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:
Chris Powell is a journalist in Connecticut, where he was managing editor of the Journal Inquirer, a daily newspaper in Manchester, for 44 years. He continues to write political columns for that paper and five others in the state and often appears on talk radio programs there. He is also secretary/treasurer of the Gold Anti-Trust Action Committee Inc. (GATA), which he co-founded in 1999 to expose and oppose the rigging of the gold market by Western central banks and their investment bank agents. He edits the GATA Dispatch, that organization’s daily electronic newsletter. He is a member of the Board of Directors of the Connecticut Council on Freedom of Information and was its state legislative chairman from 2004-2010.
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