Tag Archives: Central Banks

ECB Member Banks Confirm That Gold Is Manipulated by Central Banks

19 May 2014 – ECB and other central banks announce the fourth Central Bank Gold Agreement

The European Central Bank, theNationale Bank vanBelgië/BanqueNationale de Belgique, the DeutscheBundesbank,EestiPank, the Central Bank of Ireland, the Bank of Greece, the Banco deEspaña, the Banque de France, the Banca d’Italia, the Central Bank of Cyprus,Latvijas Banka, the Banque centrale du Luxembourg, the Central Bank of Malta, DeNederlandsche Bank, theOesterreichischeNationalbank, the Banco de Portugal, BankaSlovenije,NárodnábankaSlovenska,SuomenPankki – Finlands Bank,SverigesRiksbank and the Swiss National Bank today announce the fourth Central Bank Gold Agreement (CBGA).In the interest of clarifying their intentions with respect to their gold holdings, the signatories of the fourthCBGA issue the following statement:

  • 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
3)  retarded

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…