Central Banks Secretly Controlling all Futures Prices – Chris Powell

TND Videocast Spotlight: Greg Hunter’s USAWatchdog.com   

Chris Powell, Secretary/Treasurer of the Gold Anti-Trust Action Committee (GATA), says recent bombshell evidence shows intense central bank “interventions” at the CME Group, which handles $1 quadrillion ($1,000 trillion) worth of business annually.  Powell explains, “The greatest documentation that’s come out recently has been filings by the CME Group which operates the major futures exchange in the United States.  They filed a letter with the U.S. Commodity Futures Trading Commission (CFTC) . . . showing that central banks are receiving special volume discounts for trading futures on all the major futures exchanges, not just financial futures contracts and metals futures contracts, but even agricultural futures contracts.  The CME Group’s most recent 10-K filing with the U.S. Securities and Exchange Commission (SEC) lists its customers.  Included in that list are governments and central banks.  This is really a sensational development.  Nobody can trade against central banks, they create infinite money.  If central banks are secretly trading in the futures markets, there are no markets. The CME Group defended this as a matter of adding liquidity to the futures markets, but it’s liquidity in the sense of the Atlantic Ocean.”

Powell goes on to say, “Again, central banks create infinite liquidity. Nobody can trade against them.  That means central banks are controlling all futures prices in the United States.  Remarkably, this cannot be reported in the financial news media.  GATA has sent these documents to many news organizations around the world, and it simply cannot be talked about.  No major financial news organization dares to ask CME Group or any central bank ‘what about this secret trading with volume discounts by central banks in all the major U.S. futures markets?’  It simply cannot be discussed.  The documents don’t prove that any particular central bank is trading any particular futures contract on any given day, but they do show the central banks are trading secretly in all U.S. futures markets.  That means our market economy has been destroyed.  It really means our democracy has been destroyed because they don’t tell us what they are doing.  This is a real failure of financial journalism.  In fact, I argue that the greatest asset of central banks is not their power of infinite money creation right now, it is their power to control financial journalism.”

Click here to read the rest of Greg Hunter’s write-up and to access the active comment section.

After the Interview:  

There is lots of free information and articles on the GATA website.  Please go to the home page of GATA.org to take a look.  If you would like to make a tax deductible contribution to the Gold Anti-Trust Action Committee, please click here.

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About Greg Hunter:

Mr. Hunter is the producer and creator of Greg Hunter’s USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. Greg Hunter’s USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows. Greg encurages feedback and welcomes comments. You may also support USAWatchdog.com by clicking here to donate.  Reprinted with permission.    

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