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Ronan Manly: Skepticism reigns about true state of China's gold reserves
2:39p ET Friday, October 12, 2018
Dear Friend of GATA and Gold:
Bullion Star gold researcher Ronan Manly today reviews China's practice of acquiring gold reserves surreptitiously and reporting them to the International Monetary Fund only at long intervals.
In July 2015, Manly notes, China pledged to start regular reporting of gold reserve changes, and did make monthly updates for 14 months, but these stopped in October 2016 and no changes have been reported since.
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This, Manly suggests, tends to confirm your secretary/treasurer's frequent observation that the location and disposition of national gold reserves are secrets more sensitive than the location and disposition of nuclear weapons. Why? Because nuclear weapons can only destroy the world, while gold reserves facilitate the control of currency values, and whoever controls the currency markets can control the whole world, which is far more profitable than destroying it.
At least that was the point of a conference in the office of U.S. Secretary of State Henry Kissinger in April 1974:
http://www.gata.org/node/13310
Manly's analysis is headlined "Skepticism Reigns about the True State of Chinese Central Bank Gold Reserves" and it's posted at Bullion Star here:
https://www.bullionstar.com/blogs/ronan-manly/skepticism-reigns-true-sta...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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