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Strategies & Market Trends : Ride the Tiger with CD

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To: Tommaso who wrote (141468)	1/7/2009 12:38:51 PM
From: Canuck Dave	Read Replies (1) of 313046

Is all the gold in Fort Knox? We don't know directly because they won't install a webcam, but GATA has done some nice work on some indirect evidence. Indications are that in 1995, slick Willie Clinton and Rubin entered into a gold swap and lease program with the Germans to yield a strong dollar policy and get reelected in 1996. Germans sold gold into the market for dollars, US leased gold to Germans through bulion banks (read J. P. Morgan) to refill their coffers and both parties still showed all the gold on the books. Gold in Fort Knox was subtly relabelled as "deep storage" (i.e. in the ground, to be mined later?). A famous empirical relationship also broke down in 1995, that of real interest rates (rate minus inflation) to gold price movement. Interest rates were low, yet gold was sinking in price. Why? But this is all speculation. Maybe Obama will conduct a public audit. Maybe he won't. CD

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