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Message: Re: Who Has The Gold ?
1
Aug 25, 2009 04:18PM

Mississing from the list is Canada -- No gold at all or we keep ours in deep storage meaning in the ground.

There is also some discrepancy as to weather the US gold is unemcumbered.

http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=7425

Last week, the Gold Anti Trust Action Committee (GATA) filed an appeal to the Federal Reserve's response to its Freedom of Information Act (FOIA) request seeking information on the Fed's involvement with gold swaps.

The appeal goes after the Fed for several different reasons. First, the Fed identified 137 pages of documents for which it claimed an exemption from disclosure. However, the Fed did not identify the reason for the exemption for each specific document as had been specifically requested in the FOIA request.

Second, the Fed turned over 173 pages of documents, which were represented as being released in their totality. However, there are several sections of apparent gaps where data has been omitted (redacted). Since the Federal Reserve stated that the documents were released in full, GATA has requested that the full documents now be released.

Third, this was GATA's second FOIA request to the Federal Reserve on the issue of gold swaps. The 173 pages of documents received for the 2009 FOIA request all pre-dated the 2007 FOIA request, which means they should have been released in the response to the earlier FOIA request. This establishes a likelihood that the Federal Reserve has failed to adequately search or disclose relevant documents. Further, the Fed response admitted that it had copies of relevant records that originally appeared on the Treasury Department Web site, but failed to include them in its response.

Fourth, a simple GATA search of the Federal Reserve website turned up a document on gold swaps that was not included among either the disclosed documents or a document that was listed as exempt from disclosure.

Fifth, one of the reasons generally cited for not disclosing information was that it would reveal trade secrets or commercial or financial information. GATA pointed out that the relationship between the Federal Reserve and the US government gold supply is a matter of public trust, and is not a private commercial or financial relationship. Moreover, whatever relationship exists between the Fed and the US government gold holdings does not involve "trade secrets."

Whatever happens with the appeal, the Federal Reserve looks to be either illegally hiding something or incompetent (or both).


Aug 25, 2009 05:41PM

Aug 25, 2009 07:57PM

Aug 26, 2009 04:58AM

Aug 26, 2009 04:59AM

Aug 26, 2009 05:01AM
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