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Congressman keeps pressing Treasury, CFTC about gold market rigging
10:23a ET Tuesday, September 10, 2019
Dear Friend of GATA and Gold:
U.S. Rep. Alex X. Mooney, R-West Virginia, is continuing his efforts to get answers from the U.S. Treasury Department, Federal Reserve, and Commodity Futures Trading Commission about surreptitious interventions by the U.S. government in the financial and commodity markets and particularly the gold and silver markets.
... Dispatch continues below ...
Glint Completes L5 Million Private Placement
and Welcomes Sprott as Strategic Investor
Thursday, June 13, 2019
Glint Pay Inc. (glintpay.com), the first-mover company that enables physical gold to make instant payments using a debit Mastercard, today announced the completion of a private placement of L5 Million in London-based parent Glint Pay Ltd. The financing was led by Sprott, an alternative asset manager and a global leader in precious metal and real asset investments with approximately $8 billion in assets under management.
Founded in the United Kingdom in 2016, Glint established the first app-based account in February 2018 giving clients in Europe a low-cost way to buy, sell, and save physically allocated gold and for the first time instantly spend it via the Glint Mastercard anywhere Mastercard is accepted. Glint Pay then added multiple currency wallets, including U.S. dollars, British pounds, and euros in July 2018. The company is working on its launch into the United States. ...
... For the remainder of the announcement:
Mooney's efforts began with letters sent to the Federal Reserve chairman and treasury secretary in April 2018:
In July 2018 the Fed and Treasury responded to Mooney but only incompletely, the Fed denying that it was trading in gold but refusing to say whether it is trading in other markets, the Treasury giving a partial denial of gold trading but failing to answer about the government's policy toward gold:
In February this year Mooney asked the CFTC, as GATA already had done, if it has jurisdiction over manipulative trading undertaken by the U.S. government or brokers acting for the U.S. government, or if such manipulative trading is authorized by federal law:
The CFTC has never responded to GATA or to Mooney.
Summarizing the major questions that remain unanswered:
1) What is U.S. government policy toward gold? Is the policy still to drive gold out of the world financial system in favor of the U.S. dollar, as State Department records show the policy was in the 1970s?
2) Is the Treasury Department's Exchange Stabilization Fund transacting in gold?
3) What markets are the Fed and Treasury trading in, through what mechanisms, and for what purposes?
4) Does the CFTC have jurisdiction over manipulative trading by the U.S. government or its agents?
5) Has the U.S. gold reserve ever been audited for any encumbrances? If so, what were the findings?
Mooney's latest letter to Treasury Secretary Steven Mnuchin, sent last month, is here:
Mooney's latest letter to the CFTC, also sent last month, is here:
Of course the refusal of the Fed, Treasury, and CFTC to answer the congressman's questions promptly and fully is strong evidence that the U.S. government is deeply and comprehensively involved in market manipulation.
If only mainstream financial news organizations and financial market analysts had the courage and integrity to pose Mooney's questions on their own behalf. Then the world might enjoy some actual financial journalism -- and the market rigging and the imperialism the rigging represents might be defeated and free and transparent markets restored along with limited and accountable government.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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