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IPFS News Link • Precious Metals

Manipulation of Gold: BIS and the Gold Swaps - Curiouser and Curiouser

07-08-2010 • JessesCrossRoadsCafe.blogspot.com/

"The enormous amount of gold involved, nearly tripling what the BIS itself owns, left many market participants wondering about the nature of the deals. The BIS declined to identify the commercial banks involved. ... It isn't clear what prompted the banks to borrow from the BIS instead of their central banks." Further, without citing authority the paper says "the gold hasn't entered the open market," but "if the banks that loaned the gold are for some reason unable to make good on the loan, the BIS could opt to sell the gold in order to get its money back, which could amount to flooding the market with an unexpected boost to the global supply."

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Reported By Jack Gregson

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