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Thirteen years ago as assistant treasury secretary for international affairs, Truman denied in a letter to GATA that the Treasury Department was involved in manipulation of the gold market. But he did not volunteer any awareness of gold market manipulation from other sources.
Ironically, in his presentation to last month's investment conference, sponsored by the Bank for International Settlements and the World Bank and held in Washington –
Truman, now a senior fellow at the Peterson Institute for International Economics, urged greater transparency for central banks and sovereign wealth funds and seemed to argue that they should not resist devaluation of the U.S. dollar. Truman cited the work of two colleagues at the Peterson institute who last week published a report blaming the U.S. trade deficit on currency manipulation by foreign central banks and advocating dollar devaluation: