CPM Group's Jeff Christian on BNN on eve of gold and silver explosion: Go short


9:16p ET Thursday, September 13, 2012

Dear Friend of GATA and Gold:

For some reason Jeff Christian, managing director of the metals consultancy CPM Group, long has been getting under the skin of certain GATA folks. But Christian has been a hero to your secretary/treasurer ever since his testimony at the March 25, 2010, hearing of the U.S. Commodity Futures Trading Commission, where he revealed that even the so-called "physical" gold and silver markets in London are mainly just paper shorting operations:


When Christian testified, gold was below $1,200 and silver was at $17. But his comments about the phoniness of the "physical" market inadvertently reinforced GATA's urgings to investors in gold and silver to get out of mere paper claims and into real metal and to remove it from the bullion market and banking system. Whereupon the metals rose steadily over the next 18 months, peaking at $1,900 and $47, respectively.

On Monday this week Christian appeared on Business News Network in Canada and predicted that the U.S. Federal Reserve would announce no substantial bond monetization this week, that the Fed's inaction would smash commodity prices, and that CPM Group had advised its clients to go short gold and silver:


If they took Christian's advice, CPM Group's clients have not done well this week -- nor, for that matter, over the last decade or so.

BNN appears to have banned GATA representatives from interviews on the network:


But as long as BNN keeps giving airtime to Christian, gold and silver may do just fine. He may have become a bit like the hapless police detective played by the late Leslie Nielsen in the "Naked Gun" movies, whose obliviousness was nevertheless thought-provoking:


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


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