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Published on Gold Anti-Trust Action Committee (http://gata.org)

But why should Mnuchin explain missing billions? Mainstream news organizations will never ask

By cpowell
Created 2020-11-20 16:16

Mnuchin Demands the Return of Emergency Funds from the Fed, without Explaining What He's Been Doing with a Missing $340 Billion

By Pam and Russ Martens
Wall Street on Parade
Friday, November 20, 2020

Yesterday U.S. Treasury Secretary Steve Mnuchin stunned markets by demanding in a letter to Federal Reserve Chairman Jerome Powell that the Fed return Treasury funds that are backstopping the bulk of its emergency lending programs and wind down these programs by year's end. Adding further shock, the Fed rebuked the idea with its own statement, saying this:

"The Federal Reserve would prefer that the full suite of emergency facilities established during the coronavirus pandemic continue to serve their important role as a backstop for our still-strained and vulnerable economy."

... Dispatch continues below ...


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Asante Gold Announces Kubi 3D Model
Extends Gold Mineralizing System

Company Announcement via Globe Newswire
Thursday, July 2, 2020

VANCOUVER, British Columbia, Canada -- Asante Gold Corp. (CSE:ASE / Frankfurt:1A9 / U.S.OTC: ASGOF) has received the results of 3D magnetic modeling completed over its Kubi mining lease in the Ashanti Gold Belt in Ghana.

The results show that the Kubi Main Zone gold resource is intimately associated with and interfingers the western sheared contact of a magnetic high feature that plunges to more than 2 kilometers in depth. Here is the 3D model video:

http://www.asantegold.com/assets/Video/SEMSpitMagSmthCore.mp4 [1]

In Ghana, Africa's largest gold producer, many big mines are located along northeast-trending regional shear systems that exceed 250 kilometers in length. Studies indicate that the hydrothermal gold mineralizing system that generated the Ashanti Gold Belt deposits was "gigantic and extended to at least 10 to 15 kilometers in depth" (Schmidt Mumm et al., 1996). The Ashanti shear zone hosts the largest single gold resource in Ghana, the 66-million-ounce Obuasi mine. This major shear zone cuts Kubi 15 kilometers southwest of Obuasi. ...

... For the remainder of the announcement:

https://www.globenewswire.com/news-release/2020/07/02/2056982/0/en/Asant... [2]



At issue in this newly-emerged war between Treasury and the Fed is $454 billion, $340 billion of which has yet to be accounted for. ...

Wall Street On Parade has been repeatedly asking for an explanation as to what has happened to the balance of $340 billion that Congress intended to be used to help American families and businesses during the worst economic downturn since the Great Depression. ...

Not only does the American public not know what happened to that $340 billion but as we pointed out previously, "despite regular promises from the Fed chairman that the Fed will be transparent about its lending programs, there are four programs for which the Fed has yet to provide transaction-level data -- meaning the names of the borrowers and how much they borrowed." ...

... For the remainder of the report:

https://wallstreetonparade.com/2020/11/mnuchin-demands-the-return-of-eme... [3]

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http://www.gata.org/files/GATA-4-wine-bottles.jpg [4]

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http://www.gata.org/files/FayJWineryVarietals.jpg [5]

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* * *

Support GATA by purchasing
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* * *

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GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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Source URL:
http://gata.org/node/20664