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Eric de Carbonnel: The Fed is selling put options on Treasury bonds
9:55p ET Friday, April 22, 2011
Dear Friend of GATA and Gold:
In commentary posted at 24hGold, market analyst Eric de Carbonnel of MarketSkeptics.com reviews evidence from the Federal Reserve's own minutes that the Fed is manipulating the government bond market using derivatives, particularly the sale of put options on government debt. This, de Carbonnel writes, is a mechanism by which U.S. government bonds are insured against default by the U.S. government itself, which isn't insurance at all but rather a fraud.
The Fed's admission in 2009, as it resisted GATA's demand for access to the Fed's gold records, that it has secret gold swap arrangements with foreign banks (http://www.gata.org/node/8192), along with the Gold Reserve Act of 1934 (http://www.law.cornell.edu/uscode/html/uscode31/usc_sec_31_00005302----0...), which authorizes the U.S. government's secret intervention in the gold market and other markets through the Exchange Stabilization Fund, combine with much other official evidence in GATA's documentation file (http://www.gata.org/taxonomy/term/21) to make surreptitious market intervention by the U.S. government seem probable in all major markets.
De Carbonnel's analysis is headlined "Fraud: The Fed is Selling Put Options on Treasury Bonds to Drive Down Yields" and you can find it at 24hGold here:
http://www.24hgold.com/english/news-gold-silver-fraud-the-fed-is-selling....
Or try this abbreviated link:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Canuc Resources Pursues Ecuador and Nova Scotia Gold Projects
Canuc Resources Corp. (TSX: CDA) has confirmed high-grade gold and the potential for large-tonnage, low-grade copper and gold mineralization at its primary asset, property in the historic Nambija gold mining district in southeastern Ecuador.
Last November Canuc took an option on the Mill Village gold property in southwestern Nova Scotia, which includes two past-producing mines. Canuc plans to begin surface and underground exploration at Mill Village in the next several weeks, financed by $2 million recently raised through a private placement.
To generate immediate income, Canuc is acquiring MidTex Oil and Gas Co., owner of a producing gas well and a lease on 320 acres in Stephens County, Texas.
Canuc's CEO, Gary Lohman, has more than 30 years of experience in the mining industry, primarily as a geologist, and the company's officers include similarly experienced people.
For more information about Canuc, please visit http://www.canucresources.ca/.
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