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« The U.S. Bails Out Failed Industries, While China Buys The Rare Earth | Main | Corporate Cash As Free Speech - Ratigan Interviews Lawyer Who Convinced The Supreme Court »
Tuesday
Oct262010

CFTC’s Chilton sees 'numerous' silver manipulation efforts

1 Year Chart of Silver - Sorry for the weak chart...

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Link - Marketwatch

WASHINGTON (MarketWatch) — A federal futures regulator said Tuesday he believes there have been numerous attempts to fraudulently influence silver market prices, and he urged the agency to prosecute those who may have violated commodities laws.

Bart Chilton, a commissioner at the Commodity Futures Trading Commission, made his comments Tuesday at the start of a public meeting where the agency will be proposing new rules to strengthen its anti-fraud and anti-manipulation powers.

“I believe there have been repeated attempts to influence prices in the silver markets,” he said. “There have been fraudulent efforts to persuade and deviously control that price.”

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Reader Comments (10)

In which direction? Down I assume.
Oct 26, 2010 at 11:47 PM | Unregistered Commenterrobin hood
hard to know robin hood...i imagine he's seen attempts at manipulation in both directions...but that's purely a guess...
Oct 27, 2010 at 12:08 AM | Registered CommenterDailyBail
That's correct, rh, down is indeed the direction in which TPTB would like to see gold head.

But that's not going to happen. Au contraire, #79 has been money since before the periodic table itself. No, there's some kina reason, somewhere, as to why this yellow shit stirs up such a fuss. Do I give a fuck why? No. I stopped listening at "5000 years."

Remind me again where the Bible mentions Federal Reserve Notes, or when gold hasn't been money.
Oct 27, 2010 at 12:49 AM | Unregistered CommenterCheyenne
“I believe there have been repeated attempts to influence prices in the silver markets,” he said. “There have been fraudulent efforts to persuade and deviously control that price.”

It has happened before, anybody remember the Hunt brothers?
Oct 27, 2010 at 2:25 AM | Unregistered CommenterS. Gompers
Gomp--

Oh, yeah. I think it was the Hunts who drove silver to $45/oz. back in the day. More recently, this year in fact, Andrew Maguire blew the whistle on silver manipulators such as JPM. Chilton wouldn't have piped up like he did unless he was right and manipulation is rife.
Oct 27, 2010 at 8:47 AM | Unregistered CommenterCheyenne
Very good Cheyenne, no conspiracies here, move along...
Oct 27, 2010 at 9:23 AM | Unregistered CommenterS. Gompers
Personally, I love the manipulation of Silver. You can buy it at retardedly low prices. Thanks JPM!
Oct 27, 2010 at 9:45 AM | Unregistered Commentermark mchugh
Dear JPM,

If you would, please manipulate the price of Silver back below $20/oz, so I can close out every paper money position I have. And please tell Benny and the inkjets to keep on printing! Thanks in advance for your cooperation.
Oct 27, 2010 at 9:50 AM | Unregistered Commentermark mchugh
nice one mark...
Oct 27, 2010 at 2:50 PM | Registered CommenterDailyBail
mchugh--

Completely agree about the price of Ag, just backed a small truck up on my dealer yesterday and will continue doing so until the Comex (or LBMA) explodes.
Oct 27, 2010 at 5:35 PM | Unregistered CommenterCheyenne

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