A debate on gold on CBC Radio's 'The Current'

11:13p ET Tuesday, January 12, 2010

Dear Friend of GATA and Gold:

Canadian Broadcasting Corp. radio's "The Current" program with Anna Maria Tremonti yesterday featured a debate about gold between Sprott Asset Management's chief investment strategist, John Embry, and Larry Swedroe, principal and director of research for the Buckingham Family of Financial Services in St. Louis. Embry, of course, is pro-gold, and Swedroe is against it. While the debate was entertaining, it was more so because Swedroe doesn't know much about gold's current circumstances. For example, Swedroe remarked, "The U.S. leases gold out but they still own it." Actually, the U.S. government long has denied leasing gold, and any admission of gold leasing by the United States might be big news in the gold market. Maybe that's why the Federal Reserve is so insistent on concealing from GATA the documents it admits possessing in regard to gold swaps with foreign banks:

http://www.gata.org/node/7819

Anyone who wants to argue about gold owes it to his audience to learn about, among other things, the Fed's insistence on concealing its gold swap agreements.

You can listen to the CBC program by using the second playback mechanism on this page at the CBC Internet site, under the headline "Goldbugs":

http://www.cbc.ca/thecurrent/2010/201001/20100111.html

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

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