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Ronan Manly: Brazil's central bank imposes secrecy on gold purchases, swaps
3:10p ET Tuesday, August 3, 2021
Dear Friend of GATA and Gold:
Bullion Star researcher Ronan Manly today investigates the Brazilian central bank's purported recent purchase of 53 1/2 tonnes of gold and discovers that the bank refuses to answer any questions about it, like where the metal was purchased and where it is being vaulted.
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But with some review of the bank's archives Manly discovers that in recent years Brazil's central bank has undertaken numerous gold transactions, including swaps, with the Bank for International Settlements, the Bank of England, and bullion banks and appears to be vaulting much of its gold outside the country. The implication of the bullion bank transactions is that Brazilian central bank gold has been leased.
Manly notes the failure of Brazilian news organizations to examine the central bank's gold operations critically, and he endorses your secretary/treasurer's old observation that the amounts, locations, and disposition of central bank gold reserves have become secrets more sensitive than the amounts, locations, and disposition of nuclear weapons. That's because while nuclear weapons can only destroy the world, the control of gold is the control of the world.
Manly's report is headlined "Brazil's Central Bank Refuses to Answer Any Questions about Its Gold Reserves" and it's posted at Bullion Star here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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