‘Fisher’ at G-10 gold meeting was likely NY Fed market rigger Peter Fisher
March 31, 2011 by goldguru · Leave a Comment
GATA
2a MT Saturday, February 19, 2011
Dear Friend of GATA and Gold:
A well-informed friend notes that the “Fisher” quoted in the minutes of the April 1997 meeting of the G-10 Gold and Foreign Exchange Committee, dispatched to you yesterday, was almost certainly Peter R. Fisher, then head of open market operations and foreign exchange trading for the Federal Reserve Bank of New York, not Richard W. Fisher, lately president of the Federal Reserve Bank of Dallas, as first suspected.
This makes wonderful sense, since the office Peter Fisher held at the New York Fed in 1997 was essentially the Fed’s primary market-rigging office, and Peter Fisher’s work was inadvertently brought under suspicion the following year in an admiring but later notorious profile published by The Wall Street Journal, which reported that he “swaps intelligence and rumors with traders and dealers from his office in the Fed’s 10th-floor executive suite that overlooks the trading floor he runs.” Of course there was then and is now no more important market for the Fed to rig than the gold market, and when the G-10 Committee on Gold and Foreign Exchange met in April 1997 to discuss “coordination” of Western central bank policy on gold, Peter Fisher would have been a vital participant.
The Fisher identification has been corrected in yesterday’s dispatch in the GATA archive here:
http://www.gata.org/node/9623
And here:
http://www.gata.org/node/9624
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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