CFTC Confirms Its Complicity

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.


From Reuters:

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:

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Sep 25, 2013 - 3:19pm

Thanks TF

Excellent piece by Bill H.

By tonight, this information will be around the world. Even the Asian market will have to take notice when they see that there is such a massive level of fraud.

I think too, that one better have their stuff in hand soon, because, well the Asians are a very smart people. They could have postulated corruption in the American system, now they know without a doubt.

Sep 25, 2013 - 3:20pm

I have a request...

could anybody order for me two of these: and ship to the UK at reasonable cost? I have seen on US ebay that some sellers charge roughly 4$ for postage.

I hope, moderator won't kick me out for that.

Dagney Taggart
Sep 25, 2013 - 3:21pm


So what does Maguire do now? His credibility is now in the sewer and the champagne will flow yet again at JPM tonight.

It's still fascinating that Bart and friends don't realize how much danger they have put themselves in now from both sides of the argument. The only thing that could have protected them is light. A lot of light.

I give them a year, at best, unless they manage to run away to Bariloche and Paraguay like the other criminals in this particular mafia.

Oh well. It's all stage and I still have plenty of popcorn.

PS. I guess I'll have to get a little more popcorn to see if the Comex gold is gone by December. Any bets that it will be magically replenished?

Sep 25, 2013 - 3:23pm


We were in Ga. last week at my sister's home. She has a little dog that has learned to sit up on its bottom and beg for food. He would follow the wife and I around the home, daytime or night. If a squirrel would run across the yard, he was after it to protect us and his territory at all costs. He had loyalty and our protection ever before him.

The government and all the laws are there to be like the little dog but looks like a pig only with lipstick. The baby boomers were led down a path of 401k's, and many other funds for their golden years. Easy financing , without any documentation, busted the savings of decades. If a big saver retired with a million dollars in the bank at todays rates, they would get about $225 per month. The property taxes have driven grandpa into a single wide mobile on the side of town. The citizens have been muzzled to keep quiet as to their beliefs by the hand of the government while the wide road of destruction grows like a weed. God has been thrown out of the schools, government, and hidden from public view and been replaced with everyone doing what is right in their own eyes.

CFTC? Ha! Better check what you have packed in your "bug-out" bag and see if it will weather the storm coming upon the land. This mess will be fixed as quickly as my sisters dog will not love mankind. jmo


Mr. Fix
Sep 25, 2013 - 3:24pm

I would say that we are making progress today.

Yes, we have irrefutable proof that the American government is complicit in theft, fraud, market manipulation, and various crimes against humanity. It is a criminal cabal, and an enemy to all human beings with moral fiber.

They are systematically creating the circumstances that make it impossible for freemen to exist.

Hijacking the monetary system, and making it “legal” to just print worthless paper to pay bills, has institutionalized the theft of private property and every man's labor for decades now.

The criminality of the American government has often been discussed off of Main Street, in some of those “conspiracy theory forums”, for quite some time now, but as time goes by, the conspiracy theories consistently become conspiracy fact.

Today's news regarding the CFTC was quite predictable, the next question is what to do about it?

I think Dr. Jerome sums it up well, when he asserts that the price of gold and silver are becoming of little concern when you realize that we live in a land of such lawlessness.

I also agree that preparing for the collapse is of paramount concern now, it exceeds an investment strategy or even preservation of wealth strategies.

The pace of the collapse is accelerating, between the Federal Reserve announcing that they will print money for as far as the eye can see, the inability of the federal government to actually solve any problems,

the collapse has already been hardwired into the system, and its inevitability should be blatantly apparent to everyone here.

The repercussions of having a criminal cabal fully in charge of every aspect of government needs to be addressed. It is becoming quite apparent that the outcome of this is going to result in massive loss of life for those still wearing blindfolds, when through apathy or ignorance they can not see what is unfolding here.

Of course, I may still be accused of of paranoia. That is something that I have gotten used to for the past few years, but when I originally said that Obama was on a mission to destroy the United States, back in 2008,

there has been absolutely no evidence whatsoever to the contrary.

Western civilization is on the precipice of complete annihilation, and it is a well orchestrated plan by incredibly evil subhuman debris.

I have been preparing for the inevitable for years now, and despite my “whack job, lunatic point of view”,

as events unfold, my position is increasingly less over the edge, and appearing to be somewhat more prophetic.

Today's news is just another string of clues to help one to assemble the big picture.

For anyone who's paying attention, there is just one inescapable conclusion:

this will not end well.

Prepare accordingly.

Sep 25, 2013 - 3:25pm

Linking again

The organizer of this conference has asked me to help him promote it. If you're on the U.S. east coast, you should consider going, if anything to see Rickards in person.

Dagney Taggart
Sep 25, 2013 - 3:26pm


I just heard my subconscious say, "Bury these JPM motherfuckers, Asians. A little bond dump coupled with naked currency printing to buy all the gold on the HK market, please."

Strongsidejedi Dagney Taggart
Sep 25, 2013 - 3:30pm


JPMC is in Singapore.

Why would asians want to bury JPMC when JPMC is a bullion bank and supplying them with cheap gold?

Sep 25, 2013 - 3:31pm

Greg Hunter...

Greg Hunter has Gerald Celente on today

Gerald Celente: Market Crash, Tapering in 2014, Upcoming War and More
Sep 25, 2013 - 3:31pm

Sep 25, 2013 - 3:34pm

Anyone looking for a diversion from all the BS

Tune into NBC Sports Network in 26 minutes. Should be very exciting. It's incredible how fast these cats go!

Sep 25, 2013 - 3:41pm

On the verge of surreality...

If all else fails, Obama will raise debt ceiling himself: analyst September 25, 2013, 12:48 PM
President Barack Obama

If Congress fails to raise the debt limit by Oct. 17, could President Barack Obama step in and raise the ceiling by executive action?

Greg Valliere, chief political strategist for Potomac Research Group, says Obama would do so, if faced with the prospect of a certain default on paying the nation’s creditors.

“I am not flat out saying that [executive fiat] is the end game, but it has to be on the table if a default looks imminent,” Valliere said in an interview with MarketWatch.

During the last debt ceiling showdown in the summer of 2011, there were scholars and senators who suggested Obama did have such a silver bullet — the 14th Amendment to the Constitution.

None other than former President Bill Clinton agreed.

In an interview with The New York Times in 2011, Clinton said Obama should invoke the 14th Amendment “without hesitation” to raise the debt ceiling and “force the courts to stop me.”

The provision in question, Section 4 of the amendment, says that the validity of the public debt “shall not be questioned.”

Laurence Tribe, a noted professor of constitutional law at Harvard, tried at the time to throw cold water on such arguments.

In an op-ed in the Times, Tribe said that only Congress has the power to borrow money on the credit of the United States. Arguments that the president may do whatever is necessary to avoid default “has no logical stopping point,” Tribe noted.

In addition, a legal cloud would hang over any newly issued bonds, Tribe said, because of the risk that the government might refuse to honor those debts as legitimate.

Back in 2011, Obama and administration officials shied away from the suggestion he could act unilaterally.

But Valliere noted that times have changed, with Obama now in his second term in office.

“Obama has fewer constraints,” Valliere said.

— Greg Robb

Sep 25, 2013 - 3:45pm

boomer sooner - I made a freedom of information request...

to the CFTC asking to see the silver manipulation investigation docs.

They got back to me straight away with this...


Sep 25, 2013 - 3:49pm
Fred Hayek
Sep 25, 2013 - 3:51pm

@Dagney, How does this call Maguire's credibility into question?

That argument rests on the premise that the CFTC couldn't ignore rock solid information of manipulation. Since they did nothing, then Maguire's claim of rock solid information must be false and his credibility is damaged.


There's the obvious counter argument that everyone on this site seems to hold, that there's no corruption so blatant that the CFTC won't indulge in it, no lie too big, no truth too bright and shiny that it can't be ignored.

Sep 25, 2013 - 3:51pm


“The Division of Enforcement’s investigation utilized more than seven thousand enforcement staff hours”.



Math of working hours - similar to Orange’s post:

a REAL fulltime position here in Canada works 2000 hours per year (rounded down).

7000 hours / 2000 hours per year = 3.5 years


1 fulltime position works 7000 hours in 3.5 years or

4 fulltime positions work 7000 hours in 10.5 months

10.5 months / 60 months = 17.5% productivity

These investigators DESERVE A RAISE for working that hard >>> at the very least some fresh memory foam pillows, and another skid of donuts. Come on Gman, you slave driver.

Those were some seriously long (pardon the other side of the JPM short trade pun) coffee breaks stretching this f’n BS out for FIVE years. Long live the Union!


ancientmoney Mr. Fix
Sep 25, 2013 - 4:09pm

@Mr. Fix, making progress . . .

The Washington Aristocracy Is Scum, But Don't Let That Fool You...

Most people with an extensive Liberty Movement education are well aware that false paradigms are used in politics by establishment elites in order to control social discussion and to divide the population against each other. The Left/Right debate has been and always will be a farce, being that the leadership on both sides of the aisle have identical goals when it comes to the most important aspects of the American structure. The elites of the Democratic and Republican parties, regardless of rhetoric, will BOTH strive for greater government power, less individual liberty, the erasure of economic sovereignty and free markets, and a dependent and enslaved public. On these pursuits, they completely agree.

Sep 25, 2013 - 4:10pm

He doesn't want to discuss it now...

General Wesley Clark Asked About 7 Country Plan
engineering edge Dagney Taggart
Sep 25, 2013 - 4:11pm

December Gold - Stand and Deliver

I think that the next card to be played is in the actual market delivery...assuming that the current elgible COMEX stock (20 tons) will be drained and a DEFAULT is avoided by...

The BB believe that they will not be able to deliver, I think we can expect another ETF raid of the 6.86 million ozs remaining COMEX registered (213 tons), just like April...however, since this will be the BB own personal stock, the demand price will rise to meet the below supply.

Let me show you what I am thinking...

I have been running a couple of math models assuming the variables of the following:

1. M3 Money Supply (M1 + M2) account from the Federal Reserve

2. Bail-In of the US M3 Supply @ variable amounts (35% - SDR equivalent, 50%, 81%, 90%, 95%,..) to cover the default of the debt of the foreign debt and public debt to destroy the USD

3. Gold held in the US Treasury/Federal reserve of 8,133.5 tons.

4. Assuming the rates of Basel III Asset Level (15% of the Money Supply backed by Gold Holdings), Constitutional per Bretton Woods Agreement (40%), and Classical Gold Standard (100% Gold backed currency).

The Gold price will need to raise to above $7,200/oz to meet the minimum floor to be considered as a viable currency, and the BB and foreign countries holding USD will hopefully have been given enough time like the BRIICS have done to beef-up their gold reserves. Otherwise, we are on the way to free gold levels and severe hyper-inflation.

Sep 25, 2013 - 4:26pm

The boys at KWN are all talk.

The only way we can win this battle is to work together … to show the banksters that we can organize. There are at least 10,000 silver bugs on this site.

How to begin? One day (to be decided) in the month October we will each collectively purchase 10 oz of silver. We will drain the system of 100,000 oz in a flash. We will then step back and assess the situation and plan for the next attack.

The silver market is not that big and if we work together we put pressure on the industrial boys who needs silver to keep the world running. We must create clogs in the system and the only way to do it is work together.

Hat tip this if you are in for a small beta test. Can we get one thousand people to commit to the first mass buy-in in October?

Sep 25, 2013 - 4:29pm

I wonder

How Ted Butler is feeling today....

Sep 25, 2013 - 4:31pm

Complaint of manipulation

Was never ever going to be admitted to or proven. It would really be the end of the status quo.

1) Why would you feel the need to manipulate the Gold price.

2) How did you do it, whose Gold did you lease?

3) How many class actions for Trillions will now be filed.

Was never going to happen.

That said, two things come to mind.

1) Perhaps they will use this opportunity to stop manipulating. Doubtful though.

2) We stack because we believe the system is broken. Today we have more evidence that the system is broken; stack more - GLOBALLY!

An explanation by the CFTC ought to be pursued. What evidence has been presented to you and why do you think it is irrelevant?

Sep 25, 2013 - 4:38pm
Dagney Taggart
Sep 25, 2013 - 4:44pm

@SSJ and Fred

Regarding JPMC and the Asians: my prayer is that the Asians will realize that since JPM and the Rothschild cartel have successfully looted the western economies, they're next on the target list and will preempt them. Subconsciously, I hope the Asians screw them so mercilessly hard in an unnamed orifice that the bloody tattered remains become an evolutionary birthmark forever residing amongst the bankster parasite class and their offspring that no surgery can heal and it becomes a 1000-year curse for future generations to see and ridicule. Then, maybe we'll let them reenter productive and honest society.

Obviously we're disappointed but not surprised. We talked and Dad is sending me on a FUJPM mission to Vancouver tomorrow and maybe into the weekend until supply is dry or the toilet paper is gone. 5 big big ones gone. Here's hoping to see a few flying banker experiments gone wrong.

Regarding Maguire credibility: obviously his kung fu is not strong. No strong kung fu, no credibility.

Sep 25, 2013 - 4:45pm


"The silver market is not that big"

You are correct, and if physical buyers came in and took delivery, the price would move higher, no manipulation can stop a physical market.

The physical demand is not strong enough, and it wouldn't even take much fiat to burst the silver market open, but it has yet to happen.

The investable new silver per year is only worth $8-10 billion for the whole globe, it's a drop in a ocean of fiat.

Sep 25, 2013 - 4:51pm


Please don't hold back.

Say what you really mean.

Sep 25, 2013 - 5:08pm

Mr. Clean in the House!

Look at the shine!


Nick Elway
Sep 25, 2013 - 5:10pm

Thanks Turd for the Americas Cup

Those cats really do fly. I found a live video feed restricted to UK so I googled free proxy and found a UK Proxy port 443 and googled how to get my browser to use a proxy and it worked! By the time I figured it out they were approaching the start. I think I'll be using a proxy again.


I'm beginning to question when you say something along the lines of "no real trader would dump so many contracts at once during thin-trade hours", especially when you also include a "they made billions doing this manipulation". Jesse Livermore would put in an "opposite" trade to get the market wrong-footing as well. Think of JPM at the poker table with an infinite pile of chips ( from the Fed) and the ability (with the complicit CFTC) to make anybody they are trading against fold or go all in on each hand.

I'm moving to the opinion that they will continue the massive orders at thin times until they quit making money doing it. Now their long position is a hedge against the day their FED-supported downward manipulation strategy is not profitable.

Sep 25, 2013 - 5:11pm

Paul Karason died on Monday

Blue man dies of a heart attack.

Paul Karason, the man whose skin turned permanently blue 15 years ago, died in Washington on Monday.

A moment of silence, please...

Sep 25, 2013 - 5:11pm

Mass-buy in.

Mass-buy in.

My father was a Hmong commander during the Vietnam War. We were the foot soldiers for the Americans during the war. We were outnumbered ten to one by the Vietnamese in every battle. Yet we fought them to a stand still for ten years. We were able to do this because every battle no matter how big or small was a coordinated attack. We disrupted their supply lines, ambushed them when they were most venerable and we had then afraid to leave the trails. We never fought them on their terms. You be surprise what two or three men in the right spot can do an entire company. The same guerrilla tactics needs to be waged against these crooks.

When do the banksters need to make deliveries? That’s when we will attack. A purchase at the right moment is all that’s needed to clog up the supply line. Enough to create fear and uncertainty.

You want to fight a war than fight it.


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