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FSN: IMF Study in 1999 Found 80 Central Banks Lending 15% of Official Gold Reserves
Sunday, December 9, 2012 14:12
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from GATA.org
Dear Friend of GATA and Gold:
A study by the International Monetary Fund in 1999, obtained last week by GATA’s researcher R.M., reported that more than 80 central banks had lent 15 percent of official gold reserves into the market and that central banks then lending gold included the German Bundesbank, the Swiss National Bank, the Bank of England, the Reserve Bank of Australia, and the central banks of Austria, Portugal, and Venezuela.
The IMF study, commissioned as the agency pondered selling some of its own gold, emphasized the lack of transparency in the gold market and the secrecy demanded by central banks.
2012-12-09 14:03:23
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