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State Dept. memo describes gold suppression, but State denies having any gold records

Section: Documentation

12:51a CT Tuesday, November 12, 2013

Dear Friend of GATA and Gold:

Gold researcher Koos Jansen has unearthed another confidential U.S. government memorandum describing in detail the government's objective of demonetizing gold and suppressing its price.

The memorandum, dated March 6, 1974, was written by Sidney Weintraub, the deputy assistant secretary of state for international finance and development, to Paul Volcker, undersecretary of the treasury for monetary affairs and future chairman of the Board of Governors of the Federal Reserve, who last year at least had the integrity, when cornered by financial journalist Lars Schall, to admit publicly the government's interest in rigging the gold price:

Volcker already had written in his memoirs in 2004 that in 1973, as a U.S. Treasury Department official, he advocated gold price suppression:

The bulk of the memorandum found by Jansen is a State Department study prepared for Secretary of State Henry Kissinger about ways "to encourage and facilitate the eventual demonetization of gold" through negotiations with other countries, particularly in Europe, and through international agreements.

The memorandum is posted at Jansen's Internet site here:

There is good commentary about it by the Zero Hedge Internet site here:

Of course many U.S. government records from the 1970s and earlier expressing an interest in controlling or suppressing the gold price have been publicized by GATA, Zero Hedge, and others in recent years. So perhaps more interesting is that in July 2012 GATA asked the State Department for access to all its records "involving ... treaties, international agreements, executive agreements, protocols, conventions, or other similar agreements relating to gold" --

-- and the State Department replied formally in May this year denying the request on the grounds that it could find no such records --

-- even as Jansen notes that the memorandum can be found at the Internet site of the State Department's own historian:

GATA received the same implausible response when it sued the Federal Reserve for access to its gold records in 2009. The Fed claimed that it simply couldn't find very many such records, professing not to be able to find even gold-related records GATA had found on the Fed's own Internet site.

That is, when it comes to anything important involving gold, the U.S. government simply lies.

For gold is not just the secret knowledge of the financial universe; it is the ultimate power in the world, the mechanism of control of the world economy and the valuation of all capital, labor, goods, and services. The U.S. government more readily would disclose the disposition of its nuclear weapons systems than the disposition of its gold and its surreptitious intervention in the gold market.

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


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