Post by jeffolie on Mar 28, 2010 14:25:37 GMT -6
London gold Ponzi scheme?
Many times claims have been made against the precious metals markets. Even so, nothing has happened so maybe nothing will happen.
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Former Goldman Commodities Research Analyst Confirms LMBA OTC Gold Market Is "Paper Gold" Ponzi
Submitted by Tyler Durden on 03/28/2010
www.zerohedge.com/article/former-goldman-commodities-research-analyst-confirms-lmba-otc-gold-market-paper-gold-ponzi
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It's admitted to the CFTC: London gold market is a Ponzi scheme
Submitted by cpowell on Sun, 2010-03-28 05:19. Section: Documentation
By Adrian Douglas
Sunday, March 28, 2010
The bombshell GATA dropped at the public hearing held by the U.S. Commodity Futures Trading Commission on futures trading in metals was stunning. Video of GATA Chairman Bill Murphy revealing a whistleblower source who warned the CFTC's Enforcement Division about market manipulation by JPMorganChase and witnessed JPM traders bragging of their exploits can be viewed here:
www.gata.org/node/8478
GATA has long advocated the ownership of real physical bullion. The “bombshells” dropped in the CFTC Public Hearing have only served to reinforce that view. We believe we have made significant new inroads into exposing the fraud, and the suppression of precious metals prices and it is documented in the CFTC’s own hearing.
from the comments: Many people in GLD think they will be able to collect "their" gold should they desire. Despite the blinding legalese in the prospectus, it was sold to them as buying gold. Real gold.
Many times claims have been made against the precious metals markets. Even so, nothing has happened so maybe nothing will happen.
========================================================
Former Goldman Commodities Research Analyst Confirms LMBA OTC Gold Market Is "Paper Gold" Ponzi
Submitted by Tyler Durden on 03/28/2010
www.zerohedge.com/article/former-goldman-commodities-research-analyst-confirms-lmba-otc-gold-market-paper-gold-ponzi
-------------------------------------------------------------------------------------------
It's admitted to the CFTC: London gold market is a Ponzi scheme
Submitted by cpowell on Sun, 2010-03-28 05:19. Section: Documentation
By Adrian Douglas
Sunday, March 28, 2010
The bombshell GATA dropped at the public hearing held by the U.S. Commodity Futures Trading Commission on futures trading in metals was stunning. Video of GATA Chairman Bill Murphy revealing a whistleblower source who warned the CFTC's Enforcement Division about market manipulation by JPMorganChase and witnessed JPM traders bragging of their exploits can be viewed here:
www.gata.org/node/8478
GATA has long advocated the ownership of real physical bullion. The “bombshells” dropped in the CFTC Public Hearing have only served to reinforce that view. We believe we have made significant new inroads into exposing the fraud, and the suppression of precious metals prices and it is documented in the CFTC’s own hearing.
from the comments: Many people in GLD think they will be able to collect "their" gold should they desire. Despite the blinding legalese in the prospectus, it was sold to them as buying gold. Real gold.