CFTC Fines Banks For Precious Metal Price Manipulation

82
Mon, Jan 29, 2018 - 1:59pm

Hmmm. I wonder how System Apologists like Moriarty, Christian, Hug and Weiner will try to spin this one?

In order to get this information out as quickly as possible, we'll save the price implications for later. But just today I saw this posted at Silver Doctors. I only post it here as a demonstration of typical Apologist garbage: https://www.silverdoctors.com/gold/gold-news/keith-weiner-weve-debunked-... So, given what you're about to read, will that author soon print an apology and retraction? Don't hold you breath.

Late Friday, reports hit Reuters that the CFTC would soon levy fines for "spoofing and price manipulation in the futures markets". Well, just a few minutes ago, we got the news release. You can read it all here:

  • https://www.cftc.gov/PressRoom/PressReleases/pr7681-18
  • However, to save you some time, here's the most important section:

    What about "ENGAGED IN A SCHEME TO MANIPULATE THE PRICE OF PRECIOUS METALS FUTURES CONTRACTS" is vague or open to interpretation? Not much. However, those who have based their careers and cash flow upon the notion that the precious metal markets are sacrosanct, free and fair just got themselves a cold slap of reality.

    Will there be arrests and future charges against some of the US Banks? Meh, we'll see. Maybe. But that's a topic for another day. For now we await the response of those who have always claimed that we here at TFMR are nothing but tin foil-hatted simpletons who rely upon conspiracy theories to explain away things we're too stupid and unsophisticated to understand.

    TF

    About the Author

    Founder
    tfmetalsreport [at] gmail [dot] com ()

    Subscribe or login to read all comments.

    Become member and subscribe to Turd's Vault

    Contribute

    Donate Shop

    Get Your Subscriber Benefits

    Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

    Key Economic Events Week of 5/10

    5/11 10:00 ET JOLTS job openings
    5/11 12:00 ET Goon Brainard
    5/12 8:30 ET Consumer Price Index
    5/12 9:00 ET Goon Chlamydia
    5/12 2:00 ET Federal Budget
    5/13 8:30 ET Producer Price Index
    5/14 8:30 ET Retail Sales
    5/14 8:30 ET Import Price Index
    5/14 9:15 ET Cap Ute & Ind Prod
    5/14 10:00 ET Consumer Sentiment

    Recent Comments

    by WingsofGold, 22 min 16 sec ago
    by chudson, 23 min 55 sec ago
    by dangerkitty, 25 min 30 sec ago
    by mavens, 28 min 31 sec ago

    Forum Discussion

    by dangerkitty, 1 hour 37 min ago
    by SteveW, 11 hours 42 min ago
    by SteveW, May 12, 2021 - 10:30pm
    by Titus Andronicus, May 11, 2021 - 4:57pm
    by Green Lantern, May 11, 2021 - 10:15am
    randomness