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GATA - Gold Anti-Trust Action Committee
Manchester, Conn.
givvers: jason

The Gold Anti-Trust Action Committee was organized in January 1999 to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities. The committee arose from essays by Bill Murphy, a financial commentator, and by Chris Powell, a newspaper editor in Connecticut, published at Murphy’s Internet site, www.lemetropolecafe.com.

GATA - Gold Anti-Trust Action Committee is not verified as a 501(c)3 organization.

Latest News

Jun 30, 2015

10:56p ET Monday, June 25, 2015

Dear Friend of GATA and Gold:

Citing the latest quarterly report of the U.S. Office of the Comptroller of the Currency, Zero Hedge concludes tonight that JPMorganChase has "cornered the commodity derivative market," the notional value of the investment bank's commodity derivative position having just exploded from around $200 billion to nearly $4 trillion.

The OCC report, Zero Hedge adds, has ceased distinguishing gold derivatives from foreign exchange derivatives, but the combined total of gold and FX derivatives held by investment banks is shown to have exploded as well.

... Dispatch continues below ...



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Zero Hedge's analysis is headlined "JPMorgan Just Cornered the Commodity Derivative Market, and This Time There Is Proof" and it's posted here:

http://www.zerohedge.com/news/2015-06-29/jpm-just-cornered-commodity-der...

Your secretary/treasurer is, of course, inclined to construe this astounding anomaly as comprehensive intervention in the markets by the U.S. government using Morgan as its broker, since it's unlikely that a single investment bank would have the wherewithal to establish such fantastic positions on its own. The OCC report may mean that, with the fiat currency system cracking under the weight of years of abuse, the U.S. government has felt compelled to seize emergency control of all markets to bolt the exits from the system, gold being the primary exit, and to forestall hyperinflation.

This would signify the government's belief that only totalitarian means -- "financial repression" squared -- can sustain the system now.

Venezuela already has shortages and rationing. Today Greece got capital controls, if indeed there is any capital left there. But before Americans snicker too much at those troubled countries, they should ponder the meaning of their country's huge trade deficit, a privilege of issuance of the world reserve currency, a currency that is in effect a great tax on the world, a tax that, if Zero Hedge gets the OCC report right, now encompasses the destruction of all markets worldwide.

Immoral as it would be, it's almost certainly all legal under the Gold Reserve Act of 1934 as amended in the 1970s --

http://www.treasury.gov/resource-center/international/ESF/Pages/esf-inde...

-- the Trading with the Enemy Act of 1917, and the International Emergency Economic Powers Act of 1977:

http://www.gata.org/node/5606

It just hasn't been conducted in the open yet. But maybe with the OCC report we're almost there, and pushing this totalitarianism into the open is probably the best we can hope for.

Of course the Financial Times, Wall Street Journal, and the other mainstream financial news organizations will report it only to rationalize it and make excuses for it, whereupon they will sound a bit like the old Daily Worker. Barron's may have a little more trouble with it. But they're all going to look pretty silly -- not that they care.

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

* * *

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2015

http://noic2015.eventbrite.com/?aff=gata

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or 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://gata.org/node/wallstreetjournal

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

Jun 29, 2015

By Kevin Crowley
Bloomberg News
Monday, June 29, 2015

South African gold-mining companies tabled a five-year wage offer to the industry's unions that falls short of demands for increases of more than 80 percent.

AngloGold Ashanti Ltd., the world's third-biggest producer of the metal, offered to raise entry-level workers' pay by 13 percent annually starting July 1, while Sibanye Gold Ltd. and Harmony Gold Mining Co. proposed 11 percent and 7.8 percent respectively, they said in a joint statement on a website set up for the wage talks.

The National Union of Mineworkers, the industry's biggest labor group, wants basic pay to be raised to at least 10,500 rand ($854) monthly from about 5,700 rand now. The inflation rate was 4.6 percent in May. ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2015-06-29/south-africa-s-gold-pr...



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Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2015

http://noic2015.eventbrite.com/?aff=gata

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or 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://gata.org/node/wallstreetjournal

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

Jun 29, 2015

11:53a ET Monday, June 29, 2015

Dear Friend of GATA and Gold:

Gold researcher and GATA consultant Koos Jansen today provides an English translation of a report about China's plan for the Silk Road Gold Fund, whose aim is "bringing gold's superiority into play." Jansen's commentary is headlined "Gold Fund to Serve the New Strategy of the Silk Road, Lead the New Gold Development" and it's posted at Bullion Star here:

https://www.bullionstar.com/blogs/koos-jansen/gold-fund-to-serve-the-new...

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



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Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2015

http://noic2015.eventbrite.com/?aff=gata

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or 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://gata.org/node/wallstreetjournal

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

Jun 29, 2015

11:47a ET Monday, June 29, 2015

Dear Friend of GATA and Gold:

GoldMoney head of research Alasdair Macleod writes today that Greece's acknowledgment of bankruptcy puts the solvency of the European Central Bank in doubt as well. He concludes with an observation about gold's prospects against continued central bank intervention. Macleod's commentary is headlined "The Euro Crisis" and it's posted at GoldMoney here:

https://www.goldmoney.com/research/analysis/the-euro-crisis?gmrefcode=ga...

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



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Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2015

http://noic2015.eventbrite.com/?aff=gata

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or 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://gata.org/node/wallstreetjournal

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

Jun 29, 2015

Don't Panic -- The Fed Is Control of the Markets

By Dave Kranzler
Investment Research Dynamics
Monday, June 29, 2015

If today's market action does not convince the last skeptics that the U.S. financial markets are completely rigged, nothing will.

The action in the U.S. markets today after the Greece/EU situation hit a wall today demonstrates the degree of control the Fed and the U.S. central planners have over the markets now. ...

Ever since 1987, and since President Reagan signed the executive order that authorized the Plunge Protection Team to prop up the stock markets, there's been market intervention "creep" in this country. Robert Rubin's role as secretary of treasury was to transition the Working Group on Financial Markets from its stock market-propping function into a full-fledged, all-encompassing market intervention mechanism. ...

... For the full commentary:

http://investmentresearchdynamics.com/dont-panic-the-fed-is-control-of-t...



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Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2015

http://noic2015.eventbrite.com/?aff=gata

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or 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://gata.org/node/wallstreetjournal

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

Jun 29, 2015

10:56a ET Monday, June 29, 2015

Dear Friend of GATA and Gold:

No one who has followed GATA for a while could have thought last night, as Greece collapsed financially and the foundations of the European Union and its currency were shaken, that gold would do anything but decline or be held steady under surreptitious central bank intervention in the markets.

But at least today's price action, the most anomalous since the otherwise inexplicable smashes down in April 2013, may awaken a few of the more oblivious analysts who purport to cover the gold market.

... Dispatch continues below ...



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A couple of old observations on this point may be worth revisiting today.

At GATA's Gold Rush 21 conference in Dawson City, Yukon Territory, in August 2005, the late South African investment adviser Peter George said: "For the last 10 years the central banks have effectively shown that when there's a real crisis, gold actually goes down, and then it's so blatant, it's a joke."

George's comment is preserved on video at the 38-second mark in the top frame here:

http://gata.org/node/20

And as your secretary/treasurer has remarked for years, as he did again two years ago --

http://gata.org/node/12994

-- "War and the threat of war ... actually send the gold price down because they prompt even more intervention by central banks. Indeed, if the Northern Hemisphere was destroyed in a nuclear war, the U.S. Exchange Stabilization Fund would sell enough futures contracts in Johannesburg, Sydney, and Rio de Janeiro to knock the gold price down by 25 percent; CPM Group's Jeff Christian would attribute the crash to new hedging by mining companies expecting further declines in price, though the war had brought mine production to an end in the Northern Hemisphere; and what remained of the mainstream financial news media would quote Christian without putting a critical question to him or to any central bank. (Actual journalism is never attempted in regard to gold.)"

Zero Hedge today remarks acidly on this phenomenon in an item headlined "Gold Tumbles Despite UK Mint Seeing Europeans Rush to Buy Bullion":

http://www.zerohedge.com/news/2015-06-29/gold-tumbles-despite-uk-mint-se...

If you know anyone in the monetary metals business or financial news media who doubts this or doesn't understand it, you can send him GATA's summary of the purposes, history, and documentation of the Western central bank gold price suppression scheme:

http://www.gata.org/node/14839

And if you're invested in monetary metals mining companies that fail to acknowledge this scheme and agitate against it -- that is, most mining companies -- you might ask yourself why.

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

* * *

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2015

http://noic2015.eventbrite.com/?aff=gata

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or 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://gata.org/node/wallstreetjournal

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

Jun 28, 2015

7p ET Sunday, June 28, 2015

Dear Friend of GATA and Gold:

The TF Metals Report's Turd Ferguson tonight powerfully echoes a point long made by silver market rigging whistleblower Ted Butler: that the monetary metals futures markets have been captured by naked short-selling speculators and completely perverted to destroy price discovery in the markets they are supposed to be serving.

Ferguson asks why this is allowed to continue. GATA answers that question with extensive documentation here:

http://www.gata.org/node/14839

But back in 2001 the British economist Peter Warburton figured it all out in principle long before anybody else did:

http://www.gata.org/node/8303

Where does it all end?

In his novel "1984," written in 1949, George Orwell wrote that it wouldn't end. "If you want a picture of the future," Orwell wrote, "imagine a boot stamping on a human face -- forever."

But somehow much of the world has held on for three decades longer than Orwell thought possible. Dissent survives, and Ferguson's -- headlined "The Criminality of the Comex" -- is posted at the TF Metals Report here:

http://www.tfmetalsreport.com/blog/6952/criminality-comex

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



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Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2015

http://noic2015.eventbrite.com/?aff=gata

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or 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://gata.org/node/wallstreetjournal

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

Jun 28, 2015

By Lefteris Papadimas and John O'Donnell
Reuters
Sunday, June 28, 2015

Greece's banks and stock exchange will be shut on Monday after creditors refused to extend the country's bailout and savers queued to withdraw cash, taking Athens' standoff with the European Union and the International Monetary Fund to a dangerous new level. ...

The head of Piraeus Bank, one of Greece's top four banks, speaking after a meeting of the country's financial stability council, said banks would be shut on Monday while a financial industry source told Reuters the Athens stock exchange would not open.

... For the remainder of the report:

http://www.reuters.com/article/2015/06/28/us-eurozone-greece-idUSKBN0P40...



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Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Wednesday-Saturday, October 28-31, 2015

http://noic2015.eventbrite.com/?aff=gata

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or 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://gata.org/node/wallstreetjournal

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