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South Carolina state treasurer's report notes gold and silver price suppression

Section: Daily Dispatches

11:51a ET Saturday, March 31, 2012

Dear Friend of GATA and Gold (and Silver):

Thanks to Christian Garcia of GoldSilver.com for calling attention to the report recently prepared by the office of South Carolina State Treasurer Curtis M. Loftis Jr., at the direction of the state legislature, about the advisability of investing state funds in gold and silver. A GoldSilver.com news video citing the report is posted at YouTube here:

http://www.youtube.com/watch?v=ll-9un7IIfw&lc=hkdJx_zazqJq7sp0G5SgJSAYjS...

The state treasurer's office seems to have discovered GATA's work and to have fully adopted our conclusions, as it tells the legislature: "Similar to other commodities, the value of gold and silver is determined by supply and demand, as well as speculation. The Federal Reserve, London Bullion Market Association, JP Morgan Chase, and HSCB Holdings have practiced fractional-reserve banking and engaged in naked short selling causing artificial price suppression."

The state treasurer's report is posted at his Internet site here:

http://www.treasurer.sc.gov/Documents/Proviso%2089%20145.pdf

And, just in case, at GATA's Internet site here:

http://www.gata.org/files/SouthCarolinaTreasurerReportOnGold&Silver-2012...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.



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