Friday, March 23, 2012

The CFTC has already done all it can about silver -- and everything else

Chris Powell of the Gold Anti-Trust Action Committee (GATA) writes:  “Drawing on data collected by Nanex, Zero Hedge tonight calls attention to some high-frequency trading done yesterday to smash the price of silver down:

http://www.zerohedge.com/news/catching-silver-crusher-algorithm-act

Some steadfast friends of GATA keep sending notes about such stuff to members of the U.S. Commodity Futures Trading Commission in the hope that the commission's 3-year-old (or is it 4 now?) supposed investigation of the silver market will report evidence of manipulation, and we hate to discourage them. But the delay of the investigation signifies plainly enough that the CFTC knows that what is going on in silver (and gold) is essentially a U.S. government operation implemented through a de-facto U.S. government agency, JPMorganChase & Co., and the commission just can't do anything about it. Not just gold and silver price suppression but commodity price suppression generally long has been U.S. government policy.

Indeed, it's miraculous that the toasted remnants of CFTC Commissioner Bart Chilton, who got GATA's Bill Murphy and Adrian Douglas into the commission's landmark hearing on silver on March 25, 2010, putting the silver suppression scheme on the public record and sparking the metal's sharp ascent, haven't been discovered in a Bessemer converter somewhere. Anybody who wants to know about the suppression of precious metals prices and the purposes behind it already knows or easily can find out. The bigger question is who dares acknowledge it and who doesn't.” – Chris Powell’s coverage continues at the link just below.

Source:  GATA

http://www.gata.org/node/11159 

 


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