BIS Spectre Bank monster gold swap

With BIS gold swap, central banks throw the kitchen sink at gold

Submitted by cpowell on Tue, 2010-07-06 23:40. Section: Daily Dispatches

7:30p ET Tuesday, July 6, 2010

Dear Friend of GATA and Gold:

Western central banks have begun throwing the kitchen sink at gold, as word broke today of a monster gold swap undertaken by the Bank for International Settlements, which, as GATA noted the other day, long has been a center of surreptitious gold market intervention (see http://www.gata.org/node/8773) and indeed was the lead defendant in GATA consultant Reg Howe's gold price manipulation lawsuit in U.S. District Court in Boston in 2000 (see http://www.goldensextant.com/). The BIS gold swap appears to involve 380 tonnes that likely were sold into the market immediately. A report about it can be found at Jesse's Cafe Americain here:

http://jessescrossroadscafe.blogspot.com/2010/07/imf-engaged-in-gold-swa...

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