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Matt's Market Insights

 

For those who may be interested, the website www.gata.org is home to the Gold Anti-Trust Action Committee. The committee was organized in 1998 to "expose, oppose, and litigate against collusion to control the price and supply of gold and related financial instruments."

 

Leveraging the Freedom of Information Act, GATA sought access to the Federal Reserve's gold-related records and, according to them, elicited an admission from the Fed that it maintains gold swap arrangements with foreign banks which it insists on keeping secret. In an attempt to obtain the records in question, GATA sued the Fed in 2009. In February of 2011, the court ruled that the majority of the Fed's records could remain secret with the exception of the minutes of the April 1997 meeting of the G-10 committee on Gold and Foreign Exchange. The minutes, according to GATA, showed "G-10 member treasury and central bank officials secretly discussing the coordination of ... Log in or subscribe to continue reading.


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