Congressman Demands CFTC Explain Its Failure To Find Silver Market Manipulation Where DOJ Did

Stefan Gleason

President at Money Metals Exchange

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Gleason is president of Money Metals Exchange, a national precious metals investment company and news service with over 1,000,000 readers, and more than 500,000 paid customers. He launched the company while president of a national newsletter publishing company dedicated to helping subscribers protect their freedoms, assets, and privacy. He founded Money Metals Exchange in 2010 in direct response to the abusive methods of national advertisers of rare, collectible, and numismatic coins who mark up their coins to 50%, 100%, or even higher above their actual melt value. Money Metals believes the average investor should never purchase precious metals that are not priced at or near their actual melt value. The rare coin market is only suitable for highly experienced collectors with money to blow. Previously, Gleason served as Vice President of the National Right to Work Legal Defense Foundation in Springfield, Virginia. As the first strategic litigation organization in the individual rights and free enterprise movement, the Foundation has led the national legal battle to block the expansion of union special privileges over workers and the U.S. economy since 1968. In addition to managing fundraising programs and many of the internal dynamics of the Foundations $7 million-a-year operation, he was the Foundations primary spokesman on a number of critical, high-profile legal cases, some of which were heard by the U.S. Supreme Court. Gleason has frequently appeared on national television shows and networks such as Fox News Channels OReilly Factor and Special Report with Brit Hume, CNBCs Closing Bell, Christian Broadcasting Network, CNN, and C-SPANs Washington Journal. He has frequently been interviewed on national radio shows such as the Lars Larson Show, Michael Reagan Show, G. Gordon Liddy Show, and Ken Hamblin Show. Gleasons articles comments have appeared in The Wall Street Journal, Detroit News, Washington Times, and National Review, among thousands of other national, state, and local newspapers, wire services, and Internet sites. A seasoned business leader, investor, political strategist, and grassroots activist, Gleason is also a graduate of the University of Florida with a BA degree in Political Science.less

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Congressman Demands CFTC Explain Its Failure To Find Silver Market Manipulation Where DOJ Did

Date: Tuesday, February 5, 2019 6:22 PM EDT

Washington, DC (February 5, 2019) – A member of the U.S. House Financial Services Committee today pressed the Commodities Futures Trading Commission (CFTC) on its conspicuous failure to uncover the very silver market manipulation now being prosecuted by the U.S. Department of Justice.

In a probing letter dated February 5 to CFTC Chairman J. Christopher Giancarlo, Rep. Alex X. Mooney (R-WV) writes:

“U.S. Justice Department obtained a guilty plea from a former commodities trader for JPMorganChase & Co. to charges of manipulating the gold and silver markets between 2009 and 2015, and its investigation into the actions of related parties is ongoing.

“The period of time at issue substantially overlaps the time during which your commission was investigating complaints of manipulation of the silver market – 2008 to 2013. However, in 2013, the commission announced that it had closed its investigation without finding any wrongdoing.

“Why did the commission fail to find the wrongdoing the Justice Department has confirmed and continues to investigate? Also, will the commission now be re-opening its investigation into silver market manipulation and opening an investigation into gold market manipulation? If not, why not?”

Meanwhile, Rep. Mooney asks about the CFTC’s recent refusal to answer questions posed by a non-profit watchdog group called the Gold Anti-Trust Action Committee (GATA) that investigates government interventions in gold and silver markets.

Rep. Mooney’s letter seeks answers from the CFTC about its apparent reporting discrepancies, the unusual correlation between the Chinese Yuan and the gold price, and whether the CFTC believes it has jurisdiction over gold market trading by the U.S. government or foreign governments.

“Congressman Mooney understands that a lack of transparency in the gold and silver markets not only undermines confidence, but also enables governments and powerful financial interests to manipulate currencies and asset prices to Americans’ great detriment,” said Jp Cortez, Policy Director for the Sound Money Defense League.

“Gold and silver are true money, and the CFTC has a responsibility to expose and punish those who seek to secretly manipulate its value.”

Rep. Mooney’s letter to CFTC Chairman J. Christopher Giancarlo can be accessed here.

The Sound Money Defense League is a public policy group working nationally to bring back gold and silver as America’s constitutional money. The group also maintains America’s Sound Money Index.

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