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Is the Fed behind the stock market and commodity crashes?
5:32p ET Thursday, August 27, 2015
Dear Friend of GATA and Gold:
Suspicion is growing that the Federal Reserve is behind the crash of the stock market as well as the crash of the commodity market.
Financial writer Charles Hugh Smith, in commentary reposted at Zero Hedge yesterday, headlined his analysis "What If the Crash Is as Rigged as Everything Else?":
http://charleshughsmith.blogspot.com/2015/08/what-if-crash-is-as-rigged-...
Today Leonard Brecken of Oilprice.com asks, "Did the Fed Intentionally Spark a Commodity Selloff?":
http://oilprice.com/Energy/Energy-General/Did-The-Fed-Intentionally-Spar...
Of course back in 2001 the British economist Peter Warburton, in his essay "The Debasement of World Currency: It Is Inflation But Not as We Know It," wrote that Western central banks were using their investment bank agents and derivatives to suppress commodity prices generally to prevent commodities from being used as hedges against monetary inflation:
And last year it was disclosed by filings at the U.S. Commodity Futures Trading Commission and Securities and Exchange Commission that CME Group, operator of the major futures exchanges in the United States, offers secret futures trading accounts and discounts to central banks and governments and considers central banks and governments to be among its major customers:
http://www.gata.org/node/14385
http://www.gata.org/node/14411
These are matters financial journalism would pursue if it existed in the West.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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