BIS refuses to answer questions about its activity in the gold market
BIS refuses to answer questions about its activity in the gold market by Chris Powell – GATA
Dear Friend of GATA and Gold:
The Bank for International Settlements today refused to answer questions from the Gold Anti-Trust Anti-Trust Action Committee about the bank’s activity in the gold market.
On Monday your secretary/treasurer wrote to the bank’s public information office calling attention to GATA consultant Robert Lambourne’s latest analysis of the bank’s October statement of account involving gold, which Lambourne construed to show a substantial increase in the bank’s use of gold swaps.
Your secretary/treasurer wrote:
“Dear BIS Press Office:
“On November 12 the Gold Anti-Trust Action Committee Inc. published an analysis by its consultant, Robert Lambourne, of the recent increase in gold swaps undertaken by the Bank for International Settlements:
“Could you please tell me whether this analysis is correct or, if it is in error in any way, how so?
“Could you also please tell me the BIS’ purpose and objectives with these gold swaps and with the bank’s involvement in the gold and gold derivatives markets generally?