Deliverator, This statement spoken by Mr. Greenspan well over a decade ago still seems to be the central piece of evidence that the conspiracy crowd like to trot out to make their case.
So lets have a civilized discussion about it and see what we can learn.
Here is my take on the statement:
1)- There are a number of things that strike me as being a little odd about the statement. Sir Allan uses the plural, he says central banks. I find it hard to believe that he could speak on behalf of other sovereign central banks other than his own on the matter. Perhaps this is why the conspiracy crowd read into this as evidence of a conspiracy. I think he probably just mispoke.
2)- There is a huge difference between leasing and selling. If the central banks want to stop the price of gold from rising then they would in my opinion have to sell their gold,a finite process, rather than lease it, which is merely renting it. I would like your opinion on the difference between renting and leasing and what its long term effect would be on the price of gold.
