Why central banks cannot tell the truth

Rob Kirby: Smoke, mirrors, SDRs, and gold -- why central banks cannot tell the truth

Submitted by cpowell on Wed, 2010-03-17 02:42. Section: Daily Dispatches

10:45p ET Tuesday, March 16, 2010

Dear Friend of GATA and Gold:

GATA consultant Rob Kirby of Kirby Analytics in Toronto this week did a fair amount of forensic accounting and determined that the Western central bank currency swaps that with great fanfare supposedly were reversed recently were actually just made permanent with the simultaneous creation of $250 billion in Special Drawing Rights, which were promptly monetized. Kirby's commentary is headlined "Smoke, Mirrors, SDRs, and Gold: Why Central Banks Cannot Tell the Truth" and you can find it at GoldSeek here:

http://news.goldseek.com/GoldSeek/1268755740.php

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.