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Robert Lambourne: BIS gold swaps rose in May despite approach of Basel 3 rules

Section: Documentation

By Robert Lambourne
Saturday, June 12, 2021

The recently released May statement of account of the Bank for International Settlements reports an increase of 45 tonnes in the bank's gold swaps to 517 tonnes. This follows declines in March and April 2021 from the record high estimated at 552 tonnes as of February 25, 2021.

The BIS seemingly remains an active trader of significant amounts of gold swaps on a regular basis.

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Congressman presses Treasury secretary to disclose U.S. gold activities

Section: Documentation

From Money Metals News Service, Eagle, Idaho
Thursday, June 10, 2021

WASHINGTON -- As foreign governments reportedly accumulate gold and de-dollarize their sovereign wealth funds, a Republican congressman is asking tough questions of the U.S. Treasury about its secretive gold activities.

Robert Lambourne: BIS gold swaps fell in March and April but remain high

Section: Documentation

By Robert Lambourne
Friday, May 14, 2021

The recently reported March and April statements of account of the Bank for International Settlements disclose a decline in gold swaps from the record high estimated at 552 tonnes as at February 26, 2021. 

The latest estimates are 487 tonnes as at March 31 and 472 tonnes as of April 30.

Ronan Manly: LBMA admits its boast of record silver hoard was false

Section: Documentation

LBMA Misleads Silver Market with False Claims about Record Silver Stocks

By Ronan Manly
Bullion Star, Singapore
Tuesday, May 11, 2021

In a shocking retraction, the bullion bank-dominated London Bullion Market Association has just announced that it has been overstating LBMA silver vault holdings by a massive 3,300 tonnes of silver.

This overstatement relates to the total quantity of physical silver bars that the LBMA claimed were being held in LBMA vaults in London as of end of March 2021.

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Basel 3 rules will wreck gold price suppression, LBMA warns Bank of England

Section: Documentation

12:29p ET Saturday, May 8, 2021

Dear Friend of GATA and Gold:

Pending "Basel III" regulations emanating from the Bank for International Settlements could destroy the clearing and settlement system for “unallocated” -- that is, “paper” or imaginary -- gold and silver, the London Bullion Market Association and the World Gold Council warned the Bank of England this week.

The bigger question behind 'regulatory capture' at the CFTC

Section: Documentation

1:05p ET Friday, May 7, 2021

Dear Friend of GATA and Gold:

Chris Marcus of Arcadia Economics notes on YouTube this week that the U.S. Commodity Futures Trading Commission has named a Goldman Sachs commodity trading official, Alicia Crighton, as co-chair of a committee advising the commission about the commodity markets:

https://www.youtube.com/watch?v=ofX9HvBzXCc 

Chris Marcus: Why did CFTC help suppress silver futures prices?

Section: Documentation

8:21p ET Sunday, May 2, 2021

Dear Friend of GATA and Gold (and Silver):

In an open letter to the acting chairman of the U.S. Commodity Futures Trading Commission, Rostin Behnam, published tonight, Chris Marcus of Arcadia Economics asks for an explanation of a comment Behnam made on March 18 that seemed to applaud and implicate the commission in the suppression of silver futures prices.

... Dispatch continues below ...


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Bank of England formally refuses gold leasing questions

Section: Documentation

10:55a ET Monday, March 22, 2021

Dear Friend of GATA and Gold:

A few financial journalists and market analysts lately have noted the seemingly anomalous and counterintuitive behavior of the price of gold, which has fallen amid the greatest burst of money creation in history and the explosion of commodity prices.

... Dispatch continues below ...


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USAGold: Coins and bullion since 1973

Pam and Russ Martens: Janet Yellen's Plunge Protection Team has $142 billion to play with

Section: Documentation

By Pam and Russ Martens
Wall Street on Parade
Wednesday, March 17, 2021

Most Americans are unaware of the existence of the Exchange Stabilization Fund (ESF). Together with the Federal Reserve Bank of New York (New York Fed) it has morphed into the U.S. Treasury Secretary’s Plunge Protection Team.

As gold fell 6% in February, BIS gold swaps hit record high

Section: Documentation

By Robert Lambourne
Thursday, March 11, 2021

The recently reported February statement of account of the Bank for International Settlements discloses that the bank's use of gold swaps increased to about 552 tonnes, which appears to be a record high, slightly ahead of the estimate of 545 tonnes reported at the end of December. 

This record high in BIS gold swaps came in a month that saw a 6% decline in the gold price, which fell from $1,844.13

As shown by Table B below, the BIS trades significant amounts of gold swaps on a regular basis.

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