“If the CFTC discovered that the rigging of the monetary metals markets is essentially government policy, being conducted through intermediaries, then it would not be able to act against government agents.
By federal law, the Gold Exchange Act of 1934 specifically authorizes the US government to rig not only the gold market, but to rig any (financial) market surreptitiously through the Exchange Stabilization Fund. If the CFTC has discovered that market rigging is taking place because of US government policy, then according to law there is nothing to be done about it.” -Chris Powell
The Shocking Truth About Secret Documents & The CFTC
RELATED:
http://www.cftc.gov/PressRoom/PressReleases/pr6709-13
http://www.maxkeiser.com/2013/09/breaking-cftc-closes-investigation-concerning-the-silver-markets-no-viable-evidence-of-manipulation/
https://ronmamita.wordpress.com/2013/09/13/2-jp-morgan-whistleblowers-have-confessed-that-the-bank-manipulates-gold-and-silver-markets/
https://ronmamita.wordpress.com/2013/08/06/we-report-on-the-parasites/
https://ronmamita.wordpress.com/2013/08/05/finance-policy-changes-and-geopolitics/
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‘They are assuming this is a normal cyclical recovery where you go down, and then you cut rates, and then you go back up again. That is not what we have. We are in a depression. And we are going to stay in a depression until there are structural changes.’
Jim Rickards, author of the best-seller Currency Wars, sees the world’s central banks embroiled in a “race to debase” their currencies in order to restore — at any cost — growth to their weakened economies.
In the midst of the fight, the US Federal Reserve wields oversized power due to the dollar’s unique position as the global reserve currency. As a result, actions by the Fed create huge percussive ripples across the battlefield, often influencing events in ways little understood by the players — and especially by the Fed itself.
In Rickards’ words, the policymakers at the Fed “think they are dialing a thermostat up and down, but they’re actually playing with a nuclear reactor — and they could melt the whole thing down”.
READ MORE:
http://www.peakprosperity.com/podcast/82998/jim-rickards-were-witnessing-greatest-failed-experiments-economic-history
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