Welcome to Capital Account. JP Morgan said in a court filing that PFG's subpoena of the bank may be overly burdensome. Will JP Morgan find a way to get out of it? It looks like they could be off the hook for accusations of silver manipulation. The Financial Times reported US regulators are increasingly likely to drop the four year investigation of silver manipulation, failing to find enough evidence. Bart Chilton, CFTC Commissioner, told a Motley Fool reporter that this FT report is premature and inaccurate. We find out what Chris Powell, co-founder and treasurer of the Gold Anti- Trust Action Committee, thinks.
Since 1998 the Gold Anti-Trust Action Committee, GATA, has been exposing, opposing, and litigating against collusion meant to control the price and supply of gold and other precious metals. GATA has collected and published dozens of documents showing Western treasury and central bank efforts at intervention in metals markets - interventions that occur both openly, as well as surreptitiously, preventing the proper functioning of a free market in gold. Chris Powell, co--founder and treasurer of GATA and Managing Editor of the Journal Inquirer, has come all the way to our DC studio to give us an update on where GATA is in its efforts.
Also, the Federal Government is auditing the gold stored at the New York Fed. Are those who have been calling for an audit for years satisfied, or does this miss the point? We talk to Chris Powell about what this audit accomplishes, and if it even begins to scratch the surface, no pun intended.
And talking about precious metals, are shares in Wal-Mart as good as gold? Some are suggesting the discount retailer is the new safe haven. What does that mean? Since 40% of Wal-Mart's revenue is from food stamps, according to one of our guests, should investors go long government subsidies? Lauren and Demetri give you their take on Loose Change.
Have a good one!
Regarding www.skoptionstrading.com. We recently closed a trade involving the S&P which generated a profit of 25.61% and was open for just 8 days ago, the charts and stats have now been updated.
Our trading success rate is 91.00%
91 profitable trades out of 100.
Our model portfolio is up 455.14% since inception
An annualized return of 81.15%
Our annual performance figures are as follows:
2009 We made a profit of 23.89%
2010 We made a profit of 158.66%
2011 We made a profit of 40.95%
In 2011 we outperformed:
S&P by 42%
HUI by 53%
Gold by 31%
Silver by 41%
The 2011 Annual Report by be accessed via this link.
Also many thanks to those of you who have already joined us and for the very kind words that you sent us regarding the service so far, we hope that we can continue to put a smile on your faces.
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