- GATA Begins Campaign To Wrest
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- Documents From The Fed And Treasury
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- Dear Friend of GATA and Gold -
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- GATA today began a campaign to use the federal Freedom
of Information Act to reveal the disposition of United States gold reserves.
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- GATA delivered to the Federal Reserve Board and the Treasury
Department formal requests for access to all documents in their possession
that have been generated since 1990 and mention swaps of gold involving
the U.S. government. Such swaps of gold are commonly used by governments
to intervene surreptitiously in the gold and currency markets, and in May
this year provisions for swaps began to be cited in Treasury Department
records of the U.S. government's international financial reserve position:
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- http://www.gata.org/node/5637
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- GATA's requests seek not only any documents showing gold
swaps but also any documents identifying the legal authority for swaps
and any documents describing the U.S. government's policy for engaging
in them.
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- "These requests to the Federal Reserve and the Treasury
are only the first we plan to make to seek a full accounting of the U.S.
gold reserve," GATA Chairman William J. Murphy III explains. "We
also plan to ask for documents involving gold loans and leases and any
other possible impairments of the gold reserve.
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- "That reserve has not been audited in 60 years,
even as intervention by governments in the currency and gold markets has
been increasing dramatically. Investors have the right to know exactly
what the U.S. government is doing to affect what are supposed to be free
markets. And the U.S. gold reserve is part of the national patrimony, the
birthright of every citizen. All we want is the truth. Who can be against
that?"
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- GATA's FOI requests were prepared by the McLean, Virginia,
law firm of William J. Olson, P.C., in association with GATA's consultant,
the constitutional scholar and lawyer Edwin Vieira Jr., author of the monetary
history of the United States, "Pieces of Eight."
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- If the Fed and the Treasury fail to respond to the requests
in a reasonable time, refuse to provide the documents sought, or provide
documents with excessive redactions, GATA can bring the agencies to court.
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- "This campaign for the truth will incur substantial
expense for GATA," Murphy says. "So as always GATA will be grateful
for contributions from its supporters."
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- Since GATA is recognized by the U.S. Internal Revenue
Service as a tax-exempt educational and civil rights organization, contributions
are federally tax-deductible in the United States. Information on contributing
to GATA is available here:
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- http://www.gata.org/node/16
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- GATA's request to the Federal Reserve has been posted
on the Internet here:
- http://www.gata.org/files/GATA-FOI-Fed-120607.pdf
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- GATA's request to the Treasury Department has been posted
on the Internet here:
- http://www.gata.org/files/GATA-FOI-Treasury-120607.pdf
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- CHRIS POWELL, Secretary/Treasurer
- Gold Anti-Trust Action Committee Inc.
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- Contact GATA
- info@gata.org
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- Gold Anti-Trust Action Committee
- 7 Villa Louisa Road
- Manchester, Connecticut
- 06043-7541 USA
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- www.gata.org
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- Copyright © 1999-2007 All rights reserved.
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