Why would anyone want to suppress the price of silver?

Section:

9:22p ET Tuesday, June 8, 2004

Dear Friend of GATA and Gold:

No sooner had this official of the U.S. Commodity
Futures Trading Commission been compelled by
Ted Butler's agitation to respond to hundreds of
complaints about manipulation of the silver
market than he resigns for a private-sector job.

Makes you wonder if maybe he didn't like what
he just had to do in denying any possibility that
something might be wrong in a market the CFTC is
supposed to regulate.

Complaints about market manipulation now may
be sent to the CFTC's janitorial division.

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

* * *

CFTC Announces Resignation of Michael Gorham

www.cftc.gov/opa/press04/opa4935-04.htm

CFTC Press Release
Tuesday, June 8, 2004

WASHINGTON -- The Commodity Futures Trading
Commission (CFTC) today announced the resignation
of Dr. Michael Gorham, effective June 30, 2004. Dr.
Gorham is leaving the commission to become the
director of the Center for Financial Markets at the
Illinois Institute of Technology in Chicago.

Dr. Gorham was recruited by CFTC Chairman James
E. Newsome to become the first director of the
commission's Division of Market Oversight. The
division was created as part of a 2002 restructuring
of the commission to facilitate implementation of the
Commodity Futures Modernization Act of 2000). The
division handles the designation of new markets, the
review of new futures and option products, the
monitoring for and detection of market manipulation,
and the protection of customers from market abuses.

During his tenure as director of DMO, Dr. Gorham
oversaw the designation of two new fully regulated
exchanges, U.S. Futures Exchange (EUREX US),
and HedgeStreet, the processing of eight new
exempt markets, and the review of over 450 new
futures and option contracts.

Dr. Gorham worked closely with the Federal Energy
Regulatory Commission and others on the many
complex issues arising out of the recent exceptional
volatility in the energy markets, and with the U.S.
Department of Agriculture on the market issues
arising out of the finding of BSE in both Canadian
and U.S. cattle.

Dr. Gorham, in announcing his departure, commented,
"I was extremely fortunate to have been asked to serve
at the commission during a period of dramatic industry
innovation, intense competition, and profound structural
change. I have loved this job and I will be sad to leave,
but it's time for me to return home to Chicago and to a
very exciting and challenging opportunity at the Illinois
Institute of Technology."

In accepting Dr. Gorham's resignation, Chairman
Newsome said, "While it is with much regret that I
accept Mike's resignation, I fully understand his
decision to return home to Chicago to a very exciting
opportunity. I personally recruited Mike to become
the first director of the Division of Market Oversight
because of his impressive credentials in the industry,
which he gained both as an executive at a futures
exchange and as an academic. I don't think I am
exaggerating when I say that he has exceeded every
expectation that I had. The commission's loss is the
Illinois Institute of Technology's gain. On behalf of
my fellow commissioners, I wish Mike every success in
his future endeavor."

----------------------------------------------------

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http://www.goldcolony.com

http://www.miningstocks.com

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http://www.SilverSeek.com

http://www.investmentrarities.com

http://www.kuik.com/KH/KH.html
(Korelin Business Report -- audio)

http://www.plata.com.mx/plata/home.htm
(In Spanish)
http://www.plata.com.mx/plata/plata/english.htm
(In English)

Subscription site:

http://www.lemetropolecafe.com/

http://www.hsletter.com

Eagle Ranch discussion site:

http://os2eagle.net/checksum.htm

Ted Butler silver commentary archive:

http://www.investmentrarities.com/

----------------------------------------------------

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info@mocoin.com
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----------------------------------------------------

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