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Austria celebrates gold repatriation but really isn't coming clean

Section: Daily Dispatches

8:15p Saturday, December 12, 2015

Dear Friend of GATA and Gold:

Reporting today that Austria's central bank has produced an explanatory video celebrating its repatriation last week of 15 more tonnes of gold from the Bank of England --

-- Zero Hedge contrasts this openness with the secrecy the United States continues to weave around its gold reserves:

But don't cheer the Oesterreichische Nationalbank too much. For at the London Bullion Market Association conference in Vienna in October, the bank's executive director, Peter Mooslechner, volunteered to a uncurious reporter that the bank is aware of surreptitious interventions in the gold market by other central banks and then shut himself up in his office, or was shut up there by his superiors, when another financial journalist sought elaboration:

Zero Hedge writes that in repatriating more of its gold Austria "was implicitly confirming that trust is now very publicly fraying at the highest levels of the international monetary system." But that's not how Austria's central bank puts it.

No, like other central banks, Austria's believes that matters determining the valuation of all capital, labor, goods, services, and currencies in the world are really none of the world's business.

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


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