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Gene Arensberg: CFTC's exemptions to position limits are the problem
2:47p ET Monday, March 22, 2010
Dear Friend of GATA and Gold (and Silver):
Gene Arensberg, who writes the weekly "Got Gold Report" for Brien Lundin's Gold Newsletter (www.GoldNewsletter.com), has written an open letter to the U.S. Commodity Futures Trading Commission for consideration at its hearing this week on futures and options trading in the precious metals. Arensberg argues that the crucial issue in the manipulation of those markets is not the oft-discussed position limits but rather the exemptions to those limits that are routinely granted by the commission and commodity exchanges. Arensberg's letter is headlined "Letter to CFTC on Position Limits for Gold, Silver" and you can find it at Stockhouse here:
http://www.stockhouse.com/Columnists/2010/March/22/Got-Gold-Report--Lett...
Or try this abbreviated link:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
Prophecy Resource Corp. Appoints Rob McEwen to Advisory Board
Prophecy Resource Corp. (TSX.V: PCY, OTC: PCYRF) is pleased to announce the appointment of Rob McEwen to the company's Advisory Board. McEwen is a leading Canadian mining industry entrepreneur. He is the chairman and CEO of U.S. Gold Corp. and Minera Andes Inc. McEwen was the founder and former chairman and CEO of Goldcorp Inc., whose Red Lake Mine in northwestern Ontario, Canada, is considered to be the richest gold mine in the world. During his tenure at Goldcorp, McEwen transformed the company from a collection of small companies into a mining powerhouse, growing its market capitalization from $50 million to approximately $8 billion.
For Prophecy Resource Corp.'s complete statement:
http://www.prophecyresource.com/news_2010_mar11b.php
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