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Treasury's report on gold at Fed is like queen's visit to Bank of England's vault, Turk

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Published : February 20th, 2013
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Category : GoldWire

Continuing his interview with King World News today, GoldMoney founder and GATA consultant James Turk says the U.S. Treasury's report this week on gold held by the Federal Reserve is the equivalent of Queen Elizabeth's recent visit to the Bank of England's gold vault. "It's trying to make people (and countries) feel comfortable that the gold is really there," Turk says. "But why should they keep gold in other vaults? We're not on a gold standard anymore. We don't need to have gold stored in different vaults around the world to settle international payments. The gold is really just a country's reserve, and the only way you can make certain that you have control of that reserve is to store it in your own central bank's vault."

An excerpt from the interview is posted at the King World News blog here:

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
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