CNBC invited Chris Whalen of Tangent Capital onto Squawk Box to discuss JP Morgan’s Q2 earnings report July 13th, the widening LIBOR scandal, and the European debt crisis.
Shockingly, at 9:26 into the clip, the CNBC host Andrew Sorkin (not Whalen, the CNBC host Sorkin!) brings up Barclays’ manipulation of LIBOR rates, and states: ‘You hear about these things and you used to think these are conspiracy theories! You used to hear things that people are manipulating LIBOR, people are manipulating the silver markets-
CNBC’s Michelle Caruso-Cabrera: ‘And they are!!‘
Sorkin: ‘And they are!!‘
Chris Whalen: ‘It’s because these markets have become so concentrated that a few players can do it.‘
It appears Blythe and JP Morgan’s Commodities Desk have a serious issue on their hands, as now even CNBC hosts are openly admitting that silver is manipulated and that silver manipulation is a fact, and NOT a conspiracy!