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Gene Arensberg: Silver sucker-punched by two U.S. banks

Section: Daily Dispatches

10:48a ET Monday, August 25, 2008

Dear Friend of GATA and Gold:

Resource Investor today posted a special "Got Gold Report" by Gene Arensberg in which he credits silver market analyst Ted Butler for exposing the recent vast downward manipulation of the silver market by two unidentified U.S. banks. Arensberg expects the Commodity Futures Trading Commission to take action against these banks. He writes:

"It will not be surprising at all if we learn that these two U.S. banks are taken to task by regulators for their actions. It will be even less surprising to learn that they have become the target of multi-billion-dollar class-action lawsuits by hungry lawyers representing silver investors everywhere."

Maybe U.S. financial market regulators will do their job right for once, but we'd find it easier to believe in the tooth fairy.

You can find Arensberg's commentary, headlined "Silver Investors Sucker-Punched by Two U.S. Banks," complete with some nice charts, at Resource Investor here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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