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Brien Lundin: Sometimes the little guy does win
Excerpted from Gold Newsletter, Alert 570
By Brien Lundin
Tuesday, May 11, 2010
http://www.goldnewsletter.com/
Silver, in particular, holds explosive potential right now. On Friday, the metal shot up 73 cents (4.13 percent) for no apparent reason. But the cause may have surfaced over the weekend, with a news story in the New York Post that the Commodity Futures Trading Commission and the Justice Department were opening civil and criminal investigations into possible manipulation of the silver market by JPMorgan Chase.
This was blockbuster news, with huge implications. Short-term, it may have prompted a short-covering rally in silver last Friday. Longer-term, it may force JPM and other major silver shorts into covering their positions ... which could very quickly force silver far higher.
There's another thing this tells us: Sometimes the little guy does win. Our good friends at GATA (the Gold Anti-Trust Action Committee), particularly Chris Powell and Bill Murphy, have worked tirelessly for over 11 years now, trying to draw attention to the manipulative activities of bullion banks and their governmental overseers in the gold and silver markets.
They deserve the undying thanks of every precious metals and mining stock investor for their unflagging dedication to the cause. They've worked hard for this ... and now the payoff may be near.
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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
Support GATA by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal
Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:
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Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
http://www.gata.org/node/16
Coming Friday-Sunday, June 11-13, at the Dallas-Fort Worth Airport Marriot:
The Anglo Far-East Bullion Co.'s Gold and Silver Conference
The conference will explore the dangers and opportunities in today's bullion markets and the need for investors to diversify bullion holdings outside of bullion banking and commodities markets. Speakers will include David Morgan of Silver-Investor.com, Gold Anti-Trust Action Committee Chairman Bill Murphy, and Duncan Cameron and Philip Judge of Anglo Far-East Bullion Co. The earliest conference attendees on Saturday will be able to schedule one-on-one interviews for personal consultation with Anglo-Far East's experts on Sunday.
To learn more about and register for the Anglo Far-East Bullion conference, please visit:
http://www.anglofareast.com/seminar-registration/
