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Why didn't Handelsblatt ask the Bundesbank the right questions about gold?

By: Chris Powell, Secretary/Treasurer, GATA

 -- Published: Friday, 21 February 2014 | Print  | Disqus 

Dear Friend of GATA and Gold:

Germany's Bundesbank has posted an English translation of an interview published Wednesday by the German business newspaper Handelsblatt with Bundesbank Executive Board member Carl-Ludwig Thiele, an interview that unfortunately concentrates on the logistics of repatriating some of Germany's gold from the Federal Reserve Bank of New York rather than on what might have been done with that gold:

(Thanks to gold researcher and GATA consultant Koos Jansen for calling attention to the interview.)

As if by calculation, Handelsblatt asks Thiele no questions aimed at the gold market policies of the Bundesbank, the Federal Reserve, and allied central banks, including:

1) In the last 20 years has the Bundesbank engaged in gold swaps or leases with other central banks, including the Federal Reserve and U.S. Treasury Department, or with other financial institutions? If so, what were the purposes of those swaps and leases?

2) In the last 20 years has the Bundesbank traded in gold or gold-related financial instruments, directly or through the Bank for International Settlements or other intermediaries? If so, what was the purpose of such trading? Does the Bundesbank have gold accounts at the BIS or other central banks or financial institutions now? Will the Bundesbank disclose the records of such trades and accounts?

3) Is the Bundesbank aware of any central bank interventions in the gold market in the last 20 years? Will the Bundesbank disclose such interventions?

4) Will the Bundesbank disclose any and all correspondence it has had involving gold with other central banks and financial institutions in the last 20 years?

5) In the last 20 years has the Bundesbank participated in any meetings of the G-10 Gold and Foreign Exchange Committee or similar international committees involving the gold market? Does the Bundesbank have any records of such meetings and, if so, will the Bundesbank disclose them?

6) Over the last 20 years what has been the Bundesbank's policy, if any, toward the gold market? How, if at all, is the Bundesbank still involved in that market? Does the Bundesbank provide or has the Bundesbank provided support in any way to the Western fractional-reserve gold banking system?

Of course it's easy to understand why the Bundesbank and other central banks might not want to answer such questions. Answers might disclose market rigging and deception. But why won't Handelsblatt ask such questions? Indeed, why won't any Western financial journalists put such questions to any Western central bank? Are market rigging and deception by government perfectly acceptable to financial journalism?

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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 -- Published: Friday, 21 February 2014 | E-Mail  | Print  | Source:

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