RE:Andrew Maguire audio – RE: JPMhttps://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/9/25_The_Shocking_Truth_About_Secret_Documents_&_The_CFTC.html
In recent years, JP Morgan has said they are innocent of manipulating the metals markets -- that they don’t trade in the metals markets in their own account, they do it just for clients.
I am inclined to take them at their word, insofar as those ‘clients’ are likely to be the US government. The US government very likely trades in the metals markets every single day, either through agents or through the Bank for International Settlements.
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“If the CFTC discovered that the rigging of the monetary metals markets is essentially government policy, being conducted through intermediaries, then it would not be able to act against government agents.
By federal law, the Gold Exchange Act of 1934 specifically authorizes the US government to rig not only the gold market, but to rig any (financial) market surreptitiously through the Exchange Stabilization Fund. If the CFTC has discovered that market rigging is taking place because of US government policy, then according to law there is nothing to be done about it.”
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In one hearing I attended in US District Court in Boston, an assistant US attorney got up, speaking on behalf of the US government, and he said that the US government under the Exchange Stabilization Fund Statute, the Gold Reserve Act of 1934, had precisely the power to interfere with the pricing of gold that the lawsuit complained of -- that is, a US government lawyer declared in open court, in 2001, that rigging the gold market as government policy is totally authorized by law.
You will find the US Treasury Department quoting the Gold Reserve Act as saying the Exchange Stabilization Fund can intervene, as I said previously, not only in the gold market, but in any financial market.
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“You are absolutely right that this issue cannot be discussed in any detail because it always leads back to surreptitious manipulation of the markets by the government. That’s why all of the documents we have collected over the years such as the secret International Monetary Fund Report from March of 1999, which said that Western central banks hide their gold swaps and leases to facilitate currency market intervention -- none of this can be discussed in detail.
If you start looking at these secret government documents, it immediately leads to government intervention. If the government intervention becomes known and understood, its utility collapses. The concealment, the secretive nature are so vital to the rigging of the markets. This is why it is such a struggle to expose the manipulation that is really going on in gold and silver as well as other markets because the most powerful governments on Earth are standing against you.”