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Two new precious metals-oriented Internet sites
"Conspiracies rarely exist."
-- Dennis Gartman
in The Gartman Letter,
September 14, 2004
* * *
Statement by the U.S. Commodity Futures Trading Commission
Thursday, November 4, 2004
http://www.cftc.gov/opa/enf04/opa5018-04.htm
WASHINGTON -- The U.S. Commodity Futures Trading
Commission (CFTC) today announced the filing and
simultaneous settlement of charges against BP
Energy Co., an indirect wholly owned subsidiary
of BP America Inc., for engaging in illegal wash
trading on an electronic trading platform.
The CFTC order, issued on November 4, 2004, finds
that on six occasions between April and June 2000,
a former trader for BP Energy executed prearranged
trades for electricity contracts at identical
prices. On each occasion, according to the order,
the BP Energy trader and the counterparty trader
prearranged the wash sales over the telephone.
They agreed to execute one buy or sell on an
electronic trading platform and to execute the
opposite buy or sell over the telephone, thus
offsetting the initial trade on the trading
platform, the order finds. The order also finds
that these trades resulted in a financial nullity.
According to the findings in the order, BP Energy
violated the prohibition against illegal wash
sales as contained in the Commodity Exchange Act
(CEA). The order further finds that because BP
Energy caused prices to be recorded on the
electronic trading platform that were not true
and bona fide, the transactions resulted in the
reporting of non-bona fide prices. BP Energy's
internal control culture failed to prevent the
execution of the wash sales, according to the
order's findings.
The order directs BP Energy to cease and desist
from further violations of specified provisions
of the CEA, pay a $100,000 civil penalty, and
comply with specified undertakings, including
an undertaking by BP Energy and BP America to
provide future cooperation to the commission
in its ongoing investigations and litigation
of related matters.
In consenting to the entry of the CFTC order,
BP Energy neither admitted nor denied the
findings made in the order.
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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)
http://www.resourceinvestor.com/
Subscription site:
http://www.lemetropolecafe.com/
Eagle Ranch discussion site:
http://os2eagle.net/checksum.htm
Ted Butler silver commentary archive:
http://www.investmentrarities.com/
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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
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