Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Closing Report: Gold and Silver Fall Over 1%
By: Chris Mullen, Gold Seeker Report

What’s Going On With Gold?
By: Dave Kranzler

Gold and Silver Investors’ 8 Commandments for Avoiding Rip Offs
By: Stefan Gleason

Gold: World Currency Or Ultimate Asset
By: Stewart Thomson

Jack Chan's Weekly Precious Metals Market Update
By: Jack Chan

Physical and Cryptographic Silver are Asymmetric Trades
By: David Smith

Michael Pento: How The Trade War Will Hurt The US — And The World
By: John Rubino

EXTREME OIL PRICE VOLATILITY: Bad Sign That All Is Not Well In The Markets
By: Steve St. Angelo

Oil Takes Center Stage: Commodities Halftime Report 2018
By: Frank Holmes

How Does Gold Affect Climate?
By: Arkadiusz Sieron

 
Search

GoldSeek Web

 
Greenspan says he's not aware of gold price suppression through central bank leasing

By: Chris Powell

 -- Published: Monday, 27 October 2014 | Print  | Disqus 

Dear Friend of GATA and Gold:

The opportunity to question former Federal Reserve Chairman Alan Greenspan about central bank intervention in the gold market was spectacularly fumbled today during Greenspan's appearance at the New Orleans Investment Conference.

Interviewing Greenspan, conference moderator Gary Alexander asked if the former Fed chairman was aware of efforts by central banks to suppress the price of gold by leasing the metal to bullion banks, which would sell the metal into the market.

"I'm not aware of anything" like that, Greenspan replied, though of course central bank gold leasing to suppress gold's price was famously a subject of Greenspan's testimony to Congress in July 1998, wherein he opposed legislation to regulate derivatives:

http://www.federalreserve.gov/boarddocs/testimony/1998/19980724.htm

Greenspan told Congress then: "Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise."

Had Greenspan forgotten his testimony? After all, it was 16 years ago.

During a break in the interview, your secretary/treasurer urged Alexander to follow up with a question about that testimony -- and he did, but only to misquote it. Alexander asked Greenspan if he remembered testifying to Congress that "the Fed," not central banks generally, stood ready to buy gold, not lease it, to influence the price.

Greenspan replied that it was "not conceivable that I would have said that" -- and of course he never did.

The interview was doubly disappointing insofar as Alexander and the other conference panelists discussing issues with Greenspan today had been given, several days in advance, the very specific, detailed, and documented questions that have to be put to central bankers if their gold price suppression scheme is to be exposed, the first of those questions being about Greenspan's testimony on gold leasing:

http://gata.org/node/14606

So today's interview produced only Greenspan's assertion that he isn't aware of what he testified about to Congress in 1998. That's something, since it's so pathetic. But what an opportunity was lost.

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

Join GATA here:

Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014

http://www.minesandmoney.com/london/

Vancouver Resource Investment Conference
Vancouver Convention Centre West
1055 Canada Place, Vancouver, British Columbia, Cananda
Sunday-Monday, January 18-19,2015

http://cambridgehouse.com/event/33/vancouver-resource-investment-confere...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16


| Digg This Article
 -- Published: Monday, 27 October 2014 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2018



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.