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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Ken Benes who wrote (47254)	1/19/2000 7:57:00 AM
From: Alex	Respond to of 116815

Gold and Greenspan Senator asks Fed, Treasury chiefs to clarify metals policies -------------------------------------------------------------------------------- By Jon E. Dougherty ¸ 2000 WorldNetDaily.com Sen. Joseph Lieberman, D-Conn., has asked Treasury Secretary Lawrence Summers and Federal Reserve Chairman Alan Greenspan to answer a series of questions about national gold policy, in response to an inquiry from a precious metals research firm. The questions posed by the Gold Anti-Trust Action Committee initially were published as an "open letter" to both officials in the Dec. 9 issue of the Capitol Hill newspaper Roll Call. The public inquiry was titled, "What are you doing with America's gold?" and was addressed specifically to Greenspan and Summers. Since its initial publication, however, GATA Chairman Bill Murphy said neither official has responded. Sen. Joseph Lieberman Because both agencies have remained silent, Chris Powell, GATA secretary/treasurer and managing editor of the Manchester, Conn. newspaper, the Journal Inquirer, contacted Lieberman and asked him to intervene on the group's behalf. In his letter to the officials, Lieberman mentioned GATA's unsuccessful bid for answers and asked if both men would address them "at your first opportunity." So far neither official has responded to the senator's request, either. GATA, which has been monitoring U.S. and global gold policies and markets for months, believes some elements within U.S. government financial circles may be "intervening in the gold market" in an attempt to assist major bullion banks in keeping the price down because, they say, there are "millions" of ounces of gold loans on the books -- far more than exists as hard currency in the world. Murphy said such an action, if it is occurring, "is a clear and illegal violation of the bank's purpose clause." Murphy and GATA initially warned congressional leaders over a year ago that the organization believed there may be some concerted effort to artificially depress gold prices, but few listened, he said. However after a brief gold price surge in October, Murphy said he could sense that there was "near-panic in the gold loan industry," which strengthened his belief that gold prices were artificial. Today, though prices have stabilized again, Murphy said he still believes some of the world's most influential central and bullion bankers have attempted to manipulate the gold market to their advantage, and the advantage of key investors, by artificially depressing the price of gold while making short-term loans on millions of ounces of non-existent gold. -------------------------------------------------------------------------------- Jon E. Dougherty is a staff reporter for WorldNetDaily. worldnetdaily.com