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Gold price suppression documents cited in debate at New Orleans conference

By: Chris Powell

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

Dear Friend of GATA and Gold:

Documents that were included in a PowerPoint presentation by your secretary/treasurer during his debate with Doug Casey of Casey Research on Thursday, October 23, at the New Orleans Investment Conference -- a debate whose proposition was "Gold Manpulation: Real or Imagined?," with your secretary/treasurer arguing that it is real -- are cited below, though, because of lack of time, not all of them were reviewed during the debate.

The PowerPoint presentation, showing images of the documents, is posted at GATA's Internet site here:

http://www.gata.org/files/GATA-NOLA-PowellDebateDocs.pdf

Many more documents confirming gold price suppression by Western central banks can be found in GATA's "Documentation" archive here:

http://www.gata.org/taxonomy/term/21

Summaries of the Western central bank gold price suppression scheme -- its history, purposes, and methods -- can be found in the section titled "The Basics" at GATA's Internet site here:

http://www.gata.org/taxonomy/term/23

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

* * *

The fourth installment of the European Central Bank Gold Agreement, announced in May 2014, asserting that the central banks will continue to conspire to coordinate their interventions in the gold market:

http://www.ecb.europa.eu/press/pr/date/2014/html/pr140519.en.html

The 2013 annual report of the Bank for International Settlements, asserting that the bank trades gold and gold derivatives for its member central banks:

http://www.gata.org/files/BISAnnualReport-06-23-2013.pdf

The 2008 PowerPoint presentation by the Bank for International Settlements advertising secret gold market interventions as being among the bank's services to its members:

http://www.gata.org/files/BISAdvertisesGoldInterventions.pdf

The June 2005 speech by Bank for International Settlements official William R. White asserting that gold market intervention is a primary purpose of international central bank cooperation:

http://www.gata.org/files/BIS-WhiteSpeechCentralBankCooperation-June2005...

The minutes of the April 1997 meeting of the G-10 Gold and Foreign Exchange Committee, showing central bank and treasury officials conspiring to coordinate their gold market policies:

http://www.gata.org/files/FedMemoG-10Gold&FXCommittee-4-29-1997.pdf

Federal Reserve Chairman Alan Greenspan's testimony to Congress in July 1998, in which he asserted that central banks lease gold to suppress its price:

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

The secret March 1999 staff report of the International Monetary Fund noting that central banks oppose reporting their gold swaps and leases because doing so would impair their secret interventions in the gold and currency markets:

http://www.gata.org/files/IMFGoldDataMemo--3-10-1999.pdf

The speech by Banque de France official Alexandre Gautier to the London Bullion Market Association meeting in Rome in September 2013, asserting that the French central bank trades gold for its own account "nearly on a daily basis" and is "active in the gold market for central banks and official institutions":

http://www.gata.org/files/BanqueDeFrance.pdf

Federal Reserve Governor Kevin M. Warsh's acknowledgment in September 2009 that the Fed has secret gold swap arrangements with foreign banks:

http://www.gata.org/files/GATAFedResponse-09-17-2009.pdf

The U.S. Treasury Department's explanation of its Exchange Stabilization Fund as having the power to intervene secretly not only in the gold market but any market:

http://www.treasury.gov/resource-center/international/ESF/Pages/esf-inde...

A statement by the Bank of England in 2011 that the gold swap and lease transactions undertaken by the bank are "market-sensitive" and the public must not be allowed to know about them:

http://www.gata.org/files/BankOfEngland-GoldSwaps&Leases-10-24-2011.pdf

A January 2014 letter from the CME Group, operator of the major U.S. futures market exchanges, informing the U.S. Commodity Futures Trading Commission that central banks are receiving discounts for trading futures in all major U.S. markets:

http://www.gata.org/files/CMEGlobexCentralBankIncentiveProgram.pdf

The CME Group's 10-k filing with the U.S. Securities and Exchange Commission for 2014 disclosing that its clients include central banks and governments:

http://www.gata.org/files/CMEGroup-10K-03-03-2014.pdf

The CME Group's August 2014 letter to the U.S. Commodity Futures Trading Commission acknowledging market-rigging practices on CME Group exchanges:

http://www.gata.org/files/CMEGroupManipulativePractices-08-28-2014.pdf

The study of the relationship of gold's price and interest rates written by Harvard economics professor Lawrence Summers and University of Michigan economics professor Robert Barsky and published by the National Bureau of Economic Research in August 1985, titled "Gibson's Paradox and the Gold Standard":

http://www.gata.org/files/GibsonsParadox-OriginalVersion.pdf

Cables from U.S. embassy in Beijing to the U.S. State Department in Washington signifying the Chinese government's awareness of gold price suppression by Western central banks:

http://www.gata.org/node/10380

http://www.gata.org/node/10416

The minutes of the April 1974 meeting at the U.S. State Department of Secretary of State Henry Kissinger and Assistant Secretary Thomas Enders, in which they discuss the objective of the U.S. government to control the gold price:

http://history.state.gov/historicaldocuments/frus1969-76v31/d63

Federal Reserve Chairman Arthur Burns' letter to President Ford in June 1975 explaining a secret agreement with the government of Germany to obstruct a free market in gold:

http://www.gata.org/files/ArthurBurnsLetterToPresidentFord-June1975.pdf

The March 1974 memo from the U.S. State Department's deputy assistant secretary for international finance and development, Sidney Weintraub, to Undersecretary of State for Monetary Affairs Paul Volcker, describing the U.S. government's objective of removing gold from the international monetary system:

http://history.state.gov/historicaldocuments/frus1969-76v31/d61

Federal Reserve Chairman William McChesney Martin's secret 1961 plan for rigging all markets to support the U.S. dollar:

http://fraser.stlouisfed.org/docs/historical/martin/23_06_19610405.pdf

Federal Reserve Board of Governors member Kevin M. Warsh's commentary in The Wall Street Journal in December 2011 acknowledging that "financial repression" has been undertaken by government policy makers to "obscure market prices and prevent informed judgments":

http://www.gata.org/node/10839

The transmission in May 2011 by the Board of Governors of the Federal Reserve System to GATA of a penalty in court costs for the Fed's illegally withholding gold-related records:

http://www.gata.org/files/FedLetterLegalCosts.jpg

http://www.gata.org/files/FedCheckLegalCosts.jpg

* * *

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


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

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