Today's market-rigging disclosures only hint at far greater offenses

Section:

2:54p ET Wednesday, November 12, 2014

Dear Friend of GATA and Gold:

As much as we may claim some vindication from today's official confirmations of LIBOR and gold-market rigging --

http://www.gata.org/node/14706

http://www.gata.org/node/14707

-- they involve, after all, only the smaller participants, the investment banks that often function as agents for Western central banks.

The much bigger issue is the surreptitious involvement of central banks in market rigging, and not just the rigging of the gold market but increasingly the rigging of all commodity markets, as indicated by the documents filed this year by futures exchange operator CME Group with the U.S. Commodity Futures Trading Commission and the Securities and Exchange Commission:

http://www.gata.org/node/14385

http://www.gata.org/node/14411

This is an enormous story with consequences for everyone on the planet, signifying the destruction of democracy, markets, and human progress everywhere, as well as the vicious exploitation of the developing world and the transfer of its wealth to the developed world. But except for the story's political sensitivity, why can't it be reported by respectable financial news organizations?

Today's disclosures are only the smallest start, by no means a conclusion.

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



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