Fleckenstein dismissed as 'nonsense' the silver rigging Deutsche Bank has just admitted

Section:

11:24a ET Thursday, December 15, 2016

Dear Friend of GATA and Gold:

Thanks to GATA's friend D.W. for noting today that your secretary/treasurer should have read deeper into money manager Bill Fleckenstein's internet site when criticizing him last night for his obliviousness to market manipulation:

http://www.gata.org/node/17017

Fleckenstein not only dismissed the likelihood of market manipulation by government. He also dismissed as "nonsense" concerns about the possibility of "massive collusion to suppress silver prices."

Toward the bottom of Fleckenstein's question-and-answer page --

https://www.fleckensteincapital.com/faq.aspx

-- is this entry:

"Q: Do you think the silver market is manipulated?

"Fleck: No. Silver is a thin market, and it is possible to push the futures around to some degree (which does happen). Thus, silver is extremely volatile and always has the potential to go berserk -- in either direction. But massive collusion to suppress silver prices is nonsense -- not to mention, if it did exist, they have done a terrible job. 'But what about the Hunts?' The Hunts weren't stupid; they just got beaten. 'But what about JPM?' Silver is not where it is because JPM was short it. My silver buddy, who is very experienced as a silver trader, would tell you that story is nuts, as would my friend who in fact used to trade the silver book at JPM."

Of course what Fleckenstein assures his readers and investors is "nonsense" has just cost Deutsche Bank $38 million to settle the anti-trust lawsuit against it for rigging the silver market. It also has cost Deutsche Bank the disgorgement of massive documentation of silver- and gold-market rigging by the bank's traders and traders for other investment banks, documentation of ... yes, "massive collusion."

Will Fleckenstein correct the misinformation he is purveying? Will he examine the documentation of the market manipulation he is denying?

Not if he wants to preserve his invitations to the banking industry's holiday parties and its patronage of his investment house. Everyone else should just keep trusting Fleckenstein's anonymous buddies.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org



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