Silver Manipulation Report

[don]

CFTC Update on the Investigation Into Manipulation of the Silver Market In Progress Since 2008

The CFTC released a long awaited update on their investigation into the manipulation of the silver market.

November 4, 2011

CFTC Statement Regarding Enforcement Investigation of the Silver Markets

Washington, DC – The Commodity Futures Trading Commission today issued the following statement:

“In September of 2008, the Commission announced the existence of an enforcement investigation into the possibility of unlawful acts in silver markets. Since that time, the staff has analyzed over 100,000 documents and interviewed dozens of witnesses and obtained expert advice. It has been a long, detailed, and thorough investigation, and it continues in an appropriate and considered manner.”

You can read the entire statement here. Except that WAS the entire statement.

For questions or comments, call 1-800-EAT-SHIT.

http://jessescrossroadscafe.blogspot...tion-into.html

[brent217]

Re: Silver Manipulation Report

My guess is JP Morgan is waiting for another spike down to unload their shorts without losing their shorts. Once they can unload their positions, then the price will be allowed to go up. I can't see TPTB allowing the commoners to join in on that ride though, so I expect some dirty dealings in the next year.

[doom&gloom]

Re: Silver Manipulation Report

could be happening with this: http://www.zerohedge.com/news/cme-go...ial-everything

lotta money gonna be lost in the casino on Monday Morning.

[jpetr48]

Re: Silver Manipulation Report

Great interview with Bart on silver manipulation- he is going after cheetah traders and JP- so i expect he is running into headwinds career challenges as coming public like this is not the normal mode unless there is a big breakthrough coming.

he is the only govt official who has reported directly to my email directly over weekend- apologize for not getting back sooner-this is one of few i believe
http://www.kingworldnews.com/kingwor...t_Chilton.html

[Kadriana]

Re: Silver Manipulation Report

Does anyone know if the US will have to import silver to take care of it's bullion demand? Has our silver mining increased dramatically in the US or are we still mining around 40 million oz. a year. I'm curious how much is being scrapped a year too and haven't find any recent data.

[tmicou]

Re: Silver Manipulation Report

could be happening with this: http://www.zerohedge.com/news/cme-go...ial-everything

lotta money gonna be lost in the casino on Monday Morning.

CME updated their advisory on Saturday to say they are trying to DECREASE their margin calls by reducing initial margin to create a ratio of 1.0, not increase their maintenance margin to 1.0... http://www.cmegroup.com/tools-information/lookups/advisories/clearing/Chadv11400.html

CME Group today is clarifying its notice to clearing firms regarding margins. In light of the issues customers transferring out of MF Global are facing, while still maintaining appropriate risk management protections for the market, CME Clearing is setting the "initial" margin upcharge at zero. This upcharge is normally applied to customer accounts when they are receiving a margin call.

The intent and effect of these changes is to decrease the size of any margin calls resulting from the bulk transfer of MF Global customers to new clearing members, not to increase them.

Yesterday, CME Group successfully transferred MF Global customer positions to a new clearing member with part, but not all, of their funds, as approved by the bankruptcy trustee and the court. By reducing the initial margin “ratio” to 1.00, we ensure that margin calls that are issued to these transferred MF Global customers will be limited to bringing their accounts into compliance with the lower, “maintenance” margin levels. Maintenance margins are set to provide appropriate risk management coverage. Initial margins are set to provide an additional buffer against future losses in the account.

This is a short term accommodation to maintain market integrity and provide temporary relief to customers whose accounts have been disrupted by this event.

We apologize for any confusion our initial advisory may have created.