“Holy Grail” Gold Evidence Panics Western Central Banks

"Today King World News wanted to discuss what has been termed as the ‘Holy Grail’ of evidence which implicates Western central banks in actively manipulating the gold market. This has Western central banks deeply troubled because the information was never supposed to become public. Chris Powell, who has been focused on uncovering this type of sensitive information for 15 years, told KWN, “This is as authoritative (an admission) as we are likely ever going to get that central banks are actively involved, in secret, in the gold market.” 

 

Here is what Powell had to say: “Eric, this is a report written to the executive board of the International Monetary Fund from March 1999 about the efforts of the IMF staff to improve accountability in world central bank accounting. The report explains how the IMF staff proposed to require central banks to distinguish their gold loans and gold swaps from their gold reserves so the world could see exactly how Western central bank gold reserves were disposed.

The report goes on to explain that when the central banks saw that accountability would be demanded of them for their gold loans and swaps, they panicked. The report says that the central banks surveyed by the IMF staff objected to this precise accounting of their gold reserves.

They said disclosure of gold loans and swaps would be what they called, “Highly market-sensitive” and disclosure would interfere with their secret interventions in the currency markets. This is an admission....

 

“It’s a survey of the Western central banks, of the concerns the central banks had about accountability with their gold reserves. It is an acknowledgement that the Western central banks are actively involved in the gold market every day with their gold loans and swaps.

The purpose of this gold trading is market manipulation. It’s an admission that gold loans and swaps must be concealed to facilitate the gold market rigging that is under way by the Western central banks.

 

Four former Chairmen of the Federal Reserve have admitted, in one form or another, that central banks rig the gold price. We have an admission from a former Dutch central banker that the gold market is rigged at the behest of the United States. So I’m not surprised these general points should come out.

But I’m thrilled they should come out so authoritatively from a major international central bank institution, the IMF, as the result of a survey of all of the major central banks. This is as authoritative (an admission) as we are likely ever going to get that central banks are actively involved, in secret, in the gold market, and conceal their gold data because disclosure, accountability, would bust up their whole market rigging schemes..."

 

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/12/12_Holy_Grail_Gold_Evidence_Panics_Western_Central_Banks.html