Dumping Gold
May 7th, 2008 by capitaladmin
The Fed has Sold Half of all US Gold to Suppress Gold Prices
This could be a good thing for new collector’s looking to score some gold for their collections… bad if you are planning to ‘retire’ on your “gold assets”.
Current gold buillion prices have drop by $6 today on normal trading levels… this may not be too far off. Makes you wonder just how much is coinage is tucked away in other closed vaults owned by the federal government.
“the gold price suppression scheme was the cornerstone of Secretary Treasury Robert Rubin’s ‘strong dollar’ policy”, and “Treasury Secretary Paulson, a key member of the President’s Working Group on Financial Markets (popularly known as the Plunge Protection Team)” who chillingly said, “The United States will do what it takes to calm markets”…
In fact, Bill Murphy of GATA says, “The Gold Cartel is running out of available central bank gold to meet surging demand for physical gold. It is the opinion of the GATA camp that the central banks only have half the gold they say they have in their vaults – not the commonly bandied about 30,000 tonne number, but less than 15,000 tonnes.”
[ via Asia Times ]
