Izabella Kaminska: BIS gold swap intrigue continues

Section:

11:10a ET Thursday, July 6, 2010

Dear Friend of GATA and Gold:

At the Financial Times' Alphaville Internet site, intrepid blogger Izabella Kaminska today mulls some of the questions surrounding the recent gold swap transactions of the Bank for International Settlements. She excerpts speculation published today in the FT's "Lex" column. If the Financial Times spent a tenth as much time trying to get public answers from the primary sources in central banks as the newspaper spends speculating or trying to concoct a cover story for them, the mystery here might be solved.

That it remains a mystery is a reminder that the BIS and central banks generally strive to keep the world ignorant of their maneuvers and market interventions and that the mainstream financial press cooperates fully with that objective.

Kaminska's commentary on the BIS gold swaps is headlined "Commercial Bank 'Gold Swap' Intrigue Continues" and you can find it at FTAlphaville here:

http://ftalphaville.ft.com/blog/2010/07/08/281356/commercial-bank-gold-s...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.



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Prophecy to Become Coal Producer This Year
with 1.5 Billion Tonnes of Resource

Prophecy Resource Corp. (TSX.V: PCY) announced on May 11 that it has entered into a mine services agreement with Leighton Asia Ltd. to begin coal production this year. Production will begin with a 250,000-tonne starter pit as planned in August, with production advancing to 2 million tonnes per year in 2011. Prophecy is fully funded to production and its management team includes John Morganti, Arnold Armstrong, and Rob McEwen.

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