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Former BIS official who admitted gold price suppression comes out for free markets
4:30p PHT Friday, March 27, 2015
Dear Friend of GATA and Gold:
Hinde Capital in London, in cooperation with the free-market advocates of the Cobden Centre, this week published the first part of an interview with former Bank for International Settlements official William R. White, who in a speech in June 2005 to a BIS conference confessed on behalf of the bank to the international central bank gold price suppression scheme:
White is now chairman of the Economic and Development Review Committee of the Organization for Economic Cooperation and Development, and in the Cobden Centre interview he expresses skepticism about "quantitative easing," contends that the biggest problem of the world financial system is excessive debt, argues that much of this debt will have to default and be written off, and laments that free markets are being impaired by central bank interest rate-suppression policies that are propping up uneconomic businesses.
Of course gold price suppression is a prerequisite of interest rate suppression and is just as antithetical to free markets, so it would have been nice if White was questioned about that, especially since his former employer, the BIS, remains the broker for surreptitious central bank interventions in the gold market:
http://www.gata.org/node/12717
http://www.gata.org/node/11012
Well, maybe it will happen in Part 2 of the interview.
Part 1 is accessible at the bottom of this page at the Hinde Capital Internet site:
http://hindesightletters.us9.list-manage.com/track/click?u=d2c52d5aa8b48...
You'll have to register your e-mail address for a free subscription to the HindeSight letter but they often have good stuff and you can always opt out later.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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