ECB Open Market Manpulation

ECB sold gold and bought dollars -- but it's not intervention

Submitted by cpowell on Tue, 2009-04-21 22:42. Section: Daily Dispatches

6:32p ET Tuesday, April 21, 2009

Dear Friend of GATA and Gold:

Not much is more disingenuous than central banking, as the Reuters story appended here suggests. The story reports how the European Central Bank sold gold in 2008 and purchased U.S. dollars with the proceeds, even as the story also reports that the bank "confirmed that it had not intervened in currency markets in 2008." (more)