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GATA - Gold Anti-Trust Action Committee
Manchester, Conn.

The Gold Anti-Trust Action Committee was organized in January 1999 to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities. The committee arose from essays by Bill Murphy, a financial commentator, and by Chris Powell, a newspaper editor in Connecticut, published at Murphy’s Internet site, www.lemetropolecafe.com.

GATA - Gold Anti-Trust Action Committee is not verified as a 501(c)3 organization.

Latest News

Jan 17, 2018

By Dave Kranzler
Investment Research Dynamics, Denver
Wednesday, January 17, 2018

Usually I'm loathe to stick out price targets on the markets, especially gold and silver, because of the undeniable market intervention of the central banks -- market manipulation that is so blatant now that it is denied only by card-carrying idiots.

Gold and silver had a sharp run-up in the last two weeks of 2017. But the abrupt move in gold was accompanied by a rapid rise in the gold futures open interest on the Comex. The "commercial" net short position in Comex gold futures -- that is, the position of "the banks -- has increased by 100,000 contracts (from 120,000 net short to 220,000 net short) in just four weeks through the most recent commitment-of-traders report. That's a net paper gold short of 22 million ounces, or 623 tonnes of paper sold short.

As of yesterday the open interest in gold futures increased another 27,000 contracts, most of which, based on the trend in the COT positions, can be attributed to a continued increase in bank short interest.

To put this paper gold short position in perspective, the Comex reports that its warehouses "safekeep" 9.2 million ounces of gold. (This number is unaudited.) That's 11 million ounces less than the bank net short position. However, only 586,000 ounces of gold are reported to be "registered," or available for delivery. The ratio of the paper gold short to deliverable gold is 37:1.

In other words, each ounce of deliverable gold has been "hypothecated" and resold 37 times. ...

... For the remainder of the commentary:

http://investmentresearchdynamics.com/2018-should-be-bullish-for-the-pre...



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Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 21-22, 2018
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
https://cambridgehouse.com/e/vancouver-resource-investment-conference-20...

GATA Reception
Lions Pub
888 West Cordova St., Vancouver, British Columbia, Canada
5-7 p.m. Monday, January 22, 2018

Mining Investment Asia
Monday-Wednesday, March 26-28, 2018
Marina Bay Sands, Singapore
https://www.mininginvestmentasia.com/

Mines and Money Asia
Tuesday-Friday, April 3-6, 2017
Hong Kong Convention and Exhibition Centre
https://asia.minesandmoney.com/

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Jan 17, 2018

All they have to do is rig gold down some more.

* * *

By Roger Blitz
Financial Times
Wednesday, January 17, 2018

The persistent weakness of the U.S. dollar is forcing global central bankers to step up their efforts in warning about the cost of currency appreciation on their economies.

The dollar's decline has extended into 2018, with the index measuring the currency against its leading peers touching a three-year low. The decline in the global reserve currency matters greatly for other economies that have rebounded thanks to stronger exports, such as Europe and Japan.

The euro, which rose by as much as 2.7 percent since the start of the year, dropped sharply from an intraday high of $1.2322 today after Vitor Constancio, European Central Bank vice president, became the latest policymaker to take issue with the single currency's sharp rise against the dollar.

"I am concerned about sudden movements [in the euro] which don't reflect changes in fundamentals," he said.

Ewald Nowotny, fellow ECB member, added that the euro’s rise was "not helpful." The euro was trading 0.4 percent lower today. ...

... For the remainder of the report:

https://www.ft.com/content/23dbe094-fb79-11e7-9b32-d7d59aace167



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Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 21-22, 2018
Vancouver Convention Centre West
Vancouver, British Columbia, Canada

https://cambridgehouse.com/e/vancouver-resource-investment-conference-20...

GATA Reception
Lions Pub
888 West Cordova St., Vancouver, British Columbia, Canada
5-7 p.m. Monday, January 22, 2018

Mining Investment Asia
Monday-Wednesday, March 26-28, 2018
Marina Bay Sands, Singapore
https://www.mininginvestmentasia.com/

Mines and Money Asia
Tuesday-Friday, April 3-6, 2017
Hong Kong Convention and Exhibition Centre
https://asia.minesandmoney.com/

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Jan 17, 2018

7:23p ET Tuesday, January 16, 2018

Dear Friend of GATA and Gold:

GATA Chairman Bill Murphy, interviewed by Ken Ameduri for Crush The Street, says the monetary metals are holding up well against the intensifying campaign to keep them down, but he admits that the rise of cryptocurrencies has been taking some interest away from the metals. The interview is 13 minutes long and can be heard at Crush The Street here:

https://crushthestreet.com/videos/live-interviews/precious-metals-suppre...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[email protected]



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Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 21-22, 2018
Vancouver Convention Centre West
Vancouver, British Columbia, Canada

https://cambridgehouse.com/e/vancouver-resource-investment-conference-20...

GATA Reception
Lions Pub
888 West Cordova St., Vancouver, British Columbia, Canada
5-7 p.m. Monday, January 22, 2018

Mining Investment Asia
Monday-Wednesday, March 26-28, 2018
Marina Bay Sands, Singapore
https://www.mininginvestmentasia.com/

Mines and Money Asia
Tuesday-Friday, April 3-6, 2017
Hong Kong Convention and Exhibition Centre
https://asia.minesandmoney.com/

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Jan 16, 2018

From Bloomberg News
Monday, January 15, 2018

China is escalating its clampdown on cryptocurrency trading, targeting online platforms and mobile apps that offer exchange-like services, according to people familiar with the matter.

While authorities banned cryptocurrency exchanges last year, they have recently noted an uptick in activity on alternative venues. The government plans to block domestic access to homegrown and offshore platforms that enable centralized trading, the people said, without being more specific about how policy makers define such platforms.

Authorities will also target individuals and companies that provide market-making, settlement, and clearing services for centralized trading, the people said, asking not to be named because the information is private. Small peer-to-peer transactions are not being targeted, they said. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2018-01-15/china-is-said-to-esca...



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Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 21-22, 2018
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
https://cambridgehouse.com/e/vancouver-resource-investment-conference-20...

GATA Reception
Lions Pub
888 West Cordova St., Vancouver, British Columbia, Canada
5-7 p.m. Monday, January 22, 2018

Mining Investment Asia
Monday-Wednesday, March 26-28, 2018
Marina Bay Sands, Singapore
https://www.mininginvestmentasia.com/

Mines and Money Asia
Tuesday-Friday, April 3-6, 2017
Hong Kong Convention and Exhibition Centre
https://asia.minesandmoney.com/

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Jan 15, 2018

By Ben McLannahan
Financial Times, London
Monday, January 15, 2018

A cluster of big banks has been named in a new lawsuit alleging manipulation of a key benchmark lending rate in Canada, opening up a new front in a global scandal that has led to billions of dollars in fines and penalties.

The plaintiff, the Fire and Police Pension Association of Colorado, is accusing nine banks of colluding over a period of about seven years in the manipulation of the Canadian Dealer Offered Rate (CDOR), in order to boost profits for their derivatives trading businesses.

... Dispatch continues below ...



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CDOR, a benchmark created by the Canadian Bankers' Association, is supposed to reflect the cost of borrowing Canadian dollars in North America, according to the lawsuit, which was filed last Friday in the southern district of New York. 

Instead, the suit claims, the banks conspired to "suppress" CDOR by making artificially low submissions that did not reflect the actual rates at which they were lending.

On "hundreds" of days during the period in question, the suit adds, the banks' submissions were identical, suggesting a pattern of collusion through electronic message platforms, phones, and emails.

By lowballing submissions, the banks stood to make more money from their derivatives businesses, from which they "aggressively" marketed and sold interest-rate swaps, forward-rate agreements, and other CDOR-based products to pension funds, hedge funds, and companies in North America. The lower the CDOR rate, the less interest the banks would owe on such positions. At their peak, the derivatives books were about 50 times bigger than the banks’ aggregate CDOR-based loan portfolios. ...

The class-action lawsuit names nine big banks -- Bank of Montreal, Bank of America Merrill Lynch, Deutsche Bank, Scotiabank, CIBC, HSBC, National Bank of Canada, Royal Bank of Canada and Toronto-Dominion Bank -- along with various subsidiaries, which were the most active dealers in CDOR between August 2007 and June 2014. ...

... For the remainder of the report:

https://www.ft.com/content/2c2df13e-fa1a-11e7-9b32-d7d59aace167

* * *

Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 21-22, 2018
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
https://cambridgehouse.com/e/vancouver-resource-investment-conference-20...

GATA Reception
Lions Pub
888 West Cordova St., Vancouver, British Columbia, Canada
5-7 p.m. Monday, January 22, 2018

Mining Investment Asia
Monday-Wednesday, March 26-28, 2018
Marina Bay Sands, Singapore
https://www.mininginvestmentasia.com/

Mines and Money Asia
Tuesday-Friday, April 3-6, 2017
Hong Kong Convention and Exhibition Centre
https://asia.minesandmoney.com/

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Jan 15, 2018

12:28p ET Monday, January 15, 2018

Dear Friend of GATA and Gold:

Interviewed by Craig Hemke of the TF Metals Report for Sprott Money News, mining entrepreneur Eric Sprott discusses the "exchange for physicals" mechanism that is moving gold futures delivery off the New York Commodities Exchange to secretive resolution in London.

"It makes you think that the comex is a fraud vis-a-vis the real market for gold," Sprott says. "So I think the exchange for physical is just part of the whole thing. Move it off, get rid of it, put it under some carpet somewhere, so nobody sees what's going on."

The interview is 10 minutes long and can be heard and read at the Sprott Money internet site here:

https://www.sprottmoney.com/Blog/everything-is-so-vulnerable-eric-sprott...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[email protected]


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Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 21-22, 2018
Vancouver Convention Centre West
Vancouver, British Columbia, Canada

https://cambridgehouse.com/e/vancouver-resource-investment-conference-20...

GATA Reception
Lions Pub
888 West Cordova St., Vancouver, British Columbia, Canada
5-7 p.m. Monday, January 22, 2018

Mining Investment Asia
Monday-Wednesday, March 26-28, 2018
Marina Bay Sands, Singapore
https://www.mininginvestmentasia.com/

Mines and Money Asia
Tuesday-Friday, April 3-6, 2017
Hong Kong Convention and Exhibition Centre
https://asia.minesandmoney.com/

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Jan 15, 2018

By Jeff Black, Stephen Engle, and Enda Curran
Bloomberg News
Monday, January 15, 2018

Germany's central bank has decided to include the Chinese yuan in its own reserves, in a further boost to the international status of the currency.

Speaking at an event in Hong Kong today, Bundesbank board member Andreas Dombret said the decision was taken last year following an investment of 500 million euros ($611 million) by the European Central Bank, of which the German authority is a part. He said he wouldn't comment on the amount that would be allocated.

“The renminbi is used increasingly as part of central banks' foreign-exchange reserves -- for example, the ECB included the RMB but also other European central banks did so,” Dombret said during a speech in Hong Kong Monday.

Following the fanfare around the yuan's acceptance to the International Monetary Fund's reference basket of currencies, or Special Drawing Rights, in 2016, the march of the yuan has slowed down. With capital controls still in place, the currency backed by the world's second-largest economy has dropped to the sixth most-used worldwide from a record fourth ranking in August 2015, according to Swift data. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2018-01-15/bundesbank-to-include...



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Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 21-22, 2018
Vancouver Convention Centre West
Vancouver, British Columbia, Canada

https://cambridgehouse.com/e/vancouver-resource-investment-conference-20...

GATA Reception
Lions Pub
888 West Cordova St., Vancouver, British Columbia, Canada
5-7 p.m. Monday, January 22, 2018

Mining Investment Asia
Monday-Wednesday, March 26-28, 2018
Marina Bay Sands, Singapore
https://www.mininginvestmentasia.com/

Mines and Money Asia
Tuesday-Friday, April 3-6, 2017
Hong Kong Convention and Exhibition Centre
https://asia.minesandmoney.com/

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Jan 13, 2018

10:18a ET Saturday, January 13, 2018

Dear Friend of GATA and Gold:

Interviewed by King World News, GoldMoney founder and GATA consultant James Turk says gold has been making higher lows for two years and all its pullbacks lately have been well-bid. Turk adds that he expects a lot of inflation this year because debt in the United States has become so huge that the Federal Reserve will not be able to make real interest rates positive. So he thinks this may be gold's year to break free of central bank market rigging.

The interview is 14 minutes long and can be heard at KWN here:

https://kingworldnews.com/james-turk-broadcast-interview-available-now-1...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
[email protected]



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Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 21-22, 2018
Vancouver Convention Centre West
Vancouver, British Columbia, Canada
https://cambridgehouse.com/e/vancouver-resource-investment-conference-20...

GATA Reception
Lions Pub
888 West Cordova St., Vancouver, British Columbia, Canada
5-7 p.m. Monday, January 22, 2018

Mining Investment Asia
Monday-Wednesday, March 26-28, 2018
Marina Bay Sands, Singapore
https://www.mininginvestmentasia.com/

Mines and Money Asia
Tuesday-Friday, April 3-6, 2017
Hong Kong Convention and Exhibition Centre
https://asia.minesandmoney.com/

* * *

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16