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Former mint director says he saw Fort Knox gold -- but who owns it?

Section: Daily Dispatches

3:35p ET Thursday, December 12, 2013

Dear Friend of GATA and Gold:

There's really gold in Fort Knox even if most of it seems to be in the form of bars made from relatively impure coin melt, former U.S. Mint Director Edmund C. Moy told the Whitman coin exhibition in Baltimore on November 9, reporting that he had been admitted to Fort Knox during his tenure as mint director, which ran from 2006 to 2011.

Moy's comments about inspecting gold at Fort Knox were videotaped and posted last month at Coin Week's Internet site here:

Moy added that he couldn't say just how much gold was kept at the depository, nor, infinitely more important to GATA, did he address whether any of that gold has been swapped, leased, or otherwise encumbered -- a question validated by the Federal Reserve's admission to GATA in September 2009 that it has secret gold swap arrangements with foreign banks:

According to a secret March 1999 memorandum by the staff of the International Monetary Fund, Western central banks conceal their gold swaps and leases to facilitate their secret intervention in the gold and currency markets:

So how many people have reason to think they own the gold held at Fort Knox? Exactly what are the Fed's gold swap arrangements and their purposes? The questions remain compelling and unanswered.

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


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