9:37p ET Saturday, July 4, 2015
Dear Friend of GATA and Gold:
Zero Hedge reports tonight that further analysis of the latest quarterly report of the U.S. Office of the Comptroller of the Currency discloses that precious metals derivatives, excluding gold, held by Citigroup have exploded and that the investment bank likely has cornered the silver market, which likely explains the metal's failure to respond to the international financial turmoil, just as gold has failed to respond to it. The big question, Zero Hedge notes, is: Who is Citigroup's counterparty?
Here's betting the U.S. Treasury Department and Federal Reserve know but won't be telling.
Zero Hedge's report is headlined "Citigroup Just Cornered the 'Precious Metals' Derivatives Market" and it's posted here:
http://www.zerohedge.com/news/2015-07-04/why-did-citigroups-precious-met... [1]
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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