You are here
Christian Garcia: U.S. Mint hedges silver purchases with HSBC and JPM
8:16p ET Tuesday, September 10, 2013
Dear Friend of GATA and Gold:
Christian Garcia of GoldSilver.com, who last year publicized the report from the South Carolina state treasurer's office that cited "artificial price suppression" in the gold and silver markets --
-- today discloses evidence that the U.S. Mint hedges its silver purchases with bullion banks HSBC and JPMorganChase, giving them valuable and tradeable inside information about metal demand and giving JPMorganChase cover for its assertions that its involvement in the monetary metals markets is entirely a matter of managing client accounts rather than the bank's own.
Of course GATA long has taken JPMorganChase at its word in this, believing that the bank's primary client in the monetary metals markets indeed has been the U.S. government.
Garcia presents his evidence, drawn largely from the U.S. Mint's own annual reports, in a video interview with GoldSilver.com proprietor Mike Maloney posted here --
-- and at GoldSeek's companion site, SilverSeek, here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Don't Let Cyprus Happen to You
Depositors at the Bank of Cyprus lost 47.5 percent of their savings. So to preserve your wealth, get some of it outside the banking system into physical gold and silver.
Worldwide Precious Metals (Canada) Ltd., established in 2001, specializes in physical gold, silver, platinum, and palladium. We offer delivery or secure and fully insured storage outside the banking system in Brinks vaults. We have access to gold and silver from trusted worldwide refineries and suppliers. And when you have an account with us you have immediate access to it for buying and selling your stored bullion.
For information on owning physical precious metals in your portfolio, visit us at: www.wwpmc.com.
Join GATA here:
Gold Investment Symposium 2013
Luna Park Conference Center, Sydney, Australia
Wednesday-Thursday, October 16-17, 2013
Mines and Money Australia
Melbourne Conference and Exhibition Centre
Tuesday, October 29-Friday, November 1, 2013
New Orleans Investment Conference
Sunday-Wednesday, November 10-13, 2013
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
* * *
Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit: