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Bron Suchecki: Time to give up on the CFTC
8:09p PT Thursday, May 23, 2013
Dear Friend of GATA and Gold:
Bron Suchecki of the Perth Mint today reviews U.S. commodity trading regulations and concludes that they're too complicated and full of loopholes to result in any sensible interpretation that might be applied against market manipulation by the Commodity Futures Trading Commission.
"What the market needs," Suchecki writes, "is straightforward, common-sense rules that everyone knows in advance. ... Or just drop the pretense and go free-for-all law of the jungle. Having interest rates this low doesn't help, as speculators have minimal cost in holding a position for a long time (until it blows up) or taking on large positions. This just adds to the volatility. Time to give up on the CFTC being able to control this."
Suchecki's commentary is headlined "Time to Give Up on the CFTC" and it's posted at 24hGold here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Jim Sinclair to hold gold seminar in London on June 1
Mining entrepreneur and gold advocate Jim Sinclair will continue his international seminars about the gold market with a four-hour session in London on Saturday afternoon, June 1. The seminar will be held at the Hilton hotel at Heathrow Airport. Admission will be $50. Attendees must register in advance. Complete information is posted at Sinclair's Internet site, JSMineSet, here:
Join GATA here:
World Resource Investment Conference
Sunday-Monday, May 26-27, 2013
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
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