EVERYTHING IS FINE !!
NOTHING TO SEE !!
MOVE ON !!
It is somehow fitting that on the day when even more undisputed evidence is revealed, surrounding the most brazen market manipulation scheme in history – one involving the “unmanipulable” Libor benchmark rate which serves as the foundation for hundreds of trillions in interest rate sensitive instruments – that the CFTC would also come out moments ago, and announce that in its long-running investigation of alleged manipulation in the silver market… there is absolutely nothing wrong.
The U.S. Commodity Futures Trading Commission on Wednesday said it has closed its long-running investigation into complaints about manipulation in the silver markets, and is not recommending charges.
The CFTC publicly confirmed the probe in September 2008. At the time, the agency had received complaints about whether the silver futures contracts traded on the Commodity Exchange Inc (COMEX) were being manipulated.
“Based upon the law and evidence as they exist at this time, there is not a viable basis to bring an enforcement action with respect to any firm or its employees related to our investigation of silver markets,” the CFTC said in a statement.
Just like that, case closed….
CFTC Concludes “There’s No Silver Manipulation”
Well, that didn’t take long. After Andrew Maguire went public last Friday that the CFTC is holding evidence that JP Morgan manipulated the gold and silver markets, moments ago the CFTC announced it is closing its 5 year investigation into silver market manipulation, and that after 5 years of investigation the CFTC has found:
“Based upon the law and evidence as they exist at this time, there is not a viable basis to bring an enforcement action with respect to any firm or its employees related to our investigation of silver markets.”
Something tells us Mr. Chilton won’t be releasing any contrary statements by the end of September as promised either.
Let the manipulation continue indefinitely until the markets are destroyed!