Dear Friend of GATA and Gold:
Since its founding in 1998, GATA has maintained that governments and central banks use gold for rigging the currency markets -- sometimes openly and sometimes surreptitiously, to deceive investors and other governments and central banks.
The Reserve Bank of Australia used to acknowledge candidly in its annual reports that currency market rigging is the very purpose of gold reserves.
"Foreign currency reserve assets and gold," the Reserve Bank's 2003 report said, "are held primarily to support intervention in the foreign exchange market."
https://www.rba.gov.au/publications/annual-reports/rba/2003/pdf/2003-report.pdf
Today, as seen below, Bloomberg News acknowledges this purpose in regard to Turkey, on the basis of anonymous sources. Will Bloomberg or any mainstream news organization ever acknowledge this purpose in regard to the United States, its allies, and other major powers and begin posing critical questions about it? Or must currency market rigging questions be reserved for lesser countries, like India, whose use of U.S. dollar derivatives for surreptitious currency market intervention was considered reportable by Bloomberg the other day?
https://www.gata.org/node/24578
For that matter, will the gold and silver mining industry itself ever openly recognize that its products are primarily money that competes with government-issued money, and start acting accordingly?
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