"How does a central bank depress the 'paper gold price', when they don't own any gold or trade gold derivatives?"
Just how many times do you have to be told the same things? I would have thought only once would be enough. Then if you don't believe what you are told, you can use a search engine.
Once more just for you: A common, but not the only way to depress the gold price is for the "Federal" Reserve to send it's principal dealer, JP Morgan Chase, to the futures markets to short silver. Silver is chosen because it's thinly traded and therefore easier to manipulate. If the price is hit hard enough, (sometimes JP Morgan Chase works with other members of the Fed to ensure it is) because of the close correlation of the two metals, this brings the gold price down. JP Morgan chase have monumental amounts of silver bullion and coins and they only have to say they are hedging. The CFTC knows this is BS but it's all a united scam anyway.
As for the "Federal" Reserve not owing any gold: Again, you have to be told the same thing over and over and over again. Yes they don't own gold. However they instruct the Treasury Department, which is under their control to intervene. Quote from a previous Fed chairman (Alan Greenspan) twice before Congress: "Central banks stand ready to lease gold in increasing quantities should the price rise." Check that out if you don't believe me.
Have you got it this time or do you need to be told these things about a dozen more times?
