Giving the Game Away: Central Bankers are Human Beings Too

Dimitri Speck

Chapter Chapter 13 in The Gold Cartel, 2013, pp 50-51 from Palgrave Macmillan

Abstract: Abstract In order for the cooperation between bullion banks and central banks to work, the central banks must guarantee to deliver enough gold on demand in the event of a rising price. A quote by Alan Greenspan, then chairman of the Federal Reserve, is telling in this context. He said, in 1998: ‘Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.’26

Keywords: Central Bank; Price Increase; Logical Consequence; Federal Reserve; Bond Market (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-28643-7_13

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DOI: 10.1057/9781137286437_13

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