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gata sues us fed. reserve

  1. 3,413 Posts.
    Just out on the NOLT (NAB) site;

    'Sydney - Thursday - December 31: (RWE) - The Gold Anti-Trust Action Committee Inc. (GATA) today brought suit against the US Federal Reserve Board, seeking a court order for disclosure of the central bank's records of its surreptitious market intervention to suppress the monetary
    metal's price.
    The suit was filed in US District Court for the District of
    Columbia and targets Fed records involving gold swaps, exchanges of gold with foreign financial institutions.
    In a letter dated September 17 this year to GATA's law firm, William J. Olson P.C. of Vienna, Virginia, Fed Board of Governors member Kevin M. Warsh acknowledged that the Fed has gold swap agreements with foreign banks but insisted that such documents remain secret.
    The lawsuit follows two years of GATA's efforts to obtain from the Federal Reserve and the US Treasury Department a candid accounting of
    the US government's involvement in the gold market.

    GATA Secretary/Treasurer Chris Powell said: "While GATA has
    produced many US government records showing both open and surreptitious intervention in the gold market in recent decades, Fed Governor Warsh's letter is confirmation that the government is surreptitiously operating in the gold market in the present as well."

    "So GATA urges its friends to publicise the suit and to urge journalists, market analysts, mining companies, and members of Congress to join us in seeking disclosure of the Fed's gold market intervention records."

    "Unfortunately the World Gold Council, which each year collects tens of millions of dollars in membership fees from mining companies in the name of representing them and gold investors, refuses to question governments about their surreptitious interventions in the gold market."

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