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U.S. Government Gold Manipulation Document Declassified

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  • Tue, Sep 29, 2009 - 07:46pm

    #1
    John99

    John99

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    U.S. Government Gold Manipulation Document Declassified

Possible repost?

U.S. Government Gold Manipulation Document Declassified

The information has come to light as a result of a declassified Memorandum sent by then-Federal Reserve Chairman Arthur Burns to President Gerald Ford. The document was originally classified as “Strictly Confidential”.

The document was originally posted at ZeroHedge and brought to my attention by Lori Smith. I have since verified the authenticity of the document in a conversation with the Gerald R. Ford Library archivist Mark Fischer. Although the document appears to have a declassification date stamped on it of 6-28-05, Fischer tells me that the document was declassified just recently on 9-15-09.

The document also sheds light on a disagreement between the Treasury and the Fed, whereby the Treasury was willing to accept freedom in the way governments conducted their gold transactions and the Federal Reserve was opposed. The documents shows that France was a leader in opposing a ceiling on government purchases of gold and that Burns went as far as contacting then-Secretary of State Henry Kissinger to see if some type of quid pro quo could be extracted from France if the U.S. took a less hostile position on gold accumulation….

http://www.economicpolicyjournal.com/2009/09/us-government-gold-manipulation.html

There is a pdf link a bottom of article for copy of declassified material.

 

Orginal article from Zerohedge: 

Exclusive Smoking Gun: The Fed On Gold Manipulation

http://www.zerohedge.com/article/smoking-gun-fed-controlling-gold

 

Have asked around on Zerohedge site credibility, and so far only positive things. if you have any comments let me know.

  • Tue, Sep 29, 2009 - 11:32pm

    #2
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: U.S. Government Gold Manipulation Document Declassified

Here’s Mish’s take on this, which I find hard to disagree with.  They sure as heck didn’t do a very good job of manipulating anything, especially during the decade this transpired in.

http://globaleconomicanalysis.blogspot.com/2009/09/gold-manipulation-smoking-gun.html

The document has no direct bearing on what is happening today, although it remains true that gold is the enemy of the welfare warfare state and its central banks.

The so-called “smoking gun” of 1975 is much to do about nothing. It is nothing more than a historical footnote with little current relevance.

Misplaced Fears

If governments today are still acting to suppress the price of gold by the same methods, let’s have more of them because they clearly aren’t working.

Given that the price of gold is roughly $1,000 an ounce, it goes to show that governments are not bigger than the market, and that such manipulation (even if it does still exist) can never work in the long run.

The fear should not be of government to government agreements that can never work in practice, but rather a fear that governments may tax gold sales profits at some phenomenal rate, thereby effectively confiscating gold a second time.

  • Wed, Sep 30, 2009 - 06:48am

    #3
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: U.S. Government Gold Manipulation Document Declassified

[quote=Farmer Brown]

Here’s Mish’s take on this, which I find hard to disagree with.  They sure as heck didn’t do a very good job of manipulating anything, especially during the decade this transpired in.

[/quote]

Thanks FB for the article – a good read.

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