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Ronan Manly: Central banks' secrecy and silence on gold storage arrangements
9:13p ET Tuesday, September 29, 2015
Dear Friend of GATA and Gold:
Gold researcher and GATA consultant Ronan Manly today identifies eight central banks that refuse to disclose where they are storing their countries' gold reserves, including one -- Finland -- that refused to disclose the information but changed its mind nine months later. Also among the unaccountable central banks is the Bank for International Settlements, whose 2007 presentation to the Peruvian central bank boasted of the BIS's "transparency" and "accountability."
This secrecy almost surely involves the desire of central banks to intervene surreptitiously in the gold and currency markets or to assist such intervention surreptitiously.
Manly's efforts show what financial journalism can achieve when it dares to confront primary sources, the most august of which are central banks. If only mainstream financial news organizations dared to attempt ordinary journalism like this.
Manly's report is headlined "Central Banks' Secrecy and Silence on Gold Storage Arrangements" and it's posted at Bullion Star here:
CHRIS POWELL, Secretary/Treasurer
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