GATA Meets with CFTC

gata-ad-01-29-2008_smBill Murphy, chairman of GATA (Gold Anti Trust Action Committee), has sent out an update on his meeting with the head of the CFTC, supposed watchdog over market manipulations.

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.

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. [more]

GATA 2 March On D.C.
EZ Way 2 Tell If Obama Will B Different (this latest move reinforces my view he ain’t)


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: