Currency Newswire » Gold Suppression

World Bank Chief Calls on G-20 to Reconsider Gold Standard

admin — Mon, 08 Nov 2010 18:12:17 +0000

In a commentary published in Monday’s Financial Times, World Bank President Robert Zoellick wrote that an updated gold standard could help retool the world economy amid tensions over currencies and the United States’ monetary policy.

Looking ahead to this week’s meeting of the Group of 20 (G-20) nations in Seoul, the former US trade representative said the world needed a new regime to succeed the Bretton Woods II system of floating currencies, which has been in place since the fixed-rate currency system linked to gold broke down in 1971.

Although the gold standard helped guard against inflation, it was abandoned because it did not allow for the flexible monetary policy many economists believe is essential in counteracting economic shocks.

“Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today,” Zoellick wrote.

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Russian Intelligence Found Gold Market Info Valuable

admin — Wed, 30 Jun 2010 05:04:40 +0000

Russian spies in the United States whose arrest was announced Monday last year conveyed information about the gold market that the Russian security service considered “very valuable” and forwarded to the Russian finance ministry and ministry of economic development, according to the criminal complaint filed by the FBI with U.S. District Court in New York.

The gold angle in the story was highlighted in reporting Monday night by the Economic Policy Journal, based in Washington, D.C.

Perhaps most interesting for GATA’s purposes, the FBI’s criminal complaint suggests that the spies obtained the gold market information through “a prominent New York-based financier” who is a political fund raiser and a friend of a U.S. Cabinet member. Would a New York-based financier have valuable information about the gold market if the U.S. government wasn’t using New York financial houses for gold market intervention purposes?

Cold War Espionage is Back

admin — Tue, 29 Jun 2010 05:59:09 +0000

The KGB is back, and it’s leaner and meaner than ever. In a dramatic bust, the FBI has arrested 10 Russian individuals for allegedly carrying out long-term, deep cover assignments in the United States on behalf of Russia.

The 37 page indictment from the Southern District of New York reads like a John LeCarre-cum-Ian Flemming espionage thriller and has everything including conspiracies, brush passes, handlers, money exchanges, code words, flash memory cards, covert meetings in Central Park, cracked secret codes, infiltration of strategic US organizations, and last but not least, Russia’s apparent interest “about prospects for the global gold market”, whereby espionage conducted by one of the group of rounded-up spies served to at least partially determine Russian policy vis-a-vis gold.