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Henry C.K. Liu: The Fed and the strong-dollar policy
11:19p MT Tuesday, June 17, 2008
Dear Friend of GATA and Gold:
The economist Henry C.K. Liu has written for the Asia Times in Hong Kong a history of modern intervention in the currency markets by Western central banks and particularly by the U.S. Federal Reserve and the Treasury Department, intervention that occasionally has involved gold and whose mechanisms remain in place today. Liu's essay is expected to be the first of four on this topic, it is headlined "The Fed and the Strong-Dollar Policy," and it seems to confirm your secretary/treasurer's observation at GATA's Washington conference in April this year that there are no markets anymore, just central bank interventions (http://www.gata.org/node/6242). You can find Liu's essay at the Asia Times site here:
http://www.atimes.com/atimes/Global_Economy/JF18Dj02.html
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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