Russian central bank won't answer gold questions

If you doubt that national gold reserves, far from being quaint antiques, are assets even more strategic than nuclear weapons, and if you doubt that the gold market, far from being just another commodity market like soybeans, is actually the primary battlefield of a world war, the currency war, consider the questions recently put to the Bank of Russia by our friend the German freelance journalist Lars Schall, and the Bank of Russia's refusal to answer this week.

Schall's questions well might be put to any central bank and probably would evoke the same refusals to answer. On any planet with actual financial journalism, a news story might be found in this secrecy and certain conclusions drawn from it. Instead when it comes to gold the financial news media settle for comment from supposed market analysts, taking for granted that the market's biggest actors are not to be pressed for answers and not even mentioned if mentioning them can be avoided.

All this constitutes another proof of a heavily manipulated market, even as such manipulation is denied by market analysts whose next question to central banks will be their first.

Schall's report is headlined "Central Bank of Russia Refuses to Comment on Gold Questions" and it's posted at his Internet site here:

http://www.larsschall.com/2012/06/06/central-bank-of-russia-refuses-to-c...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.