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Today's market-rigging disclosures only hint at far greater offenses
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.
Direct Ownership and Storage of Precious Metals
Outside the Banking System in Zurich and Singapore
Goldbroker.com is a precious metals investment company that enables investors to own and store gold directly in their own name (no mutualized ownership) in Zurich and Singapore.
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Goldbroker.com was launched in 2011 so that investors would avoid any counterparty risk when investing in physical gold and silver.
Goldbroker.com is listed among GATA's recommended monetary metals dealers. (http://www.gata.org/node/173)
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