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Silvercorp Metals Inc. Message Board

  • markedtofuture markedtofuture Nov 5, 2011 11:26 PM Flag

    China Business Nrews Notes Chilton, GATA, Butler

    China Business News notes Chilton, GATA, Butler on silver market manipulation
    Submitted by cpowell on Sun, 2011-11-06 01:01. Section: Daily Dispatches
    Silver Price Manipulated, Says Regulator

    By Dominique de Kevelioc de Bailleul
    China Business News, Shanghai
    Saturday, November 5, 2011

    Just as the issue appeared to slip into the trash barrel, CFTC Commissioner Bart Chilton told readers of King World News that he still believes the silver price has been manipulated at the Chicago Mercantile Exchange.

    "I believe there has been repeated attempts to influence prices in the silver market," Chilton told KWN. "And there's been fraudulent efforts to persuade and deviously control the price."

    After years of pressure exerted onto the CFTC by the Gold Anti-Trust Action Committee (GATA) and silver market specialist Theodore Butler of Investment Rarities Inc., as well as public disclosure of the scheme from former Goldman Sachs trader Andrew Maguire, the CFTC initiated an investigation against two banks that the regulatory agency suspected of participating in the scheme to suppress the price of silver, JP Morgan and HSBC.

    ... Dispatch continues below ...

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    • To be blunt. All this "price fix" conspiracy stuff is getting a bit OLD and boring. OF COURSE the Gold and Silver futures markets are manipulated.

      Pretty much any market can be "manipulated" especially a market as SMALL as Gold and Silver. However, remember the manipulated markets are just electronic!


      Gold and Silver are the ultimate RESERVE CURRENCIES. You either own them or you dont.

      If you choose to own you buy: physical, certificates, the central fund or sprott fund and you bu miners with proven profitable ounces in the ground.

      Owning IS NOT shares in some crackpot ponzi derivitive ETF scheme like SLV or GLD. Unless of course you can actually drive to New York and swap our shares for the physical.

      It is all ABOUT COMMON SENSE.


      • 1 Reply to bowmacwood
      • To be blunt. All this "price fix" conspiracy stuff is getting a bit OLD and boring. OF COURSE the Gold and Silver futures markets are manipulated.

        Maybe to you. Turning a blind eye on white collar crime is not the answer to free and transparent markets.

        Bullion banks, CME try to hobble CFTC, Maguire tells King World News

        Submitted by cpowell on 05:41PM ET Saturday, November 5, 2011. Section: Daily Dispatches
        8:41p ET Saturday, November 5, 2011

        Dear Friend of GATA and Gold (and Silver):

        Silver market rigging whistleblower Andrew Maguire today tells King World News that manipulation of the silver market continues as bullion banks and the Chicago Mercantile Exchange try to prevent the U.S. Commodity Futures Trading Commission from getting the staff necessary to enforce new regulations. An excerpt from the interview is posted at the King World News blog here:

        CHRIS POWELL, Secretary/Treasurer
        Gold Anti-Trust Action Committee Inc.

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