Tuesday, October 26, 2010
Commodity Futures Trading Commission: Silver Market is Manipulated
Dow Jones newswires reports:
Bart Chilton, a commissioner at the Commodity Futures Trading Commission ... said he thinks “the public deserves some answers to their concerns that silver markets are being, and have been, manipulated.”
“I believe there have been repeated attempts to influence prices in the silver markets,” he said. “There have been fraudulent efforts to persuade and deviously control that price.”
He urged prosecution of those who may have violated the law, but said he can’t prejudge what the agency will do with its investigation.
Reuters confirms:
Commissioner Bart Chilton said ... the silver market needs attention. "I believe that there have been repeated attempts to influence prices in the silver markets. There have been fraudulent efforts to persuade and deviously control that price," Chilton said. He declined to provide further details. The CFTC began a probe into allegations of manipulation in silver in September 2008, but has not provided information about when it hopes to conclude. See this for background. It is unclear whether the CFTC will take any real action to stop the manipulation, whether the CFTC will sweep the issue under the rug, or whether Chilton's statements are an attempt to restore the reputation of the CFTC after 1 of its 2 administrative law judges accused the other of vowing never to rule for a complainant.
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Another great post GW, build a fire in the CFTC’s butt and keep fanning it and eventually, we can dismantle the corruption in our government piece by piece by exposing the truth and the corruption within our government regulatory agencies. We must reestablish the Rule of Law!
ReplyDeleteDerivatives are the World Banksters weapon of economic mass destruction and are based on fraud and manipulation of ethereal assets. Derivatives are at the root of the American mortgage fraud and the manipulation of currency including gold and silver.
In 2009 speculative, uncontrolled derivatives were the World largest market at an estimated 600 Trillion! That dwarfs the real World total economic output at an estimated 58.07 Trillion and the total World bond market with an estimated 82.2 Trillion! There is not that much money in the real world!
It’ tyranny all right, next is the military boot on the neck!
ReplyDeleteHey, very nice site. I came across this on Google, and I am stoked that I did. I will definitely be coming back here more often. Wish I could add to the conversation and bring a bit more to the table, but am just taking in as much info as I can at the moment.
ReplyDeleteThank You
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