January 27, 2009
PROOF OF US MONETARY AND GOLD PRICE MANIPULATION
This article was on www.lemetropolecafe.com from today. Maybe some of the dollar-bugs will see it, and start to change their minds about whether gold is rigged or not.
The Gold Anti-trust Action Committee (GATA) has long petitioned the federal government through FOIA (Freedom of Information Act) requests to reveal information about how it secretly manipulates currency and gold transactions to support the dollar. The government has consistently refused to respond.
Meanwhile, writer and researcher Elaine Supkis found an important document buried in the Federal Reserve's archives, marked Confidential. It comes from the papers of William McChesney Martin Jr., and is held by the Missouri Historical Society. It is written by a high level administrator out of the Federal Reserve Bank of NY [in the early 1960s] and describes in considerable detail the techniques the government is about to embark upon to manipulate foreign exchange markets to halt the ongoing outflow of gold.
The US dollar was still redeemable in gold at that time and foreign nations drained US gold rather than hold onto the ever-increasing flood of paper dollars coming out of the US Treasury. This is the smoking gun the Gold Anti Trust Action Committee researchers have long sought after, and now it is open for the world to read.
Even more interesting is the version by James Turk [at his site, www.goldmoney.com ], where he inserts his very astute analysis of the document to help readers understand the technical aspects that may not be clear to ordinary people. This is an historic find. Here is the link: http://www.gata.org/node/7095
Filed under Commodities, GATA, Gold and Monetary Metals, Money, Silver, The Fed, Wall Street by Financial Foghorn
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