Gold Article from Yahoo Finance...

RichR

If accurate, very interesting reading for anyone who owns gold...in coin form or not:

http://finance.yahoo.com/news/Federal-Reserve-Admits-Hiding-bw-2550373789.html?x=0&.v=patrick.net

BECOKA

Linkified: Link

Interesting article, I wonder if anything does come out of this how it wil effect the future of the gold market.

ziggy29

Bringing transparency to the Fed is going to be like turning on the light and watching all the cockroaches scatter.

roadrunner

Greenspan already testified to Congress in 1998 that the FED stood ready to lease/sell gold as required to bring down the price of gold. So swaps would be nothing unexpected.

Fwiw I read the actual letter dated 9/17/09 from the FED to GATA linked in that article. I don't think they actually admit to swapping gold in that letter. My reading of it indicates that the FED won't give out detailed information on swaps it conducts....whether gold or anything else. They said the won't give out swap information....not "gold swap" information.

roadrunner

doh

It's not even worth saying it so nevermind.

Halfsense

Just to make sure no one is misled, that is not a news article authored by Yahoo Finance. It's a paid press release written by GATA and distributed via BusinessWire, a pay-for-play press release distribution service widely used by companies to make announcements and disclosures to the financial world. I believe Yahoo Finance "automatically" picks up virtually everything from BusinessWire.

-donn-