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Christian Garcia: U.S. Mint hedges silver purchases with HSBC and JPM

Section: Documentation

8:16p ET Tuesday, September 10, 2013

Dear Friend of GATA and Gold:

Christian Garcia of, who last year publicized the report from the South Carolina state treasurer's office that cited "artificial price suppression" in the gold and silver markets --

-- today discloses evidence that the U.S. Mint hedges its silver purchases with bullion banks HSBC and JPMorganChase, giving them valuable and tradeable inside information about metal demand and giving JPMorganChase cover for its assertions that its involvement in the monetary metals markets is entirely a matter of managing client accounts rather than the bank's own.

Of course GATA long has taken JPMorganChase at its word in this, believing that the bank's primary client in the monetary metals markets indeed has been the U.S. government.

Garcia presents his evidence, drawn largely from the U.S. Mint's own annual reports, in a video interview with proprietor Mike Maloney posted here --

-- and at GoldSeek's companion site, SilverSeek, here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


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