Gold, China, SDRs and a Multicurrency System; Central Bankers Gather Privately In Washington This Friday

TND Guest Contributor:  Chris Powell |

Attention, mainstream financial journalists! Here’s something else important for you to ignore this week, thanks to the diligent eye of gold researcher and GATA consultant Ronan Manly.

It’s a breakfast meeting to be held Friday in Washington for “a select group of central banks and other official-sector institutions,” sponsored by the Official Monetary and Financial Institutions Forum and the World Gold Council, to discuss “gold, the renminbi, and the multicurrency system,” convened in conjunction with the spring meeting of the International Monetary Fund and World Bank Group, a United Nations agency:

http://www.omfif.org/meetings/briefings/

“Discussions,” the discreet announcement from OMFIF says, “are under Chatham House Rules,” whereby information may be used but never attributed:

http://www.chathamhouse.org/about/chatham-house-rule

While many nations with central banks purport to be representative democracies and while the World Gold Council purports to be the representative of the gold industry, some of whose participants actually have to get their hands dirty every day —

http://www.gold.org/about-us

— attendance at Friday’s meeting will be by invitation only. So for the record GATA has requested one.

But if you don’t get an invitation, you can fairly assume that the valuation of all capital, labor, goods, and services in the world is none of your business. This is after all the central bankers’ world. The rest of us are lucky that they let us even pass through it from time to time, though the impertinent among us might wonder why central bankers should need to talk in secret about something supposedly as irrelevant and retrograde as gold.

Good thing for them that mainstream financial journalists have neither curiosity nor backbone.

# # # #

About Chris Powell:

Mr. Powell has been managing editor of the Journal Inquirer, a daily newspaper in Manchester, Connecticut, since 1974. He serves as the secretary/treasurer and a director of the Gold Anti-Trust Action Committee (GATA). Mr. Powell publishes GATA “dispatches” on stories relevant to the precious metals community: click here to access them and the GATA website. For additional information about precious metals, financial markets and the economy a 2 week free trial to GATA chairman Bill Murphy’s subscription service is available by clicking here.   This article is reprinted on The News Doctors with permission.