ted butler on the silver market

What is most remarkable is how little the CFTC has actually said about the level of concentration held on the short side by JPMorgan. The allegations are based upon data and correspondence directly from the CFTC that deal with commodity law. Yet a response is not forthcoming, just assurances that it is being looked into. How long does it take to answer this question? How can JPMorgan holding 30% of the silver market not be manipulative? That the answer is not forthcoming is something I ask you to think about.

Not only is the CFTC silent or evasive on this question, so is JPMorgan and the CME Group, owner of the COMEX. It reminds me of a game I used to play as a child, in which everyone goes suddenly silent and the first one to speak loses the game. But playing Mum’s the Word was harmless. The version being played by the CFTC, JPM and the COMEX is deadly serious. By recognizing just how unusual is this joint silence you will come to appreciate the significance of the problem, as well the historic investment opportunity at hand. Not only are the public petitions to the CFTC about the silver manipulation unprecedented, the lack of a response is also unprecedented.

Most historic is the silence from JPMorgan and the CME Group. These entities are masters of the financial universe. Yet, in spite of direct allegations of serious wrongdoing, neither says a word. I send my articles about the silver manipulation and JPM to all the commissioners of the CFTC and to Jamie Dimon, CEO of JPMorgan. Lately, I have included the top regulatory officials of the CME Group. None of my emails are ever returned or are they answered. I never hear a peep from any of them; not even a denial, or a demand to cease or rescind my serious allegations.

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