Mr. David Kovel, Esquire

22 May, 2014

Mr. David Kovel, Esquire

Kirby McInerney LLP
825 Third Avenue
New York,NY10022

Dear Mr. Kovel:

As the attorney at the law firm leading the class action lawsuit against the Bank of Nova Scotia, Barclays, Deutsche Bank, HSBC and Société Générale for manipulating the price of gold in the London PM Price Fix, I am sure that you are aware of the analysis performed by Rosa Abrantes-Metz and Albert Metz, who have discovered that in six years between 2004 and 2012, at least 67% of the unusual price spikes that immediately preceded the 3PM London gold price fix were downward as were an overwhelming 92% of significant price moves in 2010 that immediately preceded the London price fix. As a source of raw data in your class action lawsuit, I would also like to bring your attention to the book The Gold Cartel, by commodity analyst Dimitri Speck, in which the author analyzed minute-by-minute data in gold futures markets from 1993 to 2012 and discovered that large movements in gold price in futures markets over 2% in condensed periods of time were usually downward and occurred within the immediate timeframe of the London PM price fix as well.

Since 80% of the gold futures volume in daily trading is controlled by three banks - JP Morgan, Citigroup and HSBC – I encourage you to use Dimitri’s analysis to add JP Morgan and Citigroup to the 5 banks above in your class action lawsuit for gold price manipulation as the manipulation of gold price that has occurred in gold futures markets in recent years has been far worse, and is likely even easier to prove, than the gold manipulation that has been allegedly occurring in the London AM/PM Price Fix. Millions among us appreciate your efforts to root out the corruption that exists in gold and silver markets and we unilaterally support and applaud your efforts in bringing worldwide attention to this very serious matter.

Sincerely,