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Official Gold Data Is No Good, says GATA Secretary (video)

In a discussion last week with Kai Hoffman of Soar Financially, your secretary-treasurer dismissed reports that the People's Bank of China had "stopped" buying gold insofar as it reported not buying any in May for the first time in many months.

Official gold reserve information is unreliable, your secretary-treasurer said, providing several major examples of how it has been falsified over the years.

The true location, size, and disposition of official gold reserves, your secretary-treasurer said, are actually the most sensitive state secrets, and GATA consultant Robert Lambourne's monthly exposure of the gold swap position of the Bank for International Settlements shows that at least one central bank is still striving to keep the gold price down.

The discussion is 35 minutes long and can be viewed at YouTube here:

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