Silver as an investment

FLASH: Wall Street Journal acknowledges gold leasing and swaps question …

gata.org /  by cpowell on Fri, 2017-08-11 

… but never actually puts it comprehensively to any Federal Reserve or Treasury Department official.

* * *

In the report appended here the newspaper gets a Fed official to say that the Fed does not lease the gold of other nations. Well, of course not. But do those other nations lease or swap gold, or did they? And does the U.S. government lease or swap gold, or did it? If so, why?

The president of the Federal Reserve Bank of New York, William Dudley, was asked that question in public last year and ran away from it as fast as he could. It’s on video:

http://www.gata.org/node/16341

Over the last year and a half GATA gave The Wall Street Journal introductions to everyone quoted in the article below except for U.S. Sen. Rand Paul and his father, former U.S. Rep. Ron Paul. GATA also provided the newspaper with enormous documentation about surreptitious intervention in the gold market by central banks and governments. Yet somehow GATA itself isn’t mentioned here.

In any case maybe this is at least a start with mainstream financial news organizations, considering that all such major organizations have been given the same documentation by GATA over the years and ours remains a planet where gratitude will always remain rarer than gold. After all, as Gandhi is supposed to have said — or was it Alfred E. Neuman? — “First they ignore you, then they laugh at you, then they fight you, and then they go back to ignoring you, snickering that everybody really knew all along what you were trying to tell them.”

* * *

The Fed Has 6,200 Tons of Gold in a Manhattan Basement — Or Does It?

The Central Bank Provides Limited Inventory Information and Won’t Let Outsiders Count the Bars, Prompting Skeptics to Pounce

By Katy Burne
The Wall Street Journal
Thursday, August 10, 2017

https://www.wsj.com/articles/the-fed-has-6-200-tons-of-gold-in-a-manhatt…

Eighty feet below the streets of lower Manhattan, a Federal Reserve vault protected by armed guards contains about 6,200 tons of gold.

Or doesn’t.

The Fed tells visitors its basement vault holds the world’s biggest official gold stash and values it at $240 billion to $260 billion.

READ MORE

The post FLASH: Wall Street Journal acknowledges gold leasing and swaps question … appeared first on Silver For The People.