Gold leasing is a fraud because central banks haven't wanted their metal back
Submitted by cpowell on Thu, 2013-07-11 19:06. Section: Daily Dispatches
3:21p ET Thursday, July 11, 2013

Dear Friend of GATA and Gold:

Gold leasing is a fraud and conspiracy, Jeff Nielson of Bullion Bulls Canada writes today, since central banks that lend gold know that it eventually will be sold into the market to diminish the value of the asset, which isn't really their own but something they hold in trust for their nations:

http://www.bullionbullscanada.com/gold- ... d-and-co...

But the bigger fraud here is on the gold and currency markets. For while gold is an asset of central banks, its value is the reciprocal of assets far more important to them -- their currencies and government bonds.

When they have lent gold in recent decades, Western central banks have not really wanted it back; rather they have wanted the gold price suppressed or controlled and the value of their currencies and bonds thereby supported.

...