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IMF said ready to propose proper accounting for central bank gold

Section: Daily Dispatches

5:30p ET Thursday, December 7, 2006

Dear Friend of GATA and Gold:

Neal Ryan, research director for New Orleans coin and bullion dealer Blanchard & Co., plaintiff in the heroic and rather successful gold price-rigging lawsuit against Barrick Gold, reports in an interview today with that the International Monetary Fund is about to propose proper and transparent accounting practices for leased and swapped central bank gold.

Ryan tells's Simon Constable that he has written a study about the misleading accounting of central bank gold reserves, that he has made recommendations to the IMF, that the IMF has replied favorably, and that he expects an announcement from the IMF this month.

Of course the misleading accounting of central bank gold long has been a big issue for GATA, thanks largely to the investigation done by GATA consultants James Turk, editor of the Freemarket Gold & Money Report and founder of GoldMoney, and Andrew Hepburn of Sprott Asset Management in Toronto.

You can view's interview with Ryan here:

But it seems that the link is likely to become outdated soon, so hurry.

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

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