Silver News: Congress Has Serious Demands for the CFTC

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Written by Mike Hammer

If you’re a regular TGE reader, you know The Gold Enthusiast’s position on market manipulation.  Basically, it has happened, it is probably happening right now (on some scale), and will continue to happen until the enforcement agencies get serious about it.  This week a US Congressman wrote a letter to the CFTC (Commodities Futures Trading Commission) asking a very pointed question:

Why the CFTC didn’t uncover manipulation found by a separate Department of Justice (DOJ) probe at the same time? Don’t know about your world, but that could be seen as a proverbial slap in the face. Maybe the CFTC didn’t find it because they didn’t really look, or because they didn’t really want to find it – we don’t know. It will be interesting to see if any response from the CFTC is published.  The backstory makes for good reading, and it’s delightfully short and to the point.

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About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated with a business degree, then worked with Macy's. After Macy's he spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined a well-known financial planning firm as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where he worked first for a small manufacturing consulting company, then a major university. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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