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Silver Market Sees ‘Anomalies’ and ‘Devious Efforts’ - CFTC’s Chilton

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From GoldCore

Silver Market Sees ‘Anomalies’ and ‘Devious Efforts’ - CFTC’s Chilton

Today's AM fix was USD 1,607.00, EUR 1,298.90, and GBP 1,030.33 per ounce.
Yesterday’s AM fix was USD 1,613.00, EUR 1,300.39 and GBP 1,032.39 per ounce.

Silver is trading at $27.88/oz, €22.67/oz and £17.89/oz. Platinum is trading at $1,406.20/oz, palladium at $582.70/oz and rhodium at $1,100/oz.

Gold climbed $0.40 or 0.02% in New York yesterday and closed at $1,611.60/oz. Silver climbed to $28.21 and dipped again but finished with a gain of 0.68%.

Gold initially traded sideways in Asia then dipped below $1,610/oz but then recovered and has traded in a range between $1,605/oz and $1,610/oz.


Gold Prices/Rates/Fixes /Volumes – (Bloomberg)

Gold edged down on Wednesday on profit taking after sustaining 3 days of gains which saw gold creep slowly above the $1,600/oz level again.

Recent dollar strength and a lack of clarity in the minds of many market participants regarding whether the ECB or the US Federal Reserve Bank will employ more quantitative easing to prevent double dip recessions and even depressions may be partly to blame for gold’s lack of gains recently.

However, the dollar is set to weaken again due to the appalling US fiscal situation and further quantitative easing and money printing on behalf of the FED, ECB and BOE is almost inevitable.

Eric Rosengren, a Boston Fed Bank President, made comments that the US Fed should launch QE3 to prevent recession and ultra ‘dovish’ or uber accommodative monetary policies are set to continue which is bullish for gold.

Other macro data and developments were also gold positive and likely to lead to safe haven demand.

Standard & Poor’s downgraded Greece’s sovereign rating to negative and a Greek default continues to be almost certain – with the attendant risk of contagion in the European and global financial system. 

Italy sank further into a recession as its Q2 ranked in 2.5% yearly decline. German industrial orders surprised on the downside for June showing the contagion is not felt by European so called ‘PIIGS’ alone.


Gold Spot $/oz Daily,10/08/07-08/08/12 - (Bloomberg)

The Bank of England has slashed growth forecasts to zero and inflation predictions again. The BOE has been overly optimistic on growth and wrong regarding inflation for some time and looks set to continue to be so. 

As long as governments and central banks continue to pile debt upon debt and substitute sovereign debt for financial and banking debt – the crisis will continue.


XAU/GBP Exchange Rate Daily  - (Bloomberg)

A proper diagnosis is necessary before applying the right remedy. Central banks continue to deal with the symptoms of the crisis and not the causes. As any doctor will tell you, that is not in the patient's long-term interest and risks making the illness worse – and potentially fatal.

A debt crisis will never be solved by creating more debt. Gold remaining not far from record highs in most fiat currencies shows this and the consolidation of recent months has set the stage for a marked increase in prices in the coming months.

Real diversification remains crucial and those who have allocations to gold will continue to be rewarded.


XAU/EUR Exchange Rate Daily, 09/08/10-08/08/12 - (Bloomberg)

Silver Market Sees ‘Anomalies’ and ‘Devious Efforts’ - CFTC’s Chilton

The silver market was affected by “devious efforts” to move the price of the precious metal, according to Bart Chilton, a member of the U.S. Commodity Futures Trading Commission, as reported by Bloomberg.

“I continue to believe, consistent with my previous statements and information from the public, that there have been devious efforts related to moving the price of silver,” Chilton said by e-mail today in response to questions from Bloomberg. “There have also been silver and gold market anomalies outside of the silver investigate window that have raised, and continue to raise, market concerns.”

The enforcement division of the Washington-based agency, the main U.S. overseer of derivatives markets, began pursuing allegations of manipulation in the silver market in September 2008. 

Investigators have analyzed more than 100,000 documents and interviewed dozens of witnesses, the CFTC said in a November 2011 statement. Chilton said last month the investigation may be completed as early as September.

In a story published Sunday, the Financial Times stated, "A four-year investigation into the possible manipulation of the silver markets looks increasingly likely to be dropped after US regulators failed to find enough evidence to support a legal case.” 

The FT based their story on three unidentified people “familiar with the situation."

However, Steve Adamske, a CFTC spokesman, said on the silver investigation that “we will decline to comment because the commission has not decided a course of action on this matter.” 

One of the identified targets of the current CFTC silver market investigation has been JP Morgan Chase and some have long voiced concerns that the concentrated short positions held by some banks, including JP Morgan, could allow manipulation of the price and price capping. 

This could result in a massive short squeeze which propels prices much higher leading to further massive losses for ‘too big to fail’ and ‘too big to bail’ banks should the small silver market see sharp moves upwards due to the tight physical market.

For breaking news and commentary on financial markets and gold, follow us on Twitter.


Cross Currency Table – (Bloomberg)

NEWSWIRE
(Thomson Reuters Gold Forum) – India Gold Demand Slow
India's gold demand at the start of the festival season has been slow with rural buyers staying on the sidelines, preferring to hold on to their cash at a time when deficient monsoon rains threaten to dent their incomes.

(Bloomberg) -- Gold Recovery Seen by Deutsche Bank From More Dollar Weakness
A “meaningful recovery” in gold may occur with further weakness in the dollar, Deutsche Bank AG said.

“We still view the ongoing underfunding in the U.S. external deficit as the dollar’s Achilles heel and one of the factors that could drive gold prices higher,” Michael Lewis, an analyst at Deutsche Bank, said in a report dated today.

(Bloomberg) -- Russia’s First-Half Gold Output Falls 2.4% to 79.2 Metric Tons
Russia’s first-half gold output fell 2.4 percent to 79.2 metric tons, led by a decline at Kinross Gold Corp.’s mine in the Chukotka region, the country’s Gold Producers’ Union said today in a statement.

(Bloomberg) -- Gold in Euros Seen Climbing to All-Time High: Technical Analysis
Gold priced in euros may reach a record in the next six months after sliding toward a support area comprising several key levels including the 200-day moving average, according to a technical analysis from Commerzbank AG.

Gold denominated in euros continues to come off its peak at end-July and is slipping toward 1,283.70 to 1,274.70, an area of support made up of the 55-day moving average, the May-to-August support line, the lows seen in mid-July and the 200-day moving average, technical analyst Axel Rudolph wrote in a report.

Gold priced in the 17-nation currency reached an all-time high of 1,374.76 euros on Sept. 12, 2011, according to Bloomberg data. It peaked this year at 1,344.39 euros on Feb. 22, Bloomberg data show. Support levels are marked by clusters of buy orders, according to technical analysts, who say that past moves may be used to predict trends.

The long-term resistance at 1,325.30, made by a straight downward sloping line joining the September and February peaks, is expected to give way before the end of September with an advance towards the highs in February then being “on the map,” Rudolph wrote in a report dated yesterday.

“While trading above the 200-day moving average, our medium term outlook will remain bullish,” he wrote. “A new all-time high above that seen in 2011 is expected to be seen within the next half year or so.”

Bullion is poised to extend an 11th year of gains on expectations that central banks around the world will add further stimulus to boost economic growth hurt by Europe’s debt crisis. Euro-denominated bullion traded at 1,299.20 an ounce at 11:42 a.m. in Singapore, while gold priced in dollars was at $1,610.15 an ounce.

NEWS
Gold slips with demand for safe havens - MarketWatch

Gold flat, volume low; investors wonder about central banks - Reuters

Tanzania Gold Exports Up 30% in Year Through June, Bank Says - Bloomberg

Gold Snaps Three-Day Advance as Dollar’s Strength Damps Demand - BusinessWeek

COMMENTARY
Is gold getting ready for take-off? - MarketWatch

When will the European gold shops stop buying and start selling gold? - GoldSeek

Gold And Grand Theft Economics – Zero Hedge

Europe's Scariest Chart In More Detail - Zero Hedge

Gold rush in India? Government steps in again - Mineweb

 


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Wed, 08/08/2012 - 08:46 | Link to Comment Badabing
Badabing's picture

Say it isn't so!

Wed, 08/08/2012 - 08:52 | Link to Comment Pladizow
Pladizow's picture

Asking the CFTC if there was manipulation is like asking JPM if they manipulated the market!

Wed, 08/08/2012 - 09:01 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Correct, and Blythe already told everyone that would be "illegal" (in today's regulatory-capture world of course).

Wed, 08/08/2012 - 09:26 | Link to Comment Short Memories
Short Memories's picture

Was it this article that's kicking the price up???

One more time please! :)

Wed, 08/08/2012 - 10:20 | Link to Comment strannick
strannick's picture

Who cares about Chiltons hand wringing sympathy while silvers crime in progress continues. If a years worth of production sold short on the COMEX isnt convincing evidence enough for these CFTC dummies, then either disband the moronic CFTC, or throw CFTC Commisioners Jill Sommers, Scott OMalia, Bart Chilton and Gary Gensler in jail for the felonious billion dollar crime they have seemingly helped perpetrate.

Perhaps one day, a plaintiff will be granted discovery, evidence will be revealed, and som or all of these CFTC Commisioners will be in prison. Remember how retiring CFTC Justice Painter revealed that former CFTC Chairman Wendy Gramm allegedly told another CFTC Justice never to rule in favor of a plaintif claiming manipulation. It seems the current CFTC Commisioners have inherited Wendy Gramms legacy, and continue her despicable scheme.

bchilton@cftc.gov

ggensler@cftc.gov

jsommers@cftc.gov

somalia@cftc.gov

Wed, 08/08/2012 - 10:33 | Link to Comment AL_SWEARENGEN
AL_SWEARENGEN's picture

"One of the identified targets of the current CFTC silver market investigation has been JP Morgan Chase and some have long voiced concerns that the concentrated short positions held by some banks, including JP Morgan, could allow manipulation of the price and price capping. 

This could result in a massive short squeeze which propels prices much higher leading to further massive losses for ‘too big to fail’ and ‘too big to bail’ banks should the small silver market see sharp moves upwards due to the tight physical market."

 

To hear this quoted by a chief cocksucker organization like Bloomberg means the truth IS getting out.  These asshole manipulators can only continue to function in the dark surrounded by secrecy.  Either way the CFTC shakes out with this investigation, at the end of the day any MSM coverage is good coverage.  The truth is our best weapon.  

Wed, 08/08/2012 - 10:51 | Link to Comment strannick
strannick's picture

Here's how its done. Lawsky shows these corrupt bumblers how to get to the bottom of things. Any time the Fed and Treasury are ''blindsided and angered'' you know your doing it right. At the end of the article, the reporter confuses ''public shaming'' with ''bankster shaming''

The Treasury Department and Federal Reserve were blindsided and angered by New York's banking regulator's decision to launch an explosive attack on Standard Chartered Plc over $250 billion in alleged money laundering transactions tied to Iran, sources familiar with the situation said. 

By going it alone through the order he issued on Monday, Benjamin Lawsky, head of the recently created New York State Department of Financial Services, also complicates talks between the Treasury and London-based Standard Chartered to settle claims over the transactions, several of the sources said.

 Lawsky's stunning move, which included releasing embarrassing communications and details of the bank's alleged defiance of U.S. sanctions against Iran, is rewriting the playbook on how foreign banks settle cases involving the processing of shadowy funds tied to sanctioned countries. In the past, such cases have usually been settled through negotiation - with public shaming kept to a minimum.

Wed, 08/08/2012 - 14:43 | Link to Comment fockewulf190
fockewulf190's picture

So Timmah and the Bernank are pissed they couldn't forwarn their partners in crime over at Standard BS. Too fucking bad. It's about time someone got their balls stepped on. I'm sick and fucking tired of these pricks backing up the status quo.

Man do I wish Ron Paul had a chance. These fuckers would be so history.

Wed, 08/08/2012 - 11:26 | Link to Comment runlevel
runlevel's picture

maybe blythe was telling the truth.. JPM  isnt short silver... they are just the middle man for their customers... (The US Govt)

Wed, 08/08/2012 - 09:22 | Link to Comment CrawdadMan
CrawdadMan's picture

but, but the CFTC are supposed to be the good guys. See, they are investigating JPM for silver market manipulations. Only a good guy would do such a thing.

Wed, 08/08/2012 - 08:46 | Link to Comment Robot Traders Mom
Robot Traders Mom's picture

88th Floor of 1 World Trade Center on Fire.

Wed, 08/08/2012 - 08:53 | Link to Comment MsCreant
MsCreant's picture

They are saying it may be false alarm. Article has other sickening observations however.

http://tinyurl.com/92krzx5

Wed, 08/08/2012 - 08:56 | Link to Comment Robot Traders Mom
Robot Traders Mom's picture

Nice work NBC-make me look like a jagaloon.

Wed, 08/08/2012 - 09:00 | Link to Comment Badabing
Badabing's picture

looking out the window now all looks fine.

Wed, 08/08/2012 - 09:22 | Link to Comment Sofa King Confused
Sofa King Confused's picture

Fire at 3 Lafayette Center, Washington, D.C  ( CFTC Headquarters ) all evidence about silver manipulation destroyed

 

\sarc\

Wed, 08/08/2012 - 09:36 | Link to Comment francis_sawyer
francis_sawyer's picture

"88"th floor?... on 8/8?... Just before 8AM?...

 

Wed, 08/08/2012 - 09:55 | Link to Comment i-dog
i-dog's picture

Good grief!  ... It's the Chinese this time ... instead of the, er, "raghedz"! Timberrrrrrrr....

Wed, 08/08/2012 - 09:57 | Link to Comment francis_sawyer
francis_sawyer's picture

From WIKI ~

~~~

In popular culture

  • The completed tower can be seen, along with the other completed World Trade Center towers, in the 2011 video game Call of Duty: Modern Warfare 3, which is set in 2016.
  • The tower is seen under construction in the 2012 film The Dictator during a helicopter tour of New York City.
  • At the end of the 2012 film Men in Black 3, when main character J stands atop the Chrysler Building, the tower can be seen under construction as the camera pans across the city.
  • The unfinished tower can be seen in the 2012 film The Dark Knight Rises as part of the Gotham City skyline.
  • An animation of the Lower Manhattan skyline, including the completed tower and World Trade Center site, is seen when the circus arrives in New York City in the 2012 film Madagascar 3.
  • Two duplicate Freedom Towers are seen completed in the future New York skyline in the 2030s in the 2006 film Click.
  • The completed tower can be seen, along with the other completed World Trade Center towers, in the 2008 film Babylon A.D., where the High Priestess has her office in Two World Trade Center.
  • The completed tower is seen in a war-torn Manhattan in the year 2021 in the Fringe episode The Last Sam Weiss. It seems to show that in this series' universe, the National September 11 Memorial & Museum was not dedicated until 2021, though in reality, the memorial was dedicated in 2011.
Wed, 08/08/2012 - 12:51 | Link to Comment A Nanny Moose
A Nanny Moose's picture

Ba Ba. Fathers' Day in China....or someone let the sheep outta their pen again.

Wed, 08/08/2012 - 10:45 | Link to Comment El Oregonian
El Oregonian's picture

Wow, thats weird 'cause I just ATE!!!

Wed, 08/08/2012 - 23:59 | Link to Comment MsCreant
MsCreant's picture

I saws dat.

Wed, 08/08/2012 - 08:59 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"The fire department says the situation “probably will hold.”

Well thank God. Three steel framed skyscrapers at this very location totally collapsed from fires a little more than 10 years ago. Been there, done that.

/sarc

Wed, 08/08/2012 - 08:47 | Link to Comment Jlmadyson
Jlmadyson's picture

Deeper and deeper into the rabbit hole.

Wed, 08/08/2012 - 09:15 | Link to Comment malikai
malikai's picture

Silver's come back in.

http://www.quantsig.net/img/com_silver.png

Gold's also holding near zero.

http://www.quantsig.net/img/com_gold.png

EDIT: Public Console is running Gold, as usual. We're getting some pretty decent short term signals here today.

https://www.quantsig.net/

Wed, 08/08/2012 - 08:48 | Link to Comment vinu02
vinu02's picture

Fireworks will begin next week when italy and greece needs to make payment. http://bit.ly/QEqCCx 

Wed, 08/08/2012 - 08:49 | Link to Comment scatterbrains
scatterbrains's picture

Watch them announce it was Sprott trying to corner the market lol

Thu, 08/09/2012 - 05:39 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Enemy of the state......he must be stopped.

 

Wed, 08/08/2012 - 08:49 | Link to Comment MsCreant
MsCreant's picture

Die JPM, Die.

Fuckers.

Wed, 08/08/2012 - 09:48 | Link to Comment Diet Coke and F...
Wed, 08/08/2012 - 13:54 | Link to Comment MsCreant
MsCreant's picture

That works quite well, thanks!

Wed, 08/08/2012 - 16:23 | Link to Comment Diet Coke and F...
Diet Coke and Floozies's picture

Always glad to help... :P

Wed, 08/08/2012 - 08:50 | Link to Comment Crispy
Crispy's picture

Physical mkt is just fine from where I stand. Fuck the paper...

Wed, 08/08/2012 - 08:53 | Link to Comment Monedas
Monedas's picture

There's no manipulation .... just a little "stabilization" .... that's all !

Wed, 08/08/2012 - 09:01 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"When it becomes serious, you have to lie." - Juncker

Wed, 08/08/2012 - 09:02 | Link to Comment Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Yes, like inflation, a "little bit" of manipulation is good for the market!

 

Tuco

Wed, 08/08/2012 - 08:54 | Link to Comment silvertrain
silvertrain's picture

The Silver show will get real when the supply is shown for what it is..When company x needs there metal to make a fuckin solar panel or Ipad and there order is not there thats when panic sets in and it blows its load,Rodium like..

Wed, 08/08/2012 - 08:56 | Link to Comment LoneStarHog
LoneStarHog's picture

Hey, GoldCrap, not ONCE did the criminals at the CFTC interview TED BUTLER nor ANY of the other top silver analysts who have been collecting data for DECADES, especially GATA.

Gee! Why would the CFTC exclude CREDIBLE witnesses WITH data?

Understand, GoldCrap?

Wed, 08/08/2012 - 08:59 | Link to Comment Pladizow
Pladizow's picture

The CFTC does not work for the prosecuters, but the defendents!

Wed, 08/08/2012 - 08:56 | Link to Comment LongSoupLine
LongSoupLine's picture

Chilton is chasing pipe dreams...after all I did watch the Blythe interview, and she personally assured me the JPM is on the up and up. /sarc/

 

On another note, in the past I have emailed Bart my personal chart findings regarding silver manipulation.  To his credit, he did reply thanking me for the info.  Whether he used it or not?...who knows, but at least he was responsive.

Wed, 08/08/2012 - 08:58 | Link to Comment GolfHatesMe
GolfHatesMe's picture

Perhaps reviewing the COMEX self clearing process documents, Bart? 

Wed, 08/08/2012 - 09:14 | Link to Comment LoneStarHog
LoneStarHog's picture

I have sent Chilton TONS of daily data, to which he responded that it would IMMEDIATELY be forwarded to the investigative team ... Yeah! ... For the better part of a year I even published a cartoon-type campaign, with the assistance of Ted Butler, exposing and mocking the criminals at the CFTC, using daily data that showed illegal manipulation that any IDIOT could see. For example> http://www.flickr.com/photos/20144722@N04/3193740089/in/photostream

Wed, 08/08/2012 - 17:59 | Link to Comment StychoKiller
StychoKiller's picture

It's difficult to get someone to understand something when they're being paid NOT to understand it...

Wed, 08/08/2012 - 08:57 | Link to Comment Jlmadyson
Jlmadyson's picture

Nothing good going on at Morgan Stanley;

 

http://www.cnbc.com/id/48477880

Wed, 08/08/2012 - 09:06 | Link to Comment tocointhephrase
tocointhephrase's picture

Would you like a violin with that?

Wed, 08/08/2012 - 09:04 | Link to Comment chinaboy
chinaboy's picture

If, someday, it is found out that the silver market is as manipulated as, say, liebor, it will be interesting to see why the CFTC "dropped" the INVESTIGATION (why they choose to look the other way). The CFTC may want to freeze the matter. But  the FT story makes it harder.

 

Good work, goldcore.

Wed, 08/08/2012 - 09:06 | Link to Comment buzzsaw99
buzzsaw99's picture

Round up the usual suspects. [/Renault]

Wed, 08/08/2012 - 09:07 | Link to Comment pan
pan's picture

Silver bitchez!

Wed, 08/08/2012 - 09:08 | Link to Comment lsbumblebee
lsbumblebee's picture

It took Captain Obvious 4 years to figure that out.

Wed, 08/08/2012 - 09:17 | Link to Comment johnnymustardseed
johnnymustardseed's picture

They will do what is necessary to protect the fiat.

Wed, 08/08/2012 - 09:17 | Link to Comment eddiebe
eddiebe's picture

The truth is starting to leak out: Governments manipulate all markets.

Wed, 08/08/2012 - 09:24 | Link to Comment bigdumbnugly
bigdumbnugly's picture

and that is the reason jpm is in this knee deep.

implementing and covering for the gov's suppression schene.

thus cftc, sec of no use of course.

if the courts are also captured i really don't see the daylight at the end of this tunnel yet.

Wed, 08/08/2012 - 10:25 | Link to Comment Pegasus Muse
Pegasus Muse's picture

Good discussion.  Powell contends that JPM wouldn't be taking the positions it is taking without explicit government backing (access to unlimited Bernanke Bucks).

 

GATA's Chris Powell on the silver manipulation probe & Fed gold audit

The Financial Times reported US regulators are increasingly likely to drop the four-year investigation of silver manipulation, failing to find enough evidence. Bart Chilton, CFTC Commissioner, told a Motley Fool reporter that this FT report is premature and inaccurate. We find out what Chris Powell, co-founder and treasurer of the Gold Anti- Trust Action Committee, thinks. ....

http://rt.com/programs/capital-account/chilton-fed-gold-audit/ 

Wed, 08/08/2012 - 09:32 | Link to Comment Monedas
Monedas's picture

Harvey Organ should be an interesting read today .... if you can read that shop gibberish ?          Monedas       1929        Comedy Jihad .... Day Star,  I Offer My Humouristic Talent To Spice Up Your Thread !   Just One Condition:  You have to acknowledge that you are using Plain Monedian English over there at Kitco ....   CAVEAT   ON !

Wed, 08/08/2012 - 09:34 | Link to Comment youngman
youngman's picture

I read his blog..for the charts of the comex......and to me ..lots of metals leaving the comex....nothing coming in to the dealers to settle with..but yet they settle hundreds of tons....how do they do that....customers are just pulling out their metals...at some point it has to be empty with just paper metals left....but yet the totals never change

Wed, 08/08/2012 - 09:42 | Link to Comment Monedas
Monedas's picture

"To be served !" ?   Is that a tennis match or a soup line or a stud barn ?      

Wed, 08/08/2012 - 09:22 | Link to Comment tabernac
tabernac's picture

While I understand that Silver is a relatively small market and therefore easily manipulated, I do not understand the incentive to manipulate the price down only.  Wouldn't you make more money manipulating the price both up and down? Also from a political perspective, Gold, Oil, Gasoline, and even Copper are more significant commodities to keep low.  Don't get me wrong, I understand that JPM had huge short positions and probably manipulated lower for a while, but why wouldn't they flip sides from short to long and vice versa?

Wed, 08/08/2012 - 09:37 | Link to Comment Monedas
Monedas's picture

The government doesn't need to make money with their manipulations .... but they probably do !   They have a much bigger fish to fry .... keep the Ponzi going !         Monedas       1929       Comedy Jihad World Tour .... Banned In Boston

Wed, 08/08/2012 - 09:36 | Link to Comment youngman
youngman's picture

If the Governments allow the PM´s go to market value..it will show how weak their paper money is....and they cannot lose the faith in the dollar or the Euro for that matter...they HAVE to keep up the image

Wed, 08/08/2012 - 09:46 | Link to Comment fuu
fuu's picture

I think you could make the arguement that Johnson meant up and down.

http://www.presidency.ucsb.edu/ws/?pid=27108

"If anybody has any idea of hoarding our silver coins, let me say this. Treasury has a lot of silver on hand, and it can be, and it will be used to keep the price of silver in line with its value in our present silver coin. There will be no profit in holding them out of circulation for the value of their silver content. "

Wed, 08/08/2012 - 10:52 | Link to Comment web bot
web bot's picture

Make the market, sell the market, make the market, sell the market.

The sheeple provide the funds for the losing side of the bet on both sides of make and sell.

sainte estie!

Wed, 08/08/2012 - 12:30 | Link to Comment BigJim
BigJim's picture

 ...Also from a political perspective, Gold, Oil, Gasoline, and even Copper are more significant commodities to keep low...

Anyone who has spent any time looking at the evidence agrees the price of gold is capped, as well.

The difficulty with keeping gasoline, oil, and copper prices in check is that the stock relative to the flow is too low.

Wed, 08/08/2012 - 09:22 | Link to Comment aka Gil
aka Gil's picture

Bart Chilton: Committed to making it appear as if the CFTC gives a shit about regulating commodity markets.

Wed, 08/08/2012 - 09:26 | Link to Comment nah
nah's picture

every time I look at my jrs i get angry... should have gone pure physical, at least I wouldnt have to worry about business climate credit and whatever

Wed, 08/08/2012 - 09:28 | Link to Comment tocointhephrase
tocointhephrase's picture

That stack is getting heavy :)

Wed, 08/08/2012 - 11:24 | Link to Comment Rubicon
Rubicon's picture

So is my sack! ;o)

Wed, 08/08/2012 - 09:41 | Link to Comment FunkyOldGeezer
FunkyOldGeezer's picture

China via JPM are the bad boys here, when it comes to Silver. They want to obtain as much as possible to stockpile for manufacturing etc and naturally want it at a reasonable price.
When and where did that huge sell-off begin a year and a few months back ????? Clue: Far east markets, during a western public holiday within 5 minutes of opening.

 

Wed, 08/08/2012 - 10:02 | Link to Comment Bastiat
Bastiat's picture

 

"reasonable price?" 

No they don't want to pay a reasonable price; that's why the price is suppressed.   The want the metal cheap and they want the mines cheap. 

Wed, 08/08/2012 - 10:19 | Link to Comment Platinum_Investor
Platinum_Investor's picture

But that is also the easiest time for the US manipulators to do their thing.  You think they are not awake or something at that hour?  lol

Wed, 08/08/2012 - 10:50 | Link to Comment Bastiat
Bastiat's picture

US and China on the same page.  "Our paper's not worthless: look at all the gold and silver it buys." 

Wed, 08/08/2012 - 10:18 | Link to Comment Platinum_Investor
Platinum_Investor's picture

The US gov. controls everything.  The CFTC only takes orders from them.  You know Silver and Gold will be continued to be manipulated.  The only hope is that China, India, Russia and the rest of the SOLVENT world buys up enough and buys the exchanges (as China has) to start making a change.  The US regulators body will not.

Wed, 08/08/2012 - 10:48 | Link to Comment bubbleburster
bubbleburster's picture

The weeks roll by and there seems to be no end to the surfacing scandals.  It's as if some previously missing spot light has finally turned on and the rats are scurrying into the sewars as fast they can; occassionally one of them is caught and we shreak.  What I just cannot get my head around is the apparent depth and width of utter corruption and criminality in the global financial world.  I might be an optimist, a fool or just naive, but if this is the way the world is, then perhaps it won't end in a whimper after all. It might all end with a big bang.  Not the nuclear bang, God forbid.  Just a financial collapse with equally disasterous repercussions....

What a crazy world we have created.

Wed, 08/08/2012 - 12:36 | Link to Comment Nage42
Nage42's picture

You've precicely hit on the point... that there should be a rapid and building exposure [of things that people in the known have known for years].

It's not that it IS being uncovered, it's that it's being uncovered NOW, all in succession.

 

It's called fear building and self-substantiation so that some global super-regulator (read central bank) can impose rules [read: close all the exits to the rigged game].

 

Figure the next "OMGWFT?!?!" moment has to be another massive fraudclosure that threatens millions of yanks to loose their homes, then the FED will step in and declare a new world regulator to "protect the people from these evil bankers," oh the irony.

 

 

Wed, 08/08/2012 - 13:07 | Link to Comment bubbleburster
bubbleburster's picture

I keep on coming back to that wonderful Frontline documentary I've watched several times now about how Brooksley Born (don't ask me about how it's spelt) and how she was slammed into the boards by Alan Greenspan, Geitner the pit bull and with an assist from Bernanke.  History proved them all wrong, complete idiots and her failure to ensure regulation against derivatives cost the world what it did.  Bastards.....What is needed is to have Glass Steigle put back, the TBTF banks busted up like AT&T, IT&T and even JPM were broken up years ago (i've read a very good book called "The House of Morgan" which covers that early history of JPM very well.)  The regulators have to be properly funded and given a take no prisoners agenda.  Maybe this new accusation against British bank Standard is the first shot in the new war against the banks?  I mean, the US has funded a fake, phony but ruinous war against drugs and (post W. Bush) against terror, all being complete waste of resources.  It is tempting to be as skeptical about a war against the banks.....perhaps a contradiction if there ever was one.

Wed, 08/08/2012 - 11:00 | Link to Comment Ted Baker
Ted Baker's picture

FACT 10:- JP MORGAN HAS BEEN MANIPULATED SILVER AND GOLD SINCE 2007 PERIOD

Wed, 08/08/2012 - 12:07 | Link to Comment tradewithdave
tradewithdave's picture

We're considering launching a separate blog dedicated to Bart.  Not the Simpsons... Chilton.  If it's just a fad, then forget it.  If it's good for another four years and another 75 articles, we should probably spin it out into a separate media property. We could challenge Business Insider. What do you think?

www.tradewithdave.com

 

Wed, 08/08/2012 - 12:15 | Link to Comment Conax
Conax's picture

 

In the dark days before the empire assumed total financial control, government bureaucrats drove cheap cars. Plain hub caps, AM radio, the works. They were limited by having to tax the people directly for these things.

Look at them now with those shiny black Expeditions with dark tinted windows, and every option checked on the order form. Fat paychecks, fat retirement.  This is how they intend to roll f'om nowon.

The regulators get an apartment in Mt. Weather if they keep the champaigne flowing, and they'll be found with kiddy-porn if they don't.

Wed, 08/08/2012 - 13:10 | Link to Comment Vooter
Vooter's picture

Good--keep the price down. I need more...

Wed, 08/08/2012 - 13:18 | Link to Comment shovelhead
shovelhead's picture

Bart's job is like being an enema nurse.

No matter how you do your job, you're gonna get shit on you.

Wed, 08/08/2012 - 13:43 | Link to Comment Joebloinvestor
Joebloinvestor's picture

When is Gensler gonna recuse himself from this shit?

 

Lying fucker ought to be fired and prosecuted.

Wed, 08/08/2012 - 13:57 | Link to Comment Yits and the Yimrum
Yits and the Yimrum's picture

Chilton throes a bone to the Muppets

Silver manipulation Bitchez

Tylers, We need more articles and ideas on black market silver trading for Muppets

Wed, 08/22/2012 - 10:03 | Link to Comment Silversem
Silversem's picture

In my opinion silver is best for trading. As we say in Holland: in zilver handelen

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