CFTC Fines Banks For Precious Metal Price Manipulation

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: 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:

  • 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.


    About the Author

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    Jan 29, 2018 - 5:55pm

    Useful Tool To Use On Stockcharts for Non-Us Gold Investors

    Hi Folks,

    As Gold has been whizzing around a bit recently in US dollar terms, thought the following might be useful for us non-US based gold investors, as came across a useful chart posted at The Daily Gold website article :-

    Basically to help you see if gold has broken out against foreign currencies at just type in $Gold:UDN

    As UDN appears to be an ETF representing a basket of foreign currencies:-

    For those who like to check up on the UDN ETF, just follow the following link :-

    Jan 29, 2018 - 5:54pm

    Thanks Reach!

    Someday the old hands around here like you and me will have our day. And I won’t be classy, I’m gonna be brutal to Sister Christian, Trader D, and all the other shitbirds out there.

    Angry Chef
    Jan 29, 2018 - 5:51pm

    Weekend of Q: Hillary and Obama to be Arrested for Treason

    Not saying it's going to happen. But it's a pleasant thought.

    And check out the picture of the British Prime Minister Theresa May next to Trump. She looks incredulous. Almost like she's thinking...." What ! Your going to tell the World we're all a bunch of pedophiles " ! Maybe the Queen is going to have to sell one of her hats. That should settle the debt problem.

    Jan 29, 2018 - 5:37pm


    Well said!

    (I enjoyed the strenuousness of your reply.)

    Angry Chef
    Jan 29, 2018 - 5:37pm

    Gold Price Manipulation...

    ....I was searching the GATA site for the Gold Price manipulation lawsuit. It may have been Bill Murphy that attended the hearing and not Chris Powell. I believe the guy that brought the suit forward was Reg Howe a GATA member. While looking into it I recalled that I had bookmarked an article regarding stolen Gold from Fort Knox. For those that haven't read it here's the link...

    Jan 29, 2018 - 5:29pm

    qualifying what 'manipulation' means

    We have the admission that "all markets are manipulated", so the question now is whether the manipulation is directional. Pretty soon we'll have the admission that of course all markets are directionally manipulated, they can be manipulated up or down. After that we'll have the admission that of course the monetary metals markets have been directionally manipulated downward, but it doesn't follow that said manipulation is necessarily malevolent... and so it goes.

    Here is a perfect example... the stock markets have been directionally manipulated to the upside (an admission by FED Chairman Powell, himself). But said directional manipulation has been done for the good of the financial system.

    Same deal regarding the suppression of silver and gold.

    Anyone disagreeing is a terrorist.

    @Pining 100's h/ts

    Angry Chef
    Jan 29, 2018 - 5:27pm

    GATA and Price Manipulation


    Maybe have Chris Powell on for an A2A. I recall he attended a lawsuit back in early 2000's timeframe where someone brought forth a Civil Suit against the Banks for Gold price manipulation. The Plaintiff shows up with himself and a Lawyer or two. The Banks show up with over a dozen. Before the trial gets under way the Banks approach the bench and explain to the Judge that though the Plaintiff is correct, the case can't move forward because what the Banks were doing was Legal in the Governments eyes. The case got shut down at that moment. It was after the markets crashed in 1987 and Reagan signed that Executive Order ( can't remember the exact #. I'll look it up ) but it essentially gave the Banks and the ESF carte blanche to intervene in the markets to protect the dollar.

    So for any pundit to say that the markets are not manipulated makes him either an idiot or a Cartel stooge.

    Jan 29, 2018 - 5:21pm

    Oh my...

    All the shills ARE parroting the same comeback....

    "ERrr... ahh...ahhh but there is manipulation....but err ahh... but it does not equal price suppression...err ahh...cough.. fucking cough cough."

    Fucking shills all of them. The Doc and et all need to stop publishing their fucking shit...cut them off at the fucking kneecaps (income and influence)!

    They are equivalent to the mainstream media mockingbird echo chamber.

    It is so sad, pathetic and embarrassing.

    Fucking Koos...I used to think he was on the up and up.

    We should all take notes on who the apologists are today....We know many of them....but we need to make a note of all of them.

    Jan 29, 2018 - 5:16pm


    This subject gets me rather worked-up, so please forgive the strenuousness of my reply- It’s not personal. But to answer your question:

    If you’d been accused in print by your competitors of “lying to your subscribers” because “manipulation is a fairytale sold to the gullible” like TF has had to endure, I promise, you would care.

    If you were long the equivalent of two years salary in a 3x leveraged silver ETF because (1) the charts were set-up for a rip, (2) certain fundamentals had just turned in favor of a supply-squeeze, like an unexpected strike at the worlds biggest silver supplier, and (3) a new Fed policy just made it clear that the dollar was going to drop... yet you wake up the next day to a 25% drop before you can sell a single share because some entity decided on the overnight to drop a quarter-million in naked shorts in a matter of seconds on a thin market to utterly bomb price, I promise you that you’d fucking care.

    If your stack kept losing value and caused marital problems or retirement issues or financial troubles , like some I’ve heard from on this board, I also guarantee you’d care.

    The dissemblers and shills work hard to lessen the public outcry regarding these crimes, and thus make it easier for the perpetrators to keep doing them.... that’s why you should care.

    Jan 29, 2018 - 5:13pm

    Forensic studies

    Since you brought up the idea of forensic studies the work of Adrian Douglas back around 2010 comes to mind. I briefly looked for but did not find his graphs. He showed that holding gold overnight (selling at COMEX close and buying at COMEX open) compared with holding gold during the day did spectacularly well while the day holding was far worst. This was an accumulated difference over several years calculated from price data.

    You reposted his article here:

    but unfortunately the links to all the figures are dead.

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