Chris Powell, Treasurer and Secretary of the Gold Anti-Trust Action Committee (GATA), has been trying to get the U.S. government to come clean about massive market manipulations. GATA says they have hit a stone wall of silence. Powell concludes, “Presumably, the U.S. Treasury is secretly trading in any number of markets and refuses to say which markets they are. . . . I heard a U.S. Assistant Attorney move for a Summary Judgement dismissal of our lawsuit saying, without admitting the U.S. government was rigging the markets as we complained in our lawsuit, the U.S. government does claim the power to do what our lawsuit complained of, and that was to secretly rig the markets. I think we have established this now to the satisfaction of any reasonable person . . . . Especially since the CME Group, which operates the major futures exchanges in the United States, has just renewed what it calls its central bank incentive program, which gives enormous volume trading discounts to governments and central banks for surreptitiously trading all the futures markets. . . . So, we know the CME group has created mechanisms for secret trading by the U.S. government and other governments to get discounts in all of the futures trading in the United States.”
In closing, Powell reminds us, “At some point, manipulations do fail . . . . Manipulations only work because of deception.”
Powell contends that global financial powers are trying to suppress inflation through the manipulation of all futures and commodities, but it’s not working.