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Ronan Manly: LBMA is a fractional-reserve banking fraud like FTX

12:57p ET Wednesday, November 30, 2022

Dear Friend of GATA and Gold:

Bullion Star researcher Ronan Manly today shows how the fraudulent FTX cryptocurrency exchange was essentially a fractional-reserve-style banking operation and Ponzi scheme and likens it to the operations of the London Bullion Market Association, whose members have issued far more in gold credits than is available to them in real metal. But, Manly adds, while the documentation of this is available to mainstream financial news organizations, they won't touch it -- until, perhaps, the LBMA fraud collapses as well.

Manly's analysis is headlined "FTX Fiasco Highlights the Ponzi Nature of Modern Banking and the London Gold Market" and it's posted at Bullion Star here:

https://www.bullionstar.com/blogs/ronan-manly/ftx-fiasco-highlights-the-ponzi-nature-of-modern-banking-and-the-london-gold-market/

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

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and 463 g/t Silver over 9.16 Meters

Company Announcement
Tuesday, November 29, 2022


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Toast to a free gold market 
with great GATA-label wine

Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.

Here's what the bottles look like:

http://www.gata.org/files/GATA-4-wine-bottles.jpg

Buyers can compose their case by choosing as many as four varietals from the list here:

http://www.gata.org/files/FayJWineryVarietals.jpg

GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?

To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --

https://tinyurl.com/3xt6uw66

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Black Friday Was Dark Indeed For Retailers
USA Gold's 'News & Views' letter for December

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