Tuesday, August 7, 2012

CFTC - Commissioner Chilton says FT article not accurate about CFTC dropping Silver manipulation investigation

Last week, FT had an article saying that the CFTC was dropping the Silver Manipulation Investigation they had been conducting  enabling for 4 years.

I was teed off needless to say and did not post about it because my thoughts had many 4 letter words.

Commissioner Bart Chilton has spoken to The Motley Fool, telling them the FT article was premature and it was not accurate in many respects.  He did not hint on what parts were inaccurate.

The article, entitled "Four-Year Silver Probe Set to be Dropped," reported that the investigation "looks increasingly likely to be dropped after US regulators failed to find enough evidence to support a legal case." If the report were to prove correct, this would represent a crushing blow to commodity investors like myself that have become quite convinced after a thorough review of the facts that the markets for silver and gold have been subjected to highly effective campaigns of deliberate price manipulation.

On Monday morning, I reached out to Commissioner Bart Chilton of the U.S. Commodity Futures Trading Commission for comment. Addressing the report that his agency will likely drop the investigation with no charges filed, Chilton countered: "The Financial Times report related to silver is not only premature, but inaccurate in several respects."

 In his remarks to me on Monday morning, Chilton took the fascinating step of broadening the scope of his remarks to include gold this time around, and he also seemed to connect the more recent episodes of highly questionable market dynamics -- which market observers like the Gold Antitrust Action Committee and myself have publicly decried -- to the specific events considered within the four-year silver investigation: "I continue to believe, consistent with my previous statements and information from the public, that there have been devious efforts related to moving the price of silver. There have also been silver and gold market anomalies outside of the silver investigation window that have raised, and continue to raise, market concerns."

So the question is, will they or will they not drop the investigation?

There is so much evidence of manipulation.

Remember Bill Murphy's testimony at the CFTC hearing in March of 2010 with proof of the silver manipulation?

We know they have absolute proof JP Morgan and all the other Wall Street banks are manipulating the metal markets. But it is for the government and the CFTC is an arm of the government, so it makes sense they won't do anything.

But there is still hope in truth right now. Let's see if that Hope deflates, just as it did after the last election of "Hope" that was based on lies.

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