You are here
Why would anyone want to suppress the price of silver?
9:22p ET Tuesday, June 8, 2004
Dear Friend of GATA and Gold:
No sooner had this official of the U.S. Commodity
Futures Trading Commission been compelled by
Ted Butler's agitation to respond to hundreds of
complaints about manipulation of the silver
market than he resigns for a private-sector job.
Makes you wonder if maybe he didn't like what
he just had to do in denying any possibility that
something might be wrong in a market the CFTC is
supposed to regulate.
Complaints about market manipulation now may
be sent to the CFTC's janitorial division.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
CFTC Announces Resignation of Michael Gorham
www.cftc.gov/opa/press04/opa4935-04.htm
CFTC Press Release
Tuesday, June 8, 2004
WASHINGTON -- The Commodity Futures Trading
Commission (CFTC) today announced the resignation
of Dr. Michael Gorham, effective June 30, 2004. Dr.
Gorham is leaving the commission to become the
director of the Center for Financial Markets at the
Illinois Institute of Technology in Chicago.
Dr. Gorham was recruited by CFTC Chairman James
E. Newsome to become the first director of the
commission's Division of Market Oversight. The
division was created as part of a 2002 restructuring
of the commission to facilitate implementation of the
Commodity Futures Modernization Act of 2000). The
division handles the designation of new markets, the
review of new futures and option products, the
monitoring for and detection of market manipulation,
and the protection of customers from market abuses.
During his tenure as director of DMO, Dr. Gorham
oversaw the designation of two new fully regulated
exchanges, U.S. Futures Exchange (EUREX US),
and HedgeStreet, the processing of eight new
exempt markets, and the review of over 450 new
futures and option contracts.
Dr. Gorham worked closely with the Federal Energy
Regulatory Commission and others on the many
complex issues arising out of the recent exceptional
volatility in the energy markets, and with the U.S.
Department of Agriculture on the market issues
arising out of the finding of BSE in both Canadian
and U.S. cattle.
Dr. Gorham, in announcing his departure, commented,
"I was extremely fortunate to have been asked to serve
at the commission during a period of dramatic industry
innovation, intense competition, and profound structural
change. I have loved this job and I will be sad to leave,
but it's time for me to return home to Chicago and to a
very exciting and challenging opportunity at the Illinois
Institute of Technology."
In accepting Dr. Gorham's resignation, Chairman
Newsome said, "While it is with much regret that I
accept Mike's resignation, I fully understand his
decision to return home to Chicago to a very exciting
opportunity. I personally recruited Mike to become
the first director of the Division of Market Oversight
because of his impressive credentials in the industry,
which he gained both as an executive at a futures
exchange and as an academic. I don't think I am
exaggerating when I say that he has exceeded every
expectation that I had. The commission's loss is the
Illinois Institute of Technology's gain. On behalf of
my fellow commissioners, I wish Mike every success in
his future endeavor."
----------------------------------------------------
To subscribe to GATA's dispatches, send an e-mail to:
gata-subscribe@yahoogroups.com
To unsubscribe, send an e-mail to:
gata-unsubscribe@yahoogroups.com
----------------------------------------------------
RECOMMENDED INTERNET SITES
FOR DAILY MONITORING OF GOLD
AND PRECIOUS METALS
NEWS AND ANALYSIS
Free sites:
http://www.cbs.marketwatch.com
http://www.capitalupdates.com/
http://www.silver-investor.com
http://www.thebulliondesk.com/
http://www.goldismoney.info/index.html
http://www.minersmanual.com/minernews.html
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html
http://www.investmentrarities.com
http://www.kuik.com/KH/KH.html
(Korelin Business Report -- audio)
http://www.plata.com.mx/plata/home.htm
(In Spanish)
http://www.plata.com.mx/plata/plata/english.htm
(In English)
Subscription site:
http://www.lemetropolecafe.com/
Eagle Ranch discussion site:
http://os2eagle.net/checksum.htm
Ted Butler silver commentary archive:
http://www.investmentrarities.com/
----------------------------------------------------
COIN AND PRECIOUS METALS DEALERS
WHO HAVE SUPPORTED GATA
AND BEEN RECOMMENDED
BY OUR MEMBERS
Blanchard & Co. Inc.
909 Poydras St., Suite 1900
New Orleans, Louisiana 70112
888-413-4653
http://www.blanchardonline.com
Centennial Precious Metals
3033 East 1st Ave., Suite 403
Denver, Colorado 80206
www.USAGold.com
Michael Kosares, Proprietor
US (800) 869-5115
Canada 1-800-294-9462
European Union 00-800-2760-2760
Australia 0011-800-2760-2760
cpm@usagold.com
Colorado Gold
222 South 5th St.
Montrose, Colorado 81401
www.ColoradoGold.com
Don Stott, Proprietor
1-888-786-8822
Gold@gwe.net
El Dorado Discount Gold
Box 11296
Glendale, Arizona 85316
http://www.eldoradogold.net
Harvey Gordin, President
Office: 623-434-3322
Mobile: 602-228-8203
harvey@eldoradogold.net
Investment Rarities Inc.
7850 Metro Parkway
Minneapolis, Minnesota 55425
http://www.gloomdoom.com
Greg Westgaard, Sales Manager
1-800-328-1860, Ext. 8889
gwestgaard@investmentrarities.com
Kitco
178 West Service Road
Champlain, N.Y. 12919
Toll Free:1-877-775-4826
Fax: 518-298-3457
and
620 Cathcart, Suite 900
Montreal, Quebec H3B 1M1
Canada
Toll-free:1-800-363-7053
Fax: 514-875-6484
http://www.kitco.com
Lee Certified Coins
P.O. Box 1045
454 Daniel Webster Highway
Merrimack, New Hampshire 03054
www.certifiedcoins.com
Ed Lee, Proprietor
1-800-835-6000
leecoins@aol.com
Miles Franklin Ltd.
3015 Ottawa Ave. South
St. Louis Park, Minn. 55416
1-800-822-8080 / 952-929-1129
fax: 952-925-0143
http://www.milesfranklin.com
Contacts: David Schectman,
Andy Schectman, and Bob Sichel
Missouri Coin Co.
11742 Manchester Road
St. Louis, MO 63131-4614
info@mocoin.com
314-965-9797
1-800-280-9797
http://www.mocoin.com
Resource Consultants Inc.
6139 South Rural Road
Suite 103
Tempe, Arizona 85283-2929
Pat Gorman, Proprietor
1-800-494-4149, 480-820-5877
Metalguys@aol.com
Swiss America Trading Corp.
15018 North Tatum Blvd.
Phoenix, Arizona 85032
http://www.swissamerica.com
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
FiGoldstein@swissamerica.com
----------------------------------------------------
HOW TO HELP GATA
If you benefit from GATA's dispatches, please
consider making a financial contribution to
GATA. We welcome contributions as follows.
By check:
Gold Anti-Trust Action Committee Inc.
c/o Chris Powell, Secretary/Treasurer
7 Villa Louisa Road
Manchester, CT 06043-7541
USA
By credit card (MasterCard, Visa, and
Discover) over the Internet:
http://www.gata.org/creditcard.html
By GoldMoney:
http://www.GoldMoney.com
Gold Anti-Trust Action Committee Inc.
Holding number 50-08-58-L
Donors of $750 or more will, upon request,
be sent a print of Alain Despert's colorful
painting symbolizing our cause, titled "GATA."
GATA is a civil rights and educational
organization under the U.S. Internal Revenue
Code and contributions to it are tax-deductible
in the United States.
