Here’s a confusing report on the silver investigation from writer Mark O’Byrne.
In a story published Sunday, the Financial Times stated, “A four-year investigation into the possible manipulation of the silver markets looks increasingly likely to be dropped after U.S. regulators failed to find enough evidence to support a legal case.
“The FT based their story on three unidentified people familiar with the situation.
“However, Steve Adamske, a CFTC spokesman, said ‘we will decline to comment because the commission has not decided a course of action on this matter.’
“The silver market was affected by ‘devious efforts’ to move the price of the precious metal according to Bart Chilton, a member of the U.S. Commodity Futures Trading Commission, as reported by Bloomberg.
“‘I continue to believe, consistent with my previous statements and information from the public that there have been devious efforts related to moving the price of silver,’ Chilton said by e-mail today in response to questions from Bloomberg.
“The enforcement division of the Washington-based agency, the main U.S. overseer of derivatives markets, began pursuing allegations of manipulation in the silver market in September 2008.
“Investigators have analyzed more than 100,000 documents and interviewed dozens of witnesses, the CFTC said in a November 2011 statement. Chilton said last month the investigation may be completed as early as September.”
The sole reason for this investigation is Ted Butler. He caused thousands of people to urge the CFTC to look into the silver market. Nevertheless, the investigators have never talked to him. Believe it or not the government investigators looking into the manipulation of silver never bothered to talk to the person whose charges are responsible for the investigation. This is beyond disgraceful.
Why wouldn’t they talk to him? They couldn’t possibly be that incompetent, or could they? In my opinion, they didn’t talk to him because they are afraid to hear the truth. They are stumbling and bumbling in order to avoid the obvious conclusion. That’s why I predict their final report will be pathetically inconclusive. They will make some weak criticisms of the silver market manipulation but avoid any serious charges. It will be a whitewash. Our government can’t be trusted to do the right thing.