Secret IMF Report: Hide Gold Loans and Swaps for Market Manipulation!

• Secret IMF report: Hide gold loans and swaps for market manipulation! 
  by cpowell, http://www.gata.org/ 
  Dear Friend of GATA and Gold:
  Western central banks conceal their gold loans and swaps because information about them is “highly market-sensitive” and accountability about them would hinder secret currency market interventions by central banks, according to a confidential report by the International Monetary Fund obtained this week by GATA.
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  The report, provided to GATA by its researcher R.M., was written in March 1999 as the IMF staff proposed to strengthen financial reporting standards for central banks. The report shows that the objections by gold-lending central banks were decisive in weakening the standards. While the first draft of the new reporting rules would have required disclosing central bank gold loans and swaps, the revised rules, later adopted, allowed central banks to hide their gold loans and swaps within their gold reserves and even not to disclose the amount of their monetary gold at all, just the value assigned to it.
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  That is, the explicit but secret policy of Western central banking toward gold is to deceive and manipulate markets, as GATA long has complained.
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  The confidential IMF report says that to strengthen its financial reporting standards for central banks — its Special Data Dissemination Standard reserves template — IMF staff members consulted top officials of the organization as well as the Bank for International Settlements, the European Central Bank, the Bank of England, the German Bundesbank, the Bank of France, and other European central banks.
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  read more!

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