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About 45 minutes before I was to
leave for my meeting with Commissioner Bart Chilton of the U.S. Commodity
Futures Trading Commission, this news hit the tape:
"Obama to appoint Gary Gensler
to lead Commodities Futures Trading Commission -- AP."
Gensler is a former undersecretary of
the treasury and assistant secretary of the treasury.
Gensler is a Goldman Sachs alum and
a Treasury man. Obama is putting one of the key figures in the Gold Cartel
scheme into the top role at the CFTC. Talk about the fox guarding the
henhouse! But the bad news might be good news.
My meeting with Chilton went on as
scheduled and lasted about 50 minutes. The surprise was that three others
from the CFTC staff attended, including the deputy general counsel. One of
the other staffers had already viewed the video of GATA's Gold Rush 21
conference.
Chilton listened intently, took
notes, as did one of the others, and asked many questions. I laid out GATA's
presentation. I am not going to get into all the details, as we will see what
takes place in the months to come. But I chuckled when telling them that if
they really wanted to comprehend what the gold price suppression scheme is
all about, all they have to do is go to their new chairman -- at the right
time. No one knows what is going on better than he does.
I did not hold back. I said the main
culprit of the Gold Cartel was our own government, which has been in league
with bullion banks like JPMorganChase.
Naturally, I drew parallels to the
Madoff scandal and how the Securities and Exchange Commission ignored nine
years' worth of probable cause to suspect a Ponzi scheme. I also laid out how
and why what is occurring in gold and silver could lead to a much bigger
scandal if the price suppression scheme is not stopped -- and that is because
the Gold Cartel is running out of the gold needed to meet the growing annual
deficit between supply and demand.
I was very impressed with Chilton,
and he said my trip to Washington would not be in vain.
There are two things for sure. First,
as in the Madoff scandal, no one can say the powers that be didn't get the
scoop, the facts about the gold price suppression scheme -- what has happened
and why. And second, if there is one person in Washington who will try to get
to the truth about gold, this is the man.
* * *
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Bill Murphy
Chairman
Gold Anti-Trust Action Committee
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