Hugo Salinas Price: Central bank international reserves fall 8% in 17 months
9:07p ET Tuesday, January 12, 2016
Dear Friend of GATA and Gold:
Hugo Salinas Price, president of the Mexican Civic Association for Silver, reports tonight that international reserves held by central banks have fallen by $1 trillion, more than 8 percent, in 17 months, "a clear indicator of a worldwide economic slump, which will become a severe depression."
Salinas Price asks: "What discount on the value of the bonds did the purchaser or purchasers of the bonds apply? If there was no discount, why so? One trillion dollars' worth of government bonds has disappeared from the books of the world's central banks, sold by them for cash. Who did the buying?"
Salinas Price's commentary is headlined "One Trillion Dollars' Worth of Bonds Magically Turns into Cash" and it's posted at the association's Internet site, Plata.com, here:
CHRIS POWELL, Secretary/Treasurer
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