this comes from gata today:

We already have feedback from the CFTC that one of those positions was a result of a takeover, which clearly was JP Morgan Chase taking on the SHORT position of Bear Stearns. What is the point of having anti-trust laws if this is allowed to stand, especially when the physical retail market is so tight, and coin premiums are at historic high levels? If this sort of information doesn’t prove GATA’s point, nothing ever will. This is no hedging operation, it is the United States Government suppressing the price of silver in unlawful fashion to suit its own agenda.

And that is the problem with Bart Chilton’s investigation of the silver market. He is investigating his own government. How does he tell them to bugger off? Seems to me the only way to carry on here is to go to the Justice Department. What else does he have to investigate? It is all there in their own government stats.

It is beyond bizarre. Hardly any dealers are short silver because they know of the real shortage, so the US Government has become THE SHORT. What kind of free market is that?

Bart Chilton has been very cordial in answering numerous emails, unlike anyone else in Washington I have come across over the last decade. He has to be commended for that. However, it is time for him to get off the pot and do something. There is nothing else to investigate. He only needs to demand JP Morgan Chase reduce a much too concentrated short position, one which has the silver market dysfunctional.

He ought to do so for his own good and for the good of our financial markets. This sort of chicanery and utter price suppression nonsense will not stand too much longer. It wouldn’t take much to blow up the silver Comex market up. That kind of ramification could lead to very serious financial market consequences, putting the integrity of all our financial exchanges in question. We have enough trouble with our financial markets at the moment. No one needs that.