Zero Hedge mocks CFTC's supposed concern about gold and silver market rigging

Section:

9:55a HKT Thursday, March 13, 2013

Dear Friend of GATA and Gold:

Zero Hedge's pseudonymous Tyler Durden today has some wonderfully sardonic comment on the supposed musing of the U.S. Commodity Futures Trading Commission about the propriety of a few banks "fixing" gold and silver prices every day in London:

"We are confident that this latest noble CFTC effort will be for naught. After all, wholesale market manipulation like that of LIBOR and the energy market is contained to those sectors. It is preposterous and inconceivable that bankers, anywhere and especially in London, would be tempted to intervene illegally and push gold prices lower. After all, it is not like a surge in gold and precious metal prices is indicative of a loss of faith in the status quo and fiat money, and thus an embedded status quo oligarchy would have any interest in keeping precious metal prices lower. Which is why we urge the CFTC to promptly forget this latest charade and to instead focus on much more productive things: like ignoring the creeping takeover by high-frequency trading of all commodity markets as well as complaining to Congress about its low, low budget."

The Zero Hedge commentary is here:

http://www.zerohedge.com/news/2013-03-13/cftc-investigating-london-gold-...

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



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