| Online: | |
| Visits: | |
| Stories: |
| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Bank of England denies secret futures trading on CME Group exchanges in U.S.
TND Guest Contributor: Chris Powell |
Bank of England Governor Mark Carney today told the Treasury Committee of the House of Commons that the bank is not participating in CME Group’s program by which central banks receive discounts for their secret trading in all major U.S. futures markets.
The CME Group’s “central bank incentive program” is described here:
http://www.gata.org/node/14385
http://www.gata.org/node/14411
http://www.gata.org/node/14818
Carney’s denial came in response to a question from committee member Steve Baker, Conservative for Wycombe in England.
The exchange can be viewed at the 11:38:50 mark of the video of the hearing at Parliament’s Internet site here:
http://www.parliamentlive.tv/Main/Player.aspx?meetingId=17350
While no mainstream financial news organizations will question central banks about their secret trading in the markets, at least the issue seems to have come to the attention of some elected officials in Britain.
# # # #
About Chris Powell:
Mr. Powell has been managing editor of the Journal Inquirer, a daily newspaper in Manchester, Connecticut, since 1974. He serves as the secretary/treasurer and a director of the Gold Anti-Trust Action Committee (GATA). Mr. Powell publishes GATA “dispatches” on stories relevant to the precious metals community: click here to access them and the GATA website. For additional information about precious metals, financial markets and the economy a 2 week free trial to GATA chairman Bill Murphy’s subscription service is available by clicking here. This article is reprinted on The News Doctors with permission.
Source: http://thenewsdoctors.com/bank-of-england-denies-secret-futures-trading-on-cme-group-exchanges-in-u-s/
