Ex-Fed Governor Admitted Secret Gold Swaps & Market Rigging Is Candidate For Bank Of England

He acknowledged that the Fed has secret gold swap arrangements with foreign banks…

by Chris Powell of the Gold Anti-Trust Action Committee (GATA)

Former Federal Reserve Board of Governors member Kevin Warsh acknowledged to GATA in 2009 that the Fed has secret gold swap arrangements with foreign banks —


— and in an essay in The Wall Street Journal in 2016 admitted that the central bank manipulates markets:


* * *

New Bank of England Governor to Be Picked from Short Llist in Days

Ministers are set to choose the next governor of the Bank of England in the coming days, in a move that should enable incumbent Mark Carney to leave the central bank on his scheduled departure date of January 31.

The frontrunners to succeed Mr Carney are Minouche Shafik, London School of Economics director; Andrew Bailey, Financial Conduct Authority chief executive; and Kevin Warsh, a former top official at the U.S. Federal Reserve.The Treasury stressed today that no final decision had yet been taken regarding Mr. Carney’s successor and there was no certainty of an announcement before Christmas. …

One latecomer to the race to succeed Mr Carney is the American Mr. Warsh, who wrote a well-received report on accountability and transparency at the BoE in 2014.

He was also on the short list to become Fed chairman in 2018 when Jay Powell secured the role.

But while at the Fed, Mr. Warsh had many critics of his monetary policy and regulatory stances, which included warning against quantitative easing in 2009 and the dangers of inflation in 2010.

… For the remainder of the report:


* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:


To contribute to GATA, please visit: