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TF Metals Report: Onward toward bullion bank collapse
7:48p ET Saturday, June 25, 2016
Dear Friend of GATA and Gold:
A lot of imaginary gold was created and sold Friday to keep the monetary metal's price under control in futures contracts on the New York Commodities Exchange following the United Kingdom's declaration of independence from the European Union, the TF Metals Report's Turd Ferguson writes today. Ferguson attributes it to the "doubling down" of investment banks on their short position in gold futures.
But your secretary/treasurer has to wonder whether the gold shorting was actually done by governments and central banks using the investment banks as fronts. After all, records on file at the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission show that governments and central banks are surreptitiously trading all major U.S. futures contracts --
-- and the major central banks announced on the eve of the Brexit referendum that they were prepared to intervene in the markets as necessary to control prices:
Fortunately for governments and central banks, mainstream financial news organizations will never inquire into this, having made themselves crucial participants in market rigging.
Ferguson's analysis is headlined "Onward toward Bullion Bank Collapse" and it's posted at the TF Metals Report here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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