CFTC Confirms Its Complicity

173
Wed, Sep 25, 2013 - 12:37pm

In what can't be termed a surprise, Reuters reports today that the CFTC is prepared to close it's silver investigation.

In the end, why should this surprise anyone? They've covered up the manipulation for five years. If they were to act now, they would be opening themselves to liability based upon their inaction. All they can do now is cover up and hope that the entire issue slips away into irrelevance.

The institutions of government are hopelessly corrupt. I believe fear know now that we are too far down the path of tyranny and corporate fascism to ever be rescued.

TF

From Reuters: https://www.reuters.com/article/2013/09/25/us-cftc-silver-idUSBRE98O0SR20130925

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.

The full CFTC statement is here: https://www.cftc.gov/PressRoom/PressReleases/pr6709-13

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  173 Comments

Sep 25, 2013 - 12:39pm

From yesterday's post

Worth re-posting:

"Though it's likely that, being firmly entrenched in the back pocket of the TBTF banks, the CFTC will only choose to ignore, delay and obfuscate, we can always hope that one day their collective consciences might get the best of them. Regardless, in the end it won't matter as the sheer weight of the supply/demand distortion will collapse the entire manipulation scheme eventually. In the meantime, just continue to add to your physical stack of metal, taking advantage of the discounted prices brought about by this deliberate bullion bank price manipulation scheme."

achmachat
Sep 25, 2013 - 12:41pm

sad day

did we just lose a battle?

how long is this war going to last?

brad_pitts_betterlooking_brother
Sep 25, 2013 - 12:42pm

"Based upon the law and

"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."

says gensler while licking his chops...

the fox has thoroughly searched the hen house and found no problem at all.

ForWhomTheTollBuilds
Sep 25, 2013 - 12:44pm

As Mr Maquire said

Paraphrasing: The sheer brazenness of the attacks during low volume periods executed by people with no interest in getting a good price indicates government involvement. Even amateurs can see how obvious and consistent these slam-downs are.

Who knows what kind of paper losses stackers will have to sit on before this is over, but this won't be the first ever price suppression scheme that works forever.

Sit tight and be right (.... eventually).

tmosley
Sep 25, 2013 - 12:45pm

Fuck sad day, this is a rally

Fuck sad day, this is a rally to battle! Turd, you must disclose EVERYTHING you know, and convince everyone else involved to do the same.

Les Mis "Do You Hear The People Sing"
pforth
Sep 25, 2013 - 12:45pm

The only way forward...

Is for anyone who has contact with the whistleblowers to contact them and convince them to take their story and evidence public. Snowden didn't try to work with the government...he just went public with everything. That's what we have to do. With incontrovertible public evidence eventually someone will have to act on it.

Fred Hayek
Sep 25, 2013 - 12:46pm

Grammar police make more arrests than CFTC. It should be "its"

There shouldn't be any apostrophe in the "its" in the thread title.

IntuitiveAnalyst
Sep 25, 2013 - 12:47pm

Sorry to hear that...

though not surprised. It seems that more and more it is the lie that parades down the street while the truth hides in the shadow. Being a good steward of what I have been given seems to look more and more like being prepared against thieves and fools on all sides.

Sep 25, 2013 - 12:48pm

And again, here's the thing

At the end of the day, what today's "decision" should confirm for you is this:

Everything you've read, all the "conspiracy theory" stuff regarding governance...is true.

All your darkest concerns about "shadow bankers" pulling the levers of power...is true.

Big money runs the show. There is no "representative republic". It's all just a charade, maintained to keep the masses numbed and quiet.

ForWhomTheTollBuilds
Sep 25, 2013 - 12:48pm

As I was saying over on zero hedge

Assuming Mr Chilton has any integrity he must now come forward.

Problem is, he must have considered what happened to Mr Snowden, who, lets face it, broke news that ought to be of much more immediate concern to every iphone toting American. What we see now is Mr Snowden having thrown his life away for something no one cares about.

Mr Chilton can step into no man's land for the sake of the truth or he can hold onto his relatively comfortable life as he knows it. But no one will be throwing him a parade if he does come forward. It will be a total act of utter self sacrifice before a largely oblivious populace.

I hope he does it, but don't really blame him if he doesn't

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