{"id":14476,"date":"2011-11-04T15:19:00","date_gmt":"2011-11-04T15:19:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/silver-price-manipulated-says-regulator\/14474\/"},"modified":"2011-11-04T15:19:00","modified_gmt":"2011-11-04T15:19:00","slug":"silver-price-manipulated-says-regulator","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/silver-price-manipulated-says-regulator\/14476\/","title":{"rendered":"Silver Price Manipulated, says Regulator"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><br \/>\n<!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><br \/>\n<!--\/mfunc--><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\"><span style=\"font-size: small;\"><em><span style=\"color: #000000;\">By Dominique de Kevelioc de Bailleul<\/span><\/em><\/span><\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">Just as the issue appeared to slip into the trash barrel, CFTC Commissioner Bart Chilton told readers of <a href=\"http:\/\/kingworldnews.com\/kingworldnews\/KWN_DailyWeb\/Entries\/2011\/11\/4_Bart_Chilton_-_There_is_Manipulation_in_the_Silver_Market.html\" target=\"_blank\" rel=\"noopener\">King World News<\/a> that he still believes the <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">silver<\/a> price has been manipulated at the Chicago Mercantile Exchange.<\/span><\/p>\n<p>\u201c<span style=\"font-family: Verdana,sans-serif;\"><span style=\"font-size: small;\">I believe there has been repeated attempts to influence prices in the silver market,\u201d Chilton told KWN. \u201cAnd there\u2019s been fraudulent efforts to persuade and deviously control the price.\u201d<\/span><\/span><\/p>\n<p><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\"><span style=\"font-size: small;\">After years of pressure exerted onto the CFTC by the <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold<\/a> Anti-Trust Action Committee (GATA) and silver market specialist Theodore Butler of Investment Rarities Inc., as well as public disclosure of the scheme from former Goldman Sachs trader, Andrew Maguire, the CFTC initiated an investigation against two banks that the regulatory agency suspected of participating in the scheme to suppress the price of silver, JP Morgan and HSBC.\u00a0 <a href=\"http:\/\/oi.vresp.com\/?fid=149ce5c982\" target=\"_blank\" rel=\"noopener\">Sign-up for my 100% FREE Alerts!<\/a><br \/>\n<\/span><\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">Maguire&#8217;s public acknowledgment of the scheme has since prompted class action lawsuits against JP Morgan and HSBC.<\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">&#8220;JP Morgan acts as an agent for the Federal Reserve; they act to halt the rise of gold and silver against the US dollar,\u201d said Maguire. \u201cJP Morgan is insulated from potential losses (on their short positions) by the Fed and\/or the U.S. taxpayer.&#8221;<\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\"><span style=\"font-size: small;\">Coincidentally, or not, one day after Maguire was identified as the possible material witness to the allegations, he and his wife were injured in a hit-and-run accident.<\/span><\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\"><span style=\"font-size: small;\"><span style=\"color: #000000;\">&#8220;We got hit in the side at full acceleration and tried to corral the cars in a gas station, including the guy who hit us with a commercial vehicle,&#8221;<\/span> Maguire was reported as saying following the incident. <\/span><\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\"><span style=\"font-size: small;\">The police caught the assailant, but then he was released. Police will not disclose further information about the man or the incident, according to Maguire.<\/span><\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">Further supporting, GATA, Butler and Maguire came from a leaked State Department U.S. embassy cable \u2013<a href=\"http:\/\/cables.mrkva.eu\/cable.php?id=204405\" target=\"_blank\" rel=\"noopener\">09BEIJING1134<\/a>, released by WikiLeaks, which strongly suggests that the Chinese are also aware of the scheme to suppress the prices of gold and silver.<\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">The cable reads:<\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\"><em>According to China\u2019s National Foreign Exchanges Administration, China\u2019s gold reserves have recently increased. Currently, the majority of its gold reserves have been located in the United States and European countries. The U.S. and Europe have always suppressed the rising price of gold. They intend to weaken gold\u2019s function as an international reserve currency. They don\u2019t want to see other countries turning to gold reserves instead of the U.S. dollar or euro. Therefore, suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar\u2019s role as the international reserve currency. China\u2019s increased gold reserves will thus act as a model and lead other countries toward reserving more gold. Large gold reserves are also beneficial in promoting the internationalization of the renminbi.<\/em><\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">Chilton told KWN, \u201cWhen people email me and say, \u2018You watch the market (silver) between 9:15 and 9:45 tomorrow and it\u2019s going to tank or it\u2019s going to do this or it\u2019s going to do that.\u2019 I hold on to it and I watch the market and what they say happens, and I\u2019m not saying this always happens, but it happens even 50% of the time, 60% of the time, there\u2019s no way that doesn\u2019t raise my antenna, like major, electric antenna goes up.\u201d<\/span><\/p>\n<p>He added, \u201c<span style=\"font-family: Verdana,sans-serif;\">So to me that was the reason why I thought we needed to look at this (silver), investigate it. . . I believe that there\u2019s been violations of the law, The Commodity Exchange Act.\u201d<\/span><\/p>\n<p><span style=\"font-family: Verdana,sans-serif;\">The CFTC&#8217;s five-member panel reviewing the case has yet to take action against Federal Reserve primary dealers JP Morgan and HSBC.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n.<\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Mr. Dominique de Kevelioc, de Bailleul <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; 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