Locked Out: You’re Not Invited As The World Gold Council Teaches Central Banks About Gold

Here is some tough love for people who think that central banks don’t care about gold. Not only do they care about gold, they learn about gold n secrecy…

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

Dear Friend of GATA and Gold:

While bigwigs from Franco-Nevada’s Pierre Lassonde to crypto-anarchist Doug Casey insist that central banks don’t care about gold, the World Gold Council still is planning to invite central bankers and finance ministry and sovereign wealth fund officials to another “executive program in gold reserve management” The program will be held from November 26 to 28 in Singapore, and unless you’re connected to a government, you’re not invited.

According to the World Gold Council’s announcement —


— the program will cover:

— Fundamentals of gold demand and supply.

— The role of gold as a reserve asset.

— Case studies on gold reserve management in practice.

— And gold market operations and accounting for gold.

That last topic might be especially interesting, since governments and central banks are so secretive about their gold market operations and gold reserve accounting.

Omitting anything about mere vaulting of gold, the program’s agenda at least suggests that the involvement of governments and central banks in the gold market is far more comprehensive than they and the gold council would like the world to believe.

While he scoffs at the idea that central banks might be interested in gold, Lassonde is a former chairman of the World Gold Council, which seems to continue to insist that central banks are or should be interested.

“Our purpose,” the Worldl Gold Council says, “is to stimulate and sustain demand for gold, provide industry leadership, and be the global authority on the gold market.” There’s nothing there about letting ordinary gold investors in on central banking’s secrets.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[email protected]

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