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Bank of England denies secret futures trading on CME Group exchanges in U.S.
11a ET Tuesday, February 24, 2015
Dear Friend of GATA and Gold:
Bank of England Governor Mark Carney today told the Treasury Committee of the House of Commons that the bank is not participating in CME Group's program by which central banks receive discounts for their secret trading in all major U.S. futures markets.
The CME Group's "central bank incentive program" is described here:
http://www.gata.org/node/14385
http://www.gata.org/node/14411
http://www.gata.org/node/14818
Carney's denial came in response to a question from committee member Steve Baker, Conservative for Wycombe in England.
The exchange can be viewed at the 11:38:50 mark of the video of the hearing at Parliament's Internet site here:
http://www.parliamentlive.tv/Main/Player.aspx?meetingId=17350
While no mainstream financial news organizations will question central banks about their secret trading in the markets, at least the issue seems to have come to the attention of some elected officials in Britain.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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