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Gold/Mining/Energy : Barrick Gold (ABX)
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To: nickel61 who wrote (1562)12/14/1999 3:17:00 PM
From: Terry Swift  Read Replies (2) of 3558
 
Unfortunately, the members of the CFTC are many of the same brokerage firms that are engaged in this scam and the ones that aren't directly involved are not about to rock the boat for their comrades.

I don't know if you were following the gold and silver markets in 1980. If you were, you saw what the CFTC did to the Hunt brothers in order to protect their member firms (and those firms' large institutional clients) who were massively short silver. They simply changed the rules under which silver futures contracts could be bought and sold. Their trading restrictions on silver were such that it made it impossible for the metal to go anywhere but down, thus saving the bacon of the big money players in silver. It was the most blatant manipulation of free markets in history.

The current gold and silver markets are being manipulated under the table (so to speak) but not as blatantly as the silver longs were mugged in 1980. The result has been the same, the only difference being this manipulation has been done covertly and gone on much longer. It has been a slow bleeding of the victim rather than the brutal slice of the jugular that occurred in 1980. The muggers are the same... certain member firms of the CFTC. Don't expect any help from the designated watchdog. They are a watchdog in name only.
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