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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!