Congressman Tells CFTC To Reply Questions On Gold & Silver Market Rigging

"Gold and silver are actual cash, and the CFTC has the duty to denounce and punish those that search to secretly manipulate its worth."

of Chris Powell of the Anti-Belief Motion Committee for Gold ( GATA ])

Tuesday, February 5, 2019

WASHINGTON – A member of the American Monetary Providers Committee of the American Home in the present day referred to as on the Commodities Futures Buying and selling Fee to its flagrant incapability to disclose the manipulations of the cash market, at present being pursued by the US Division of Justice.

In a letter of approval dated in the present day addressed to the President of the CFTC, J. Christopher Giancarlo, representing Alex X. Mooney, R-West Virginia, writes:

"America Division of Justice has obtained a responsible plea from a former commodities dealer for JPMorganChase & Co. in reference to prices of manipulating markets in america. gold and silver between 2009 and 2015, and its investigation of associated social gathering actions is ongoing.

"The interval in query considerably overlaps the time throughout which your fee was investigating cash market manipulation complaints – from 2008 to 2013. Nevertheless, in 2013, the fee introduced that it had closed his investigation with out discovering any wrongdoing.

"Why has the fee failed to search out the reprehensible act that the Justice Division has confirmed and continues to analyze? As well as, will the fee now reopen its investigation into the manipulation of the cash market and open an investigation into the manipulation of the gold market? If not, why not? "

In the meantime, Consultant Mooney questions the CFTC's latest refusal to reply questions from a non-profit watchdog group referred to as the GTA, the Gold Anti-Belief Motion Committee (GATA) on Authorities Interventions within the Gold and Silver Markets:

Dem. Mooney's letter asks the CFTC for solutions on its obvious declaration discrepancies, the bizarre correlation between the Chinese language yuan and the value of gold, and whether or not the CFTC believes it has jurisdiction over the transactions within the Chinese language market. or by the US authorities or overseas governments.

"Congressman Mooney understands that lack of transparency in gold and silver markets not solely undermines confidence, but additionally permits governments and highly effective monetary pursuits to control currencies and the value of belongings to the detriment of People, "stated Jp Cortez, political director for the Sound Cash Protection League.

"Gold and silver are actual cash, and the CFTC has the duty to denounce and punish those that search to secretly manipulate its worth."

Dem. Mooney's letter to CFTC President J. Christopher Giancarlo may be discovered right here:

The Sound Cash Protection League is a nationwide public coverage group working to deliver again gold and silver as American constitutional cash. The group additionally retains the Sound Cash index of America.

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