Alleged objective to ‘conceal the mismanagement of the U.S. dollar’
http://www.wvwnews.net/story.php?id=3002
http://www.wvwnews.net/story.php?id=2823
By Jerome R. Corsi
The Wall Street Journal has agreed to publish a full-page ad in which the Gold Anti-Trust Action Committee charges the U.S. government surreptitiously utilizes http://www.wvwnews.net/story.php?id=2400 to engage in international swaps and other market manipulations.
“Anybody Seen Our Gold?” is the title of the ad, which alleges U.S. gold reserves held at depositories such as Fort Knox and West Point may have been seriously depleted. GATA asserts U.S. gold reserves are being shipped overseas to settle complex transactions utilized by the Federal Reserve and the U.S. Treasury to suppress the price of the precious metal.
“The objective of this manipulation is to conceal the mismanagement of the U.S. dollar so that it might retain its function as the world’s reserve currency,” the ad copy reads in a pre-publication version GATA provided to WND.
The U.S. Treasury denies the claim, insisting the stock is accounted for regularly. GATA’s chairman, William J. Murphy III, told WND his group was willing to pay the Wall Street Journal’s cost of $264,000 to run the ad “to get the message out that the U.S. enters world markets without public disclosure to prop up the dollar and depress the price of gold.”
GATA cites as evidence the Federal Reserve Open Market Committee reports dating back to Jan. 31, 1995, showing the U.S. Treasury Department’s Exchange Stabilization Fund had undertaken gold swaps.
GATA, a non-profit 501 headquartered in Manchester, Conn., further asserts the federal government strategy to manipulate the price of gold has begun to fail.
“Gold’s recent rise toward $900 per ounce shows that the price suppression scheme is faltering,” the GATA ad reads. “When it is widely understood how central banks have been suppressing gold, its price may rise to $3,000 or $5,000 an ounce or more.”
http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=59876