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When gold shorts must be covered, central banks to the rescue
2:40p CT Friday, October 9, 2009
Dear Friend of GATA and Gold:
GATA consultant Rob Kirby of Kirby Analytics in Toronto today tells a story that, while relying on anonymous sources, is more than plausible. It's about central banks rescuing bullion banks caught short on a gold trade where delivery was unexpectedly demanded. GATA long has suspected that this is what many central bank gold sales and leases have been about over the last 15 years or so -- attempts at cash settlement of gold leases whose gold could not be recovered without exploding the market. Kirby's story is headlined, not a bit too subtly, "Central Banking: A Blight on Humanity," and you can find it at GoldSeek here:
http://news.goldseek.com/GoldSeek/1255111200.php
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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