U.S. Silver & Gold Inc. (USA:TSE) fiat $2.010 Aug 16, 2012, Exchange: Toronto Stock Exchange
$2.010 Aug 16, 2012, 8:28 PM EDT
Change: 0.070 +3.61%
Volume: 109,997
Gold now defends not just liberty but simple reality Submitted by cpowell on Sat, 2012-03-10 20:02. Section: Essays 2:57p ET Saturday, March 10, 2012
Dear Friend of GATA and Gold:
GATA can't vouch for the data published in the latest edition of Alan M. Newman's financial letter, Crosscurrents, which argues that financial manipulation has become the main pursuit of the United States economy, but he is far from alone in his observations. Commentary about this trend arose around 20 years ago, perhaps first in The New Republic magazine. And there is a well-established entry about it at Wikipedia, the Internet encyclopedia, here:
Newman writes that dollar trading volume (presumably in U.S. markets) now is more than four times larger than the U.S. gross domestic product as well as four times larger than total stock market capitalization. "The churn continues at the most ferocious pace, making a mockery of our capital markets," Newman writes. "The theme of investing for the future is now meaningless as high-frequency trading distorts price discovery, resulting in gross pricing inefficiencies."
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