Brendan Hoffman/Bloomberg News
CFTC’s Chilton Sees Silver Probe Concluding by September or October
As CFTC Commissioner Bart Chilton advised SD readers back in May, Chilton informed Bloomberg today that he expects the CFTC’s silver probe to conclude by the end of the year, likely by September or October.
Chilton, who didn’t say whether the probe has uncovered evidence of manipulation, said previously that there had been “repeated attempts” to influence prices.
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BA …hahahahahahahahahahahahahahahah
Believe it when & if it happens
& when September gets here …..he will be talking about the first of the new year
More like an anal probe from economic aliens.
Chilton et al are complicit in these and other crimes. To admit to manipulation of silver – would signal the end of the dollar. Do you really think this is going to occur… ever?
This guy sounds like Drake, droning on an on about mass arrests.
a 4 year investigation, currently the longest running in US government history, is one that is designed to never be completed. 4 years? We’re to believe this is more complex than the 911 whitewash? Apparently so when it’s revealed the silver suppression scheme is a government sanctioned operation. I’m sure something will pop up to make this the least of our worries. However, we do not forgive, nor do we forget. I like the rest of you will believe it when I see it.
LOL. Yup, I thought the gist of responses would be like this. I think JPM stopped shorting the market for the first half of 2011, cause they thought they could be found guilty. Then after it started back up, that tells me all will be swept under the rug, and we’ll schedule the results to be released, about the time we let the markets all go to hadies in a hand basket. It will be back page news on a Saturday edition. Why does that guy give me the impression he’s a televanglist?
Why does that guy give me the impression he’s a televanglist?
Because he looks like one & blows smoke up the publics A$$ like one
It’s a miracle…or more like a nightmare. Ted Butler finally comes to the conclusion we’ve all suspected for some time now: “It
has taken more than 25 years for me to fully comprehend a conclusion
that I never wanted to reach, namely, that there is an organized war
against the price of silver that has come to include the US Government. I
think the US Government involvement came into being almost accidently,
but even if it was an accident of sorts, that does not diminish the
serious nature of what must be described as illegal activity at the
highest levels. I am conflicted between feelings of sadness and outrage.”
The War on Silver
W6 10-4 on your comments. I caught that statement from Butler too. Normalcy bias aside, that is a long, long time for an intelligent person to come fully to grips with the fact that the entire universe of governments and banks are involved in vast and nearly invisible conspiracies on every level, in every commodity worth mentioning and always and forever doing this in spite of the clear and deliberate damage it causes the ordinary Joes and Janes of this world. Heck, as a former bank it took me 3 years to get my brain wrapped around this and it still surprises me to the extent of the BS we are experiencing every day. There is one piece of good news. These bastards know the jig is up and we are on to them. There is hope.
I attended a conference just to hear Ted Butler speak. We all know his creditials and reputation. He is the expert on silver manipulation. However, I came away from his talk with the feeling that he just did not understand how evil to the core these people are. He was always holding out hope that they would come around. Sorry Ted, they are sociopaths. They just do not care. They actually enjoy hurting people. That’s how evil they are. Now that more time has passed I am glad to see he has come out publicly addressing the evil.
Probably less than 0.01% (1 in 10,000) have any significant funds in either of these metals so what’s the big deal about allowing it to trade at a non-manipulated price? The number of silver and gold investors is only growing as more banks and governments have major debt problems.
It wouldn’t be the first time that the verdict is something like “well, yes, they broke the rules but they were stupid enough as to make no accumulated profit on it, so it’s not a crime”. As if there were no victim.
We’ve heard that one more often lately, haven’t we.
Or: “The people were better off”.
Jamie Dimon becoming Treasury Secretary under Obama 2.0…. possibly.
Greetz y’all!
R3K
@UglyDog: Many people don’t get how evil others can be. That’s because they are good people.
But also: I think many people don’t realize how easy the thin veil of humanity can be pulled off and then many good people are going to easily be pulled into doing evil things.
We’re a strange breed. Are we so fabulous that we just can afford to flirt with our undoing or are we so miserably that we just want to be destroyed.
Pff. That’s deep enough for now. Night all!
R3K
My email to the CFTC:
Dear Commissioners,
I am excited to hear that you will finally be bringing the four year long Silver investigation to a conclusion. I hope that you do the right thing.
It is my suspicion that the Silver market is obviously rigged. During the last week of June 2012 the Silver Comex volume was approximately 90,000 contracts per day for several days. I find this volume extremely suspicious as it is the paper equivalent of 450 Million ounces of Silver trading hands per day, or 10 times the annual United States gross mining supply, or over one half of the global annual gross mining supply, or approximately one half of the entire global above ground Silver stockpile according to many experts. I suspect that these high volumes are due to high frequency trading computers that are selling back and forth to each other in order to rig the price. No other commodity has volumes nearly as high as Silver (as a % of Open Interest).
It is also of concern that the CME raised margins on Silver 5 times in 9 days when the Silver shorts lost control of the Silver price in April of 2011.
By the way, why is Jon Corzine not in jail?
Yours Truly,
4 years to come up with
“We did it to protect the economy” or some other BS excuse.
“if the CFTC were to shock the market and actually report that silver
has in fact been manipulated, look for JPM to be well aware of the
CFTC’s findings prior to the announcement and do everything in their
power to extricate themselves from their remaining short positions in
the weeks before the CFTC announcement is made.”
and just why would that be? that would somehow remove threat of penalty?
probable scenarios in the real world:
a) no conclusive fault will be found. nothing to see here. go away.
b) irregularities found but too convoluted to take action on at this time (read: another 4+ year probe)
c) criminal intent found but timed to release with even more catastrophic market and economic news so as to relegate the manipulation of such a small market to the back pages. l o n g delays in administering justice (if ever).
d) (and least likely) bart chilton being grabbed by the mullet while gang raped in the pokey. gary gensler doesn’t have a mullet to hang on to but rumors are he might not offer resistance anyway.
for whatever reason everything has gradually and then all of a sudden become corrupt to the core.
Groundhog day again. Amazing how G&S can bounce in such a tight trading range, day after day, when the financial world is in the worse condition in history. And not getting better by any stretch of the CPI numbers, or others they rig.
AGXIIK: To be fair Butler didn’t have the internet and other trailblazers to go by.
Widget I agree. It’s is easy to be critical and ask why someone did not see the corruption and criminal behavior. It’s easy to say in 20/20 hindsight ‘How could we have missed that’ Sociopaths, and I include most in the financial arena today, are extraordinarily good at concealing their actions in a welter of figures and very convincing lies plus buying politicians by the car load to run high cover for them.
Butler is no different than dozens of other 40 year veterans in the PM business who are getting their asses kicked, their assets stolen and their belief systems struck down. Just ask the owners of silver and gold mines how that nationalization thing is going. If they knew then what they know now, I bet they would have not invested $50 million of their own money as well as that of their investors funds After seeing so many people have their belief systems shattered along with their entire fortunes, I am very untrusting of the slick snake oil peddlers running their BS. And Butler did see the manipulated much sooner than most, going back 4 years, and started yelling about it when he saw it. We are smarter for it.