19 May 2014 – ECB and other central banks announce the fourth Central Bank Gold Agreement
- Gold remains an important element of global monetary reserves;
- The signatories will continue to coordinate their gold transactions so as to avoid market disturbances;
- The signatories note that, currently, they do not have any plans to sell significant amounts of gold;
- This agreement, which applies as of 27 September 2014, following the expiry of the current agreement, will be reviewed after five years.
Here is the press release directly from the ECB website: ECB’s Fourth Central Banks Gold Agreement
Any questions there? Anyone see a conspiracy theory? Anyone who now states that the western Central Banks do not manipulate the gold market is one of three things:
1) a psychopathic liar
2) tragically stupid
What’s more interesting that the acknowledgement of market-rigging – because we already new that ad nauseum, is outright statement that refers to gold as a “monetary reserve.” Means that the ECB and its member banks regard gold as much more than just the “asset” which is held “out of tradition,” which Bernanke stated under oath in front of Congress.
Circling back to my 3 points of conclusion just above, you can decide which one applies to Bernanke…