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Rob Kirby: Fed's swaps prevented dollar's crash

Section: Daily Dispatches

6p ET Monday, July 27, 2009

Dear Friend of GATA and Gold:

In commentary posted today at GoldSeek, GATA consultant Rob Kirby of Kirby Analytics in Toronto shows how the dollar swaps recently arranged by the Federal Reserve were probably meant less to prevent the world financial system from seizing up than to prevent the dollar's crash. Kirby's essay is headlined "Upside Down and Backwards: Is Central Banking on Death's Doorstep?" and you can find it at GoldSeek here:

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

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