The very purpose of government gold reserves is currency market rigging

10:41a ET Tuesday, March 24, 2026 Dear Friend of GATA and Gold: Since its founding in 1998 GATA has maintained that governments and central banks use gold for rigging the currency markets -- sometimes openly and sometimes surreptitiously, to deceive investors and other governments and central banks.  The Reserve Bank of Australia used to acknowledge candidly in its annual reports that currency market rigging is the very purpose of gold reserves.  ... Dispatch continues below ... ... ADVERTISEMENT ... Buy metals at GoldMoney and enjoy international storage GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:  http://www.goldmoney.com/?gmrefcode=gata "Foreign currency reserve assets and gold," the Reserve Bank's 2003 report said, "are held primarily to support intervention in the foreign exchange market": https://www.rba.gov.au/publications/annual-reports/rba/2003/pdf/2003-report.pdf Today, as seen below, Bloomberg News acknowledges this purpose in regard to Turkey, on the basis of anonymous sources. Will Bloomberg or any mainstream news organization ever acknowledge this purpose in regard to the United States, its allies, and other major powers and begin posing critical questions about it? Or must currency market rigging questions be reserved for lesser countries, like India, whose use of U.S. dollar derivatives for surreptitious currency market intervention was considered reportable by Bloomberg the other day?: https://www.gata.org/node/24578 For that matter, will the gold and silver mining industry itself ever openly recognize that its products are primarily money that competes with government-issued money, and start acting accordingly? CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. [email protected] * * * Turkey Eyes $135 Billion Gold Reserves for Defense of Lira By Beril Akman and Kerim Karakaya Bloomberg News Tuesday, March 24, 2026 Turkey's central bank is preparing an expanded toolkit to defend the lira from Iran war-related volatility that includes potentially tapping its vast gold reserves, according to people familiar with the matter. The bank has held discussions about conducting gold-for-foreign currency swap transactions in the London market, the people said, asking not to be named because the deliberations are private. The central bank declined to comment. Turkey has been one of the world's most aggressive gold buyers over the past decade as the country’s leadership sought to trim exposure to U.S. dollar-denominated assets. The monetary authority had gold reserves equivalent to about $135 billion as of early March, according to data compiled by Bloomberg. ... ... For the remainder of the report: https://www.bloomberg.com/news/articles/2026-03-24/turkey-mulls-tapping-135-billion-gold-reserves-for-lira-defense * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon: https://tinyurl.com/3xt6uw66 * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work: https://www.gata.org/sites/default/files/GATA-silver-round-front.png