How does Bart Chilton and the rest of the regulatory crew explain the 2013 instant replay of 2008?  Price gets crashed from “sellers” yet what supposedly was sold can only be bought at a 30% premium…IF you can find it at all?  We are still waiting…and now “Bitcoin” is on the front burner I’m sure that Silver (and Gold) will not be addressed until AFTER exchange defaults occur.  For that matter, they won’t be reported on after the fact either because we will then have bigger, MUCH BIGGER problems facing us…like where the next meal will come from.

 

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Submitted By Bill Holter, Miles Franklin Ltd,:

Yesterday Bart Chilton, one of the CFTC commissioners said that they need to investigate “Bitcoin” because as he put it “this is not monopoly money – real people have real risk in these instruments”.  Yes very “real” so to speak.  This is a “cyber” currency with no “touchy feely” actual coins, there are no derivatives (yet) like options or futures and as for the “size” of this market we are talking about just north of a whopping $1 billion.  I don’t mean to sound crass here but $1 billion?  Jon Corzine stole $1.6 billion just a couple of years ago.  He took this money from “real people” unless you think of farmers as alien holograms.  Here we are nearly 2 years later and we hear nothing but crickets about MF Global and the dishonorable Jon Corzine walks the streets a free man…what’s up with this?

No I haven’t forgot about the other investigation, you know…the one nearly 5 years old looking into the forced Silver crash of 2008.  I was worried a month or 2 back that the statute of limitations would run out before the CFTC finished their “extensive” investigation and let the culprits off the hook, that’s no longer a problem as the clock just got reset with the latest blatant manipulation.  How does Bart Chilton and the rest of the regulatory crew explain the 2013 instant replay of 2008?  Price gets crashed from “sellers” yet what supposedly was sold can only be bought at a 30% premium…IF you can find it at all?  We are still waiting…and now “Bitcoin” is on the front burner I’m sure that Silver (and Gold) will not be addressed until AFTER exchange defaults occur.  For that matter, they won’t be reported on after the fact either because we will then have bigger, MUCH BIGGER problems facing us…like where the next meal will come from.
I really wanted to believe that Bart Chilton was truly a “white hat” as he allowed Bill Murphy to testify before the commission as well as allowing the brilliant Adrian Douglas (may God rest his soul) to speak.  In fact, it was these exchanges that led Jeffery Christian to admit that Silver and Gold were traded 100-1 paper to physical (at least) on the London Metals Exchange.  At this point I just don’t know and suspect that ‘ole Bart is just pulling our chains.  Silver is real.  “We” who have invested in Silver are “real” people aren’t we?  We took real risk (well not really) exchanging our fiat Dollars for Silver didn’t we?  So…why “investigate” a ham sandwich $1 billion market which trades a product that cannot be felt, held in your hand or even seen when “real” (YES VERY REAL) fraud has occurred in a very real market of a strategic metal…and so publicly that an 8 year old could understand?
As I have said before many times, the CFTC cannot possibly come to a conclusion of the truth.  The “truth” would crash the entire system within 72 hours of any statement.  The “truth” will not be exposed until AFTER the system crashes and no one will even care at that point because everyone will be too busy dealing with the “every man for himself” scenario.  …So Mr. Chilton, please do investigate and castigate Bitcoin as it is “infringing” on the U.S. Dollar’s turf.  When you come out with your findings in a month or so we will feel SO much better!
I had planned to stop right here but I thought to myself “if Bart Chilton really is a white hat and cannot get the other 4 commissioners to do their jobs (paid for by public taxes), he should resign”.  He should not only resign but he should go “whistleblower”.  He has been given time, lots of it to get the truth out.  5 years and being handed the evidence (not to mention again seeing it with his own eyes again currently) on a platter should make anyone with a conscience do the right thing.  He has not and I can no longer think of him as “a good guy” until he actually does something with the evidence.  “We’re looking into it” doesn’t cut it anymore. 
Regards,  Bill H.
  1. The CFTC is for regulating commodity markets.   They have dropped the ball on the real crimes, and are trying to make a few points ragging on Bitcoins, which aren’t commodities in the first place.  What next, will they add a Beanie Baby and Baseball card division?
     

    • C’mon you guys! Enough of the false hope, already! Bart is just another cog in the drive train but in his case, he could be described as an idler gear designed to do nothing other than change direction. He is there to deflect the energy of the voice of outrage. He is part of the machine. He is part of the club and you ain’t in it. No doubt he will feign innocence when the real investigations start. Surf’s up dude. Paddle out, Bart but do us a favour; Just keep paddling.

  2. Chilton’s righteous indignation toward Bitcoin only confirms it must be JPM behind Bitcoin.  If the public is afraid of fiat money, then offer them a controlled alternative; anything but gold and silver.  Chilton’s remarks were made to protect Bitcoin from real investigation.  Another example of the fox guarding the hen house.  At least that’s my theory.
     
    Doc…SD site is running really slowly again.  Also, lost ability to edit comments.  I’ve tried four different computers at two different locations so I don’t think the problem is on my end.  Anyone else noticed this?

    • I’d say cryptocurrencies is JPM’s worst fear, the only thing about bitcoins that can be manipulated is its perceived value, e.g. by criminalizing exchanges. The currency itself is completely transparent; if you have a local wallet it will download the entire transaction history of the currency. There is no way to control that, unless you control 51% of the processing power behind the currency. Even then, me thinks, irregularities will be seen after the fact, thus it will have to be a once-off foul play that completely compromises the currency. Now TPTB might have such processing power at their fingertips, with the military industrial complex being 20-what decades ahead of mainstream science, but no foul play has yet been detected. Another cryptocurrency will take its place, since math can be harnessed to provide the desired outcome. There may already be such an altcoin, immune to any attack. This is the future of medium of exchange; remember my words 10 years from now. Bitcoin is doing for finance what the internet did for communications in the 1990′s.

    • UNAS…You make some solid points.  Must say I do no fully understand Bitcoin.  So, when you say it’s as revolutionary as the internet, that makes me think we all better learn about this thing.

    • “Doc…SD site is running really slowly again.  Also, lost ability to edit comments.  I’ve tried four different computers at two different locations so I don’t think the problem is on my end.  Anyone else noticed this?”
       
      Yep, I’ve noticed that as well.  Makes me think that someone who shouldn’t be is messing with again.  :-/

  3. “Yesterday Bart Chilton, one of the CFTC commissioners said that they need to investigate “Bitcoin” because as he put it “this is not monopoly money – real people have real risk in these instruments”.  Yes very “real” so to speak.”
    ——————————————————————————————————
    And of course, silver investors don’t have real money risk involved.  Yes not very real, as to speak.
    Prison.  He needs to be put behind bars for a really long long long time.

  4. The golden boy needs to stick to combing his luxurious locks, and listening to 80s rock n roll records for lyrics to quote in mongoloid mainstream media interviews.
     
    This guy says that people have “real money” tied up in this? How about the people like us who have money tied up in gold and silver are getting our heads handed to us on plates. A55hole. In reality though, Chilton either fumbles along like inspector clouseau, or his masters will have him silenced.

  5. It is well past the time for us to believe anything Bart Chilton has to say on law enforcement and regulation in the markets. 
     
    A complete dereliction of duty on his part. He’s a total joke. 

    • Bart is another person at the helm of a large regulatory body that would had been fired years ago if he had been in the public sector.  Anyone that had shown this type of disregard of internal manipulation in the private sector would be canned so fast they wouldn’t know what hit them.
      So it’s obvious he’s been bought-and-sold.

  6. Bart, yo long hair be so purty.   Yous’ gon be somebody’s bitch in da pokey.   The question is, will it be a 300 lb fat guy named Tony in on tax evasion, a greasy 250lb Puerto Rican on a drug charge, or a menacing guy named Tyrone Biggins 

  7. Chilton says if there is a ‘colorable’ argument to regulate Bitcoins it will happen if the ‘rake and toke’ extractions are insufficient to satisfy the manipulators.  Until then Bart will assign Steveie Wonder to look into this digital currency.  

  8. So as far as I know, and I don’t know much….but hear me out anyways:
    CFTC stands for (Whoops, imagine them standing for anything) is an acronym for Commodity Futures Trading Commission.
    Now, Bitcoin may be a commodity, the US Gov. calls it a currency, but lets assume it is a commodity as well, like gold.
    It sure as hell isn’t a futures market. Is it?
    So what the fuck is this guy trying to investigate exactly?
    No, seriously, please respond, because I’m confused now.
     

  9. I asked all the CFTC commissioners to resign over a year ago, Bart included. They’re all in collusion as far as I’m concerned by their inaction. Allowing an ongoing crime to take place is unacceptable. The CFTC is irrelevant and we shouldn’t be even talking about them…they’re not even worth that. Please don’t post anything regarding the CFTC…it makes me ill.

  10. “Yesterday Bart Chilton, one of the CFTC commissioners said that they need to investigate “Bitcoin” because as he put it “this is not monopoly money – real people have real risk in these instruments”.”
     
    Well, let’s see.  Hmmm… bitcoin… no futures… not a commodity… so, WTF makes Fart Chilton think that either he or his gang have ANY authority to regulate or even question bitcoin?
     
    “Here we are nearly 2 years later and we hear nothing but crickets about MF Global and the dishonorable Jon Corzine walks the streets a free man…what’s up with this?”
     
    Well, it’s really simple.  Corzine is WAY up there in the Obamunist organization.  That gives him an automatic GTF Outta Jail card.  I bet that it is even just like the one that Eric Holder has.  Both are members in good standing of the Nation of Men, Not of Laws club.
     
    ““if Bart Chilton really is a white hat and cannot get the other 4 commissioners to do their jobs (paid for by public taxes), he should resign”.  He should not only resign but he should go “whistleblower”.”
     
    Probably because he does not wish to, um, have an “accident” or die suddenly from planted info about a previous “heart condition”?
     
     
     
     

    • Well Folks, we’ve got almost 5 free years for BitCoin before his investigation even threatens to cause any real questions to be taken seriously… if history is any guide, BitCoin has a 4-5 year “Chilton Put” FREE PASS!!!!
      Anyone want to take wagers on what goes away first?  The US Dollar?  Or Bitcoin??
      My money’s on (but not IN) Bitcoin to outlast the dollar… at least until they print a 100billion dollar note!!!
      GO WEIMAR!!!   GO ZIMBABWE!!!  GO  US DOLLAR!!!

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