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View Full Version : Gold encumbrances question elicits only hearsay at Paul committee hearing




sailingaway
06-23-2011, 08:44 PM
http://news.goldseek.com/GATA/1308895620.php

In part:


Rep. Blaine Luetkemeyer, R-Missouri, noted that the audit documentation submitted to the committee by the Treasury mentioned nothing about encumbrances of the gold reserve, and Thorson replied, "I'm not aware of anything." But Thorson backed off when Luetkemeyer followed up by asking about the U.S. gold pledged to the IMF and when Paul asked if the IMF's supposed gold is being counted twice, once on the IMF's own books and again on the books of the United States and other IMF member nations.

Three years ago GATA pressed the IMF for straight answers to this very question, particularly as to the possession and location of the IMF's supposed gold, eliciting only evasion and then abrupt termination of the questioning:

http://www.gata.org/node/6242

Thorson replied weakly to Paul, "We do not audit the IMF."

JayKim47
06-24-2011, 11:02 AM
funny take on the hearings here: http://wp.me/1tatz

Bern
06-24-2011, 11:06 AM
I really got the impression that the Treasury doesn't consider gold encumbered by an instrument if they intend to redeem the instrument with paper instead of the gold that is pledged as collateral. Semantic games IMO.