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Commissioner of CFTC Bart Chilton Has Said Silver Has Been Manipulated and those who have done so, should be proscuted!

How awesome is this!?

Bart Chilton a couple of weeks back said, he would go public himself if the CFTC did not about Silver Manipulation!  He has held to his promise!  He has come out today saying the Silver Market HAS BEEN MANIPULATED!  He also said those who have done so, should be Prosecuted!   Gosh, I wonder how all the boys at JP Morgan are liking that right now?  Just brings a smile to my face!

Article:

WASHINGTON (MarketWatch) — A federal futures regulator said Tuesday he believes there have been numerous attempts to fraudulently influence silver market prices, and he urged the agency to prosecute those who may have violated commodities laws. 

Bart Chilton, a commissioner at the Commodity Futures Trading Commission, made his comments Tuesday at the start of a public meeting where the agency will be proposing new rules to strengthen its anti-fraud and anti-manipulation powers.

The agency’s enforcement division for over two years now has been probing the silver /quotes/comstock/21e!f1:si\z10 (SIZ10 2,412, +29.00, +1.22%)  market amid a flurry of complaints by investors who have raised fears about potential price manipulation. The CFTC hasn’t provided any updates on the investigation, and Chilton 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. 

Lets see is Silver responds to this news in the next few days.

CFTC - To Come out with Information on Silver Manipulation - Expect Price Explosion when it is Ended!

Please understand - (this is strictly my own opinion and NOT investment advice) I would NOT own any JP Morgan investments and stock - with everything going on... and they ARE the Biggest Shorts against Silver - this will descimate them IMO!  I would get out of JP Morgan investments, while the getting is good!  This besides the mortgage fraud they are involved with will hurt their stock!  Please see article below.  CFTC is coming out about the Silver manipulation which is JP Morgans expertise!

 

You Can Thank David Morgan for This information Coming to me!  

David Morgan is an Expert on Silver and his Website is Silver-Investor.

You can sign up for his Free Email Information! 

 

Information about CFTC: 

 

Silver Price Manipulation:  "Public deserves answers"  by Rob MacKinlay

US regulators have been urged to reveal the results of a two-year-long investigation into silver and gold price manipulation allegations. The findings are keenly awaited by investors and organisations who have been making allegations about silver and gold price manipulation for decades. 

The investigation was based on a claim that large traders, like banks, had been selling huge amounts of silver on the futures market to keep prices down. A substantial short position - believed to be equivalent to 25% of the annual global mining supply of silver - was exposed during the financial crisis.      

Bart Chilton, a commissioner at the US Commodities Futures Trading Commission (CFTC), which is investigating the claims, said: 'I think the public deserves some answers in the very near future.'

He said: 'I expect the CFTC to say something on our silver investigation within weeks. I can't pre-judge what that will be. I can't even guarantee that the agency will speak. That said, if the agency remain silent for much longer, I intend to speak out on the matter in an appropriate fashion.'

Geoffrey Aronow, a former CFTC investigator, told Citywire that there was a chance the investigation could affect silver prices: 'I would say that, generally speaking, results of investigations have not had direct market impacts, but it may depend on whether the Commission concludes that there is any ongoing questionable conduct.'

Ben Davies, chief executive of Hinde Capital, a london-based gold hedge fund manager said that it looked like the activity which had raised the original concerns had stopped and so a direct effect on the price of silver was unlikely.

Back in March 2010 Chilton suggested that CFTC investigators had madesignificant discoveries: 'We have looked at the silver market like we have never before and I think there is a window of success that has been opened for understanding about what has been going on and why.'

In the statement he said this was the first full investigation into the silver market since 1979 when the Hunt brothers cornered the market and the silver price spiked.

Until 2008 the CFTC believed that these allegations were groundless, a view still held by some gold experts.

However the product manager of ZKB's physical gold exchange traded fund, suggested that concerns about the global gold and silver markets had motivated significant investments. He said that clients liked the Switzerland-based ZKB ETF because ZKB was the product's sole market maker which minimised reliance on global gold markets. /