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GATA asks CFTC if market rigging by U.S. govt. is legal
12:56p ET Friday, September 21, 2018
Dear Friend of GATA and Gold:
The U.S. Commodity Futures Trading Commission this week announced it has imposed penalties on two futures traders for attempting to manipulate the gold market and other markets with "spoofing" trades:
https://www.cftc.gov/PressRoom/PressReleases/7797-18
https://www.cftc.gov/PressRoom/PressReleases/7796-18
In response, GATA is asking the commission whether its jurisdiction covers futures market manipulation by the U.S. government or brokers acting for the U.S. government, or whether such manipulation is authorized by law, like the Gold Reserve Act of 1934 as amended in the 1970s, which established the U.S. Treasury Department's Exchange Stabilization Fund:
https://www.treasury.gov/resource-center/international/ESF/Pages/esf-ind...
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The letter containing GATA's inquiry to the CFTC is posted in PDF format here:
http://www.gata.org/files/GATALetterCFTC-09-21-2018.pdf
U.S. citizens can assist this endeavor by asking their members of Congress to urge the CFTC to reply promptly to GATA's inquiry.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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