Andrew Maguire: CFTC has had metals market rigging documents for a year
2:43p ET Friday, September 13, 2013
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire today tells King World News that two JPMorganChase employees a year ago provided the U.S. Commodity Futures Trading Commission with documentation of the bank's manipulation of the gold and silver markets but the CFTC appears to have buried it. The documentation, Maguire says, is also in the possession of a law firm specializing in the representation of whistleblowers.
Of course if the CFTC is indeed sitting on such documentation of market rigging, it would support suspicions that JPMorganChase has been telling the truth when it has said that it has traded the monetary metals only for "clients" and that these clients are U.S. government agencies specifically authorized to rig markets secretly, like the Treasury Department's Exchange Stabilization Fund --
-- which, according to statute, "may deal in gold, foreign exchange, and other instruments of credit and securities" -- that is, agencies authorized to deal secretly in everything.
An excerpt from Maguire's interview is posted at the King World News blog here:
CHRIS POWELL, Secretary/Treasurer
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