal Reserve grudgingly admitted to GATA in 2009 that it has secret gold swap arrangements with foreign banks. Thus swaps as well as loans should be part of any questioning of central bank gold policy.
.... the confidential International Monetary Fund report obtained and published by GATA last month, central banks loan and swap gold and conceal the transactions to facilitate their secret interventions in the gold market: http://www.gata.org/node/12016
... How much longer can this neglect of the obvious continue?
Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul ☑
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