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.

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. /