a letter to congress about silver price suppression

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aitakahashi

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a letter to congress about silver price suppression

posted on Jan 14, 2009 07:21AM

this is a letter sent out by a member of gata to his congressman about the silver price suppression scheme:

Dear ----:

For months now the U.S. Commodity Futures Trading Commission (CFTC) has been unable to explain what I perceive to be enormous manipulation of the price of silver. I would like to know why it is not manipulative for one or two banks trading on the commodities exchanges to hold a short position equal to 25 percent of annual world silver production, data found in the CFTC's own reports.

The CFTC seems to be stalling, not investigating this matter. It is infuriating that qualified market participants can see the silver manipulation clearly yet those responsible for enforcing the law pretend otherwise.

Enough is enough. This situation has never occurred in any other commodity. How could this not be manipulative?

Please require the CFTC to do its job now. No more delays. Let's enforce regulations for an honest market and stop the silver price manipulation.