The Gold Anti-Trust Action Committee Inc. today (Dec. 30th, 2009) brought suit against the U.S. Federal Reserve Board, seeking a court order for disclosure of the central bank's records of its surreptitious market intervention to suppress the monetary metal's price.
The suit was filed in U.S. District Court for the District of Columbia.
This is the opening snippet from rightsidenews.com who carried this article entitled 'GATA Sues Federal Reserve to Disclose Gold Market Intervention Records' They also refer to a letter from Kevin Walsh, a member of the board which states:
I have confirmed that information withheld from you under exemption 5 in this case is both predecisional and deliberative within the meaning of exemption 5.
Accordingly, this information was properly withheld.
'Properly Withheld' that sort of comment sticks in the throat and was aptly picked up by Al Korelin of The Korelin Economics Report when he interviewed Chris Powell, GATA Secretary/Treasurer. Click here to listen to it. Its also on Youtube.
The gold price manipulation theory has been around for some time so it should be interesting to see just how this one pans out. We don't know how long it will take to get this issue into court but GATA have asked the questions and The Federal Reserve Board need to come up with a few answers.
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