Pierre Lassonde must not know the right central bankers


8:21a ChST Thursday, October 10, 2013

Dear Friend of GATA and Gold:

Gold mining entrepreneur Pierre Lassonde, a former chairman of the World Gold Council, this week told MineWeb's Geoff Candy that central bankers hardly ever think about gold, much less think about the manipulation of its price.

"When I was chairman of the World Gold Council," Lassonde says, "one of my goals was to get closer to the central bankers and I tried to understand what goes on in their heads and try to help them with the management of their gold reserves, or their lack of reserves. ... I made many trips to China, to Beijing, to talk to the chief central banker there. ... Ninety-nine point nine percent of the central bankers I know don't even know they have gold in their vault. They don't spend one millisecond thinking about gold during the day. It's not on their agenda, so to think that they try to manipulate gold to suppress the gold price -- forget it. They don't even think about it."

MineWeb's interview with Lassonde is here:


Of course maybe the central bankers known to Lassonde are not the ones known to staff members of the International Monetary Fund, who surveyed central bankers in 1999 and, in a secret report to the IMF board, reported that the central bankers were desperate to conceal their gold swaps and leases lest transparency about their gold reserves impair their surreptitious interventions in the gold and currency markets:


Meanwhile this week fund manager and geopolitical strategist James G. Rickards, author of the recent book "Currency Wars," who has held U.S. government security clearance, told the Canadian Broadcasting Corp.'s "The Lang and O'Leary Exchange" program that central bankers do think very much about gold. Rickards said "fine art" is a good investment these days because it "behaves the way gold would behave if central banks didn't intervene, because central banks don't care about fine art." The interview with Rickards is six minutes long and is posted at the CBC Internet site here:


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


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