U.S. Rep. Alex X. Mooney, R-West Virginia, is continuing his efforts to get answers from the U.S. Treasury Department, Federal Reserve, and Commodity Futures Trading Commission about surreptitious interventions by the U.S. government in the financial and commodity markets and particularly the gold and silver markets.
Mooney's efforts began with letters sent to the Federal Reserve chairman and Treasury Secretary in April 2018:
In July 2018, the Fed and Treasury responded to Mooney but only incompletely, the Fed denying that it was trading in gold but refusing to say whether it is trading in other markets, the Treasury giving a partial denial of gold trading but failing to answer about the government's policy toward gold:
In February this year, Mooney asked the CFTC, if it has jurisdiction over manipulative trading undertaken by the U.S. government or brokers acting for the U.S. government, or if such manipulative trading is authorized by federal law:
The CFTC has never responded.
Summarizing the major questions that remain unanswered:
1) What is U.S. government policy toward gold? Is the policy still to drive gold out of the world financial system in favor of the U.S. dollar, as State Department records show the policy was in the 1970s?
2) Is the Treasury Department's Exchange Stabilization Fund transacting in gold?
3) What markets are the Fed and Treasury trading in, through what mechanisms, and for what purposes?
4) Does the CFTC have jurisdiction over manipulative trading by the U.S. government or its agents?
5) Has the U.S. gold reserve ever been audited for any encumbrances? If so, what were the findings?
Rep. Mooney's latest letter to Treasury Secretary Steven Mnuchin, sent last month, is here:
Mooney's latest letter to the CFTC, also sent last month, is here:
Of course, the refusal of the Fed, Treasury, and CFTC to answer the congressman's questions promptly and fully is strong evidence that the U.S. government is deeply and comprehensively involved in market manipulation.
If only mainstream financial news organizations and financial market analysts had the courage and integrity to pose Mooney's questions on their behalf. Then the world might enjoy some actual financial journalism -- and the market rigging and the imperialism the rigging represents might be defeated and free and transparent markets restored along with limited and accountable government.
About the Author:
Chris Powell is a political columnist and former managing editor at the Journal Inquirer, a daily newspaper in Manchester, Connecticut, USA, where he has worked since graduating from high school in 1967. His column is published in newspapers throughout Connecticut. He is also secretary/treasurer of the Gold Anti-Trust Action Committee Inc., (GATA) which he co-founded in 1999 to expose and oppose the rigging of the gold market by Western central banks and their investment bank agents.