FED inadvertantly comfirms Gold SWAPS, in response to GATA FOIA request

[jtabeb]

From GATA (Gold Anti-Trust Action Committee:

[The Federal Reserve System has disclosed to GATA that it has gold swap arrangements with foreign banks that it does not want the public to know about.

The disclosure contradicts denials provided by the Fed to GATA in 2001 and suggests that the Fed is indeed very much involved in the surreptitious international central bank manipulation of the gold price particularly and the currency markets generally.

Warsh wrote in part: "In connection with your appeal, I have confirmed that the information withheld under Exemption 4 consists of confidential commercial or financial information relating to the operations of the Federal Reserve Banks that was obtained within the meaning of Exemption 4. This includes information relating to swap arrangements with foreign banks on behalf of the Federal Reserve System and is not the type of information that is customarily disclosed to the public. This information was properly withheld from you."]

[Zorro]

Re: FED inadvertantly comfirms Gold SWAPS, in response to GATA FOIA request

From GATA (Gold Anti-Trust Action Committee:

[The Federal Reserve System has disclosed to GATA that it has gold swap arrangements with foreign banks that it does not want the public to know about.

The disclosure contradicts denials provided by the Fed to GATA in 2001 and suggests that the Fed is indeed very much involved in the surreptitious international central bank manipulation of the gold price particularly and the currency markets generally.

Warsh wrote in part: "In connection with your appeal, I have confirmed that the information withheld under Exemption 4 consists of confidential commercial or financial information relating to the operations of the Federal Reserve Banks that was obtained within the meaning of Exemption 4. This includes information relating to swap arrangements with foreign banks on behalf of the Federal Reserve System and is not the type of information that is customarily disclosed to the public. This information was properly withheld from you."]

This is so typical of GATA and it further represents how their message of gold price manipulation is pure conjecture. A compilation of other statements (made by several Govenment officials) that supposedly admit to gold price manipulation is listed at their website as well. All of these slapdash misrepresentations are easily seen to have been taken out of context from the overall discussion.
In the above statement, the Fed did not admit to anything. In fact they did not even mention gold, they simply stated "information relating to swap arrangements" ....is not...disclosed.
A child should plainly read that information relating to swap arrangements (including whether or not they even participate in these operations) ....is not disclosed.
It is a fanatical leap of faith that GATA conclude the Feds conspire to manipulate gold pricing based on such puerile interpretations of other peoples statements.

Z