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Old 09-23-2009, 07:50 PM
Location: Great State of Texas
86,067 posts, read 78,523,997 times
Reputation: 27662


Little by little leaking from the Fed.
Oh what an audit will show....

There was talk of manipulation and supression of price in the gold markets..almost all of the gold-type newsletters talked of it and suspected the Fed or the PPT..similar to the oil spiking last summer. Some other financial blog over the summer pointed out a change in the Fed minutes regarding how they listed swaps and compared month to month reports.

So not only do we have the PPT "helping" the markets we also have the Fed "assisting" other foreign banks with gold swaps.

Now I'm even more certain that there's nothing more than a slip of paper with "I.O.U" in Ft. Knox.

Federal Reserve Admits Hiding Gold Swap Arrangements, GATA Says

"Warsh wrote in part: "In connection with your appeal, I have confirmed that the information withheld under Exemption 4 consists of confidential commercial or financial information relating to the operations of the Federal Reserve Banks that was obtained within the meaning of Exemption 4. This includes information relating to swap arrangements with foreign banks on behalf of the Federal Reserve System and is not the type of information that is customarily disclosed to the public. This information was properly withheld from you."
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Old 09-29-2009, 05:40 PM
Location: Backwoods of Maine
7,327 posts, read 9,316,379 times
Reputation: 20248
Yes, I read about this at the GATA website. I (and many others at GATA and elsewhere) already knew what the Fed was doing. It just seemed so weird that as the gold price would rise, all of a sudden some central bank or the IMF would announce a gold sale, and the POG would fall. Not that it was obvious, or anything!

Likewise, I'm confident that Fort Knox is echo-hollow empty. The Fed had access to all that gold, much of it confiscated by FDR in 1933. Anyone who thinks the Fed would not throw the kitchen sink at gold to keep the price down, is day-dreaming. Also, Fort Knox hasn't been audited since 1953 or 54, and repeated requests for same are always turned down. "Our" gold was changed from "Custodial gold" to "Deep Storage Gold" after someone made a stink about whose gold we were being custodians for! Now, we know it was at least the Germans. They'd like their physical back!

The truth is, gold is the enemy of central bankers. They simply cannot freely print up oodles of unbacked paper fiat currency, in the presence of a gold standard. If they can't print, they can't make money on interest, as all FRNs have to be borrowed into existence. No wonder Woodrow Wilson said, "I am a most unhappy man. I have unwittingly ruined my country...".

I guess so. Now we have to pick up the pieces, if there are any left.
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