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Dear
Friend of GATA and Gold (and Silver):
GATA
Chairman Bill Murphy was formally invited Friday by the U.S. Commodity
Futures Trading Commission to speak at its meeting in Washington on Thursday,
March 25, to examine futures and options trading in the precious and base
metals markets.
The
CFTC's announcement of the hearing can be found here:
http://www.cftc.gov/newsroom/generalpressreleases/2010/pr5782-10.html
GATA's
appeal to the CFTC on position limits in the precious metals futures markets
can be found here:
http://www.gata.org/node/8405
The
CFTC's invitation results from GATA's long prodding of the commission to
investigate the anomalies of the precious metals markets, particularly the
concentrated short positions held by JPMorgan Chase & Co. and HSBC, and
from the prodding done by dozens of GATA supporters who have heeded GATA's
requests to contact the commission. The CFTC's hearing likely will be the
first time the gold and silver price suppression schemes have been raised at
a formal and open U.S. government proceeding.
The
CFTC says its hearing will be open to the public and broadcast via the
Internet and a listen-only conference call.
GATA
has put great effort and expense into reaching the CFTC on this issue and
into suing the Federal Reserve in federal court for information the Fed
acknowledges concealing about its gold swap agreements with foreign banks,
agreements that likely are at the heart of the gold price suppression scheme.
Information
about GATA's lawsuit can be found here:
http://www.gata.org/node/8192
We're
making good progress, actually doing things to liberate the gold and
silver markets, even as the gold mining industry's nominal representative,
the World Gold Council, remains silent about anything that really matters to
the precious metals despite its annual budget of around $60 million. So again
we ask for your financial support. Sending a small delegation to the CFTC
hearing will cost money, as will getting the attention of the news media
there. Prosecuting the lawsuit against the Fed will cost money. And quite
apart from that, much effort and expense go into keeping the precious metals
price suppression issue alive every day.
Since
they are so vulnerable to their governments (for mining and environmental
permits) and their banks (mining being the most capital-intensive business),
even mining companies that recognize the gold and silver price suppression
scheme are reluctant to support an organization such as GATA that seeks to
make trouble for governments and banks. That may explain the World Gold
Council's uselessness. For the most part that leaves our cause up to
individuals. So if you're inclined to help financially, please visit:
http://www.gata.org/node/16
We'll
strive to see that you're glad you helped.
Chris Powell
Secretary /
Treasurer
Gold Anti-Trust
Action Committee
www.GATA.org
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 www.GATA.org. GATA is grateful for financial contributions, which are
federally tax-deductible in the United States.
* * *
Support GATA by purchasing a colorful GATA T-shirt:
http://gata.org/tshirts
Or a colorful poster of GATA's full-page ad in The Wall Street
Journal on January 31, 2009:
http://www.cartserver.com/sc/cart.cgi
Or a video disc of GATA's 2005 Gold Rush 21 conference in the
Yukon:
http://www.goldrush21.com/
* * *
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:
http://www.gata.org
To contribute to GATA, please visit:
http://www.gata.org/node/16
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