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Orwellian CFTC, which ignored years of silver price manipulation, now going after Reddit Apes
Orwellian CFTC, which ignored years of silver price manipulation, now going after Reddit Apes
On Monday 1 March, an article in Bloomberg Law by CFTC connected lawyers from law firm Clifford Chance revealed that the Commodity Futures Trading Commission (CFTC) is reportedly investigating retail silver trader activity in the silver price and that the US Department of Justice looks set to investigate as well.
Before looking at this shocker of an Orwellian development, it’s helpful to provide some context on the CFTC’s track behavior in this area and to show how hypocritical such a development would be.
Rewinding exactly one month previously to Monday 1 February, as the spot price of silver rallied to an 8-year high of just under US$ 30 per troy ounce amid heightened retail interest and the emergence of the #SilverSqueeze, it was predictable that the establishment on Wall Street and in Washington DC, an establishment with a collective vested interest in a low and suppressed silver price, would feel the heat and attempt to counteract the rally.
On the regulator front, this was demonstrated by none other than the US Government’s Commodity Futures Trading Commission (CFTC), whose acting Chairman Rostin “Russ” Behnam, released an unprecedented statement, actually on 01 February, saying that:
“The CFTC is closely monitoring recent activity in the silver markets. The Commission is communicating with fellow regulators, the exchanges, and stakeholders to address any potential threats to the integrity of the derivatives markets for silver, and remains vigilant in surveilling these markets for fraud and manipulation.”
Although a short statement from the CFTC, it signaled panic, panic on Wall Street and in Washington, that a #SilverSqueeze triggered demand surge in physical silver could pressure the supply side and thus trigger the collapse of the gigantic ongoing paper silver trading charade.
…click on the above link to read the rest of the article…
Jim Rickards: The New Case For Gold
Jim Rickards: The New Case For Gold
Monetary expert Jim Rickards returns this week to share the insights from his latest work The New Case For Gold, a detailed and highly-researched study of the fundamentals likely to drive the price of gold bullion in the years to come.
Rickards is quite confident that the price is going higher — much higher in fact — as the current world fiat currency regimes falter, to be replaced by ones backed (at least in part) by bullion.
On the way to that outcome, expect the price to be subjugated to the interests and aims of the largest players on the geopolitical chessboard:
Is there gold price manipulation going on? Absolutely; there’s no question about it. That’s not just an opinion.
I spoke to a PhD statistician who works for one of the biggest hedge funds in the world. I can’t mention the name but it’s a household name, you would know the fund. This guy is a PhD statistician. He looked at COMEX opening prices and COMEX closing prices for a 10-year period and he was dumbfounded. He said…This is the most blatant case of manipulation I’ve ever seen. He said if you went into the aftermarket, bought after the close and sold before the opening every day, you would make risk-free profits. He said statistically that’s impossible unless there’s manipulation going on.
I spoke to Professor Rosa Abrantes-Metz at the New York University Stern School of Business. She is the leading expert on globe price manipulation. She actually testifies in some of these gold manipulation cases that are going on. She wrote a report reaching the same conclusions. It’s not just an opinion, it’s not just a deep, dark conspiracy theory. Here’s a PhD statistician and a prominent market expert lawyer, expert witness in litigation qualified by the courts, who independently reached the same conclusion.
…click on the above link to read the rest of the article…
