Fed admits manipulating price of gold

AladainAF · 09-27-2009, 09:28 AM

Federal Reserve Admits Hiding Gold Swap Arrangements, GATA Says - Yahoo! Finance

Interesting. I wonder if this is why the govt overwhelmingly passed a bill for a full on audit of the Fed.

Quote:

MANCHESTER, Conn.--(BUSINESS WIRE)--The Federal Reserve System has disclosed to the Gold Anti-Trust Action Committee Inc. that it has gold swap arrangements with foreign banks that it does not want the public to know about.

The disclosure, GATA says, contradicts denials provided by the Fed to GATA in 2001 and suggests that the Fed is indeed very much involved in the surreptitious international central bank manipulation of the gold price particularly and the currency markets generally.

Dumar · 09-27-2009, 10:09 AM

obvious news is obvious.

Lyenae · 09-27-2009, 12:08 PM

Anyone and everyone, by buying or selling in the market, manipulates the price of anything and everything for sale.

What do you care anyway? Do you even own any bullion?

Elerion · 09-30-2009, 09:10 AM

Wikipedia says:

Quote:

The Gold Anti-Trust Action Committee, or GATA, is an organization dedicated to publicizing their belief that the quantity of physical gold ostensibly held by the world's central banks is significantly overstated,[1] and that the price of gold is manipulated by governments and large central banks.[2][3] Their beliefs have been called 'fringe' and 'conspiracy theories' by some analysts, and the conclusions 'far fetched'.[4][1][3] GATA was founded by Bill Murphy, former commodities trader and wide receiver for the Boston Patriots. Its board includes Catherine Austin Fitts, president of Solari Inc. and former assistant secretary of the U.S. Department of Housing and Urban Development.[5] According to the New York Times in 2006, GATA "for the most part is a one-man show", referring to Murphy.[1] According to the Wall Street Journal, GATA receives part of its funding from gold companies.[4]

Your link says:

Quote:

# Press Release
# Source: Gold Anti-Trust Action Committee Inc.

Excuse me if I don't take their angle as gospel.

Hatorade · 09-30-2009, 09:49 AM

Don't they do this with all precious metals and stones?

Picasso · 09-30-2009, 10:28 AM

THE MAN HAS SLIGHTED US FOR THE LAST TIME.

LO, TO ARMS!

Lyenae · 09-30-2009, 10:42 AM

If you think gold is being 'surpressed', then fuck, that means it's onl sale and you should grab the shopping cart and load the fuck up.

The only people complaining about this shit are suckers who bought gold on the promise that 2 days after they buy it, it's "going to the moon!"

Etoille · 09-30-2009, 02:29 PM

HOLY SHIT NO WAI.

You mean a federal agency denied a fringe groups FOIA request and now they're pissed off about it so they're making noise to get donations to bring a frivolous lawsuit?

Irony: FOIA laws were severely curtailed by the Patriot Act. If you want to blame anyone just give Cheney and Bush a call. Fed doesn't have shit to do with it.

FulorianC · 10-08-2009, 02:13 PM

Did you just call the Federal Reserve Bank a federal agency?

You poor, poor soul.

Tyen · 10-19-2009, 03:25 AM

Quote:

Originally Posted by FulorianC

Did you just call the Federal Reserve Bank a federal agency?

You poor, poor soul.

Etoille is a very distinguished woman with a history of intense legal schooling. To believe that she thinks the Federal Reserve is a federal agency is something I cannot subscribe to.

Etoille · 10-19-2009, 07:25 AM

Quote:

Originally Posted by FulorianC

Did you just call the Federal Reserve Bank a federal agency?

You poor, poor soul.

I thought you had me on ignore :P

Obviously its not a federal agency. Clearly I misspoke though I don't recall my frame of mind when I made this statement what weeks ago - I probably decided that "quasi federal institution" was not the way to go :P

09-30-2009, 09:49 AM	#5 (permalink)
Hatorade Cause it's better than water Join Date: Oct 2003 Location: Houston, TX Posts: 10,223 +78 Internets	Don't they do this with all precious metals and stones? __________________ Wii Friend Code 1729 2890 3780 7210 AION group

09-30-2009, 10:28 AM	#6 (permalink)
Picasso It's a party in the USA Join Date: Dec 2008 Posts: 1,046 -55 Internets	THE MAN HAS SLIGHTED US FOR THE LAST TIME. LO, TO ARMS! __________________ Hello, my name is Pablo Diego José Francisco de Paula Juan Nepomuceno María de los Remedios Cipriano de la Santísima Trinidad Martyr Patricio Clito Ruíz y Picasso.

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09-27-2009, 12:08 PM	#3 (permalink)
Lyenae Registered User Join Date: Sep 2002 Posts: 2,666 -104 Internets	Anyone and everyone, by buying or selling in the market, manipulates the price of anything and everything for sale. What do you care anyway? Do you even own any bullion?

09-30-2009, 10:42 AM	#7 (permalink)
Lyenae Registered User Join Date: Sep 2002 Posts: 2,666 -104 Internets	If you think gold is being 'surpressed', then fuck, that means it's onl sale and you should grab the shopping cart and load the fuck up. The only people complaining about this shit are suckers who bought gold on the promise that 2 days after they buy it, it's "going to the moon!"

10-08-2009, 02:13 PM	#9 (permalink)
FulorianC Real Life Apologist Join Date: May 2003 Location: Denton, Texas Posts: 2,037	Did you just call the Federal Reserve Bank a federal agency? You poor, poor soul.