Transparency for gold swaps and leases

Former Fed and Treasury official endorses transparency for gold swaps and leases

Submitted by cpowell on Mon, 2013-01-28 16:47. Section: Daily Dispatches

11:40a ET Monday, January 28, 2013

Dear Friend of GATA and Gold:

Interviewed today by the German financial journalist Lars Schall, former Federal Reserve and Treasury Department official Edwin M. Truman seems to back away from his assertion to a World Bank and Bank for International Settlements conference last month (http://www.gata.org/node/12084) that the Washington Agreement on Gold was "the modern counterpart" of the gold price-rigging London Gold Pool of the 1960s. But Truman extends his call for greater transparency in central banking to encompass the gold swaps and leases that, according to a March 1999 report of the International Monetary Fund (http://www.gata.org/node/12016), are kept secret to facilitate secret intervention in the gold market.

The interview with Truman is posted at Schall's Internet site here:

http://www.larsschall.com/2013/01/28/is-the-washington-agreement-on-gold...

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

---