Chris Powell: Why invest in gold miners if they won’t defend themselves?

Jon Economy, Gold, Government, Precious Metals, Silver

Remarks by Chris Powell Secretary/Treasurer, Gold Anti-Trust Action Committee Inc.
Mining Investment Asia Conference, Singapore Thursday, March 30, 2017
Mines and Money Asia Conference, Hong Kong Friday, April 7, 2017
Since we gathered here a year ago, gold and silver market manipulation has burst into the open and become undeniable. Even some mainstream financial news organizations have had to report it, if begrudgingly and only briefly. But the gold and silver mining industry itself keeps running away from it.
Fortunately, this conference allows it to be discussed anyway.
The biggest development in gold and silver market manipulation in the last year has been Deutsche Bank’s admission that its traders conspired with traders from other big investment banks to suppress gold and silver futures prices. This admission by Deutsche Bank came as part of its response to class-action antitrust lawsuits brought against it and its co-conspirators in U.S. District Court in New York. Deutsche Bank has provided the plaintiffs with transcripts of electronic messages between the traders showing them coordinating their trades to smash gold and silver prices down. The bank has agreed to pay nearly $100 million to the plaintiffs to settle the cases. The bank also has agreed to provide more evidence against the other conspiring banks.

This post was published at GATA