thanks to all those who sent e-mails to bart chilton. even if you never heard back from him, it appears the weight of numbers had some effect:

Ted Butler, whose allegations of ongoing manipulation are believed to be the subject of the current investigation, said that Aronow’s points were “encouraging”.

He said: "He (Aronow) confirms a number of contentions of mine: One, the CFTC has never busted up an ongoing manipulation (crime in progress), and therefore, has no experience with one."

"Two, the allegations are based upon evidence that is from their own data, so it doesn't matter what participants may say or know about the entire market.

"Three, that evidence is credible enough that it obviously warrants an investigation.

"Four, they are obviously afraid or reluctant to talk to me, even though it is clear I am the instigator of allegations.

"Five, because it is a long-term manipulation, the stakes are enormous."

Butler agreed with Aronow that there had to be an intent to manipulate the market and an economic justification for doing so: “There is no legitimate economic justification (for large short positions held by one or two players in the silver futures market) and the intent to manipulate couldn't be more clear, namely, financial survival for the big concentrated shorts.“

Butler said: “To lose control and be forced to cover shorts would set off a price explosion that would cripple them (those involved in the alleged manipulation) financially and expose the manipulation for all to see. The "return" to free market prices he talked about.”

When the current investigation was revealed in US press in September 2008, CFTC Commissioner, Bart Chilton, said he had received 700 emails complaining about large short positions in the silver futures market.

In an email to a member of the public on 27 December, Chilton said: “I requested an investigation, which is ongoing. I have been briefed and believe that the investigators are making progress."

http://www.investegate.co.uk/invarti...