Mike Gleason: Well, Chris, we think some people owe you and GATA an apology. You have been making the case for manipulation of gold and silver prices since GATA was formed in 1999, but lots of people dismissed everything you had to say. We now have incontrovertible proof of multiple banks and multiple traders running a decade-long scheme to “spoof” prices.

There are guilty pleas and piles of evidence exposing a scheme which involved thousands of bogus trades. We know senior people were training more junior employees on how to rig prices. The Department of Justice is going to prosecute using RICO laws because attorneys there can see this is organized crime. But somehow, it doesn't look like the apologies will be coming anytime soon.

The same people who openly mocked the idea of price rigging a year or two ago now want us to believe that this sort of cheating is really just par for the course in any market. Bankers will be bankers – we ... Read more »