William Murphy Explains his Testimony at the Recent CFTC Hearing and the Future of Precious Metals Markets

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""Initially we thought that the manipulation of the gold market was undertaken as a coordinated profit scheme by certain bullion banks, like JPMorgan, Chase Bank, and Goldman Sachs, and that it violated federal and state anti-trust laws. But we soon discerned that the bullion banks were working closely with the U.S. Treasury Department and Federal Reserve in a gold cartel, part of a broad scheme of manipulation of the currency, precious metals, and bond markets."

The presentations were webcast all over the world. But, for some reason the main TV feed failed just when I was making my presentation and then came back on when I was done ... yet another GATA coincidence."