Major German business magazine publicizes gold price suppression scheme

Section:

10:07p ET Monday, July 26, 2010

Dear Friend of GATA and Gold:

The July 21 edition of a major German business magazine, Focus Money, carries a huge and profusely illustrated article written by its editor, Johannes Heinritzi, about gold market manipulation by central banks and governments:

http://www.focus.de/finanzen/boerse/aktien/rohstoffe/tid-19212/gold-mani...

The article begins with reference to the mysterious and surrpetitious gold swaps recently undertaken by the Bank for International Settlements. It cites speculation that central banks do not really have the gold they claim to have. It notes that there has been no audit of the U.S. gold reserve for half a century. It repeats former Federal Reserve Chairman Alan Greenspan's famous testimony to Congress that "central banks stand ready to lease gold in increasing quantities should be price rise." It reports that Asian central banks have become gold buyers. And it quotes gold analyst Ronald Stoferle of First Group Bank in Vienna as saying that the motives of central banks and governments to suppress the gold price "are clear and plausible" and that it would be "naive" to think that they're not doing it.

Imagines of the magazine's cover and the pages with the gold price manipulation article can be found here:

http://bullioncafe.blogspot.com/

A hamhanded and occasionally comic but still generally helpful computer translation of the article from German to English can be found here:

http://tinyurl.com/29wbow4

This cat is out of the bag and prowling Europe.

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



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