Monday, August 6, 2012

James Turk on Gold and Central Bankers

Excellent interview between James Turk and Eric King on Gold bullion, mining shares and Central Bank interventions. Listen here

Bart Chilton: FT Report That CFTC to Drop Silver Investigation is ‘Inaccurate & Premature’

Bart Chilton
My fellow blogger "Doc" from has received the following response from Bart Chilton (CFTC Commissioner) in regards to the article on the possible dropping of the CFTC Silver manipulation investigation.

The Doc’s full correspondence with Commissioner Chilton is included below:

Commissioner Chilton,

As I’m sure you are aware, the FT tonight reported that the CFTC will be dropping its 4 year investigation into silver market manipulation, ‘after US regulators failed to find enough evidence to support a legal case, according to three people familiar with the situation.’

In 2010 you made a public statement regarding the silver market that ‘there had been “fraudulent efforts” to “deviously control” the silver price.

I am wondering whether you agree with the decision to drop the investigation due to lack of sufficient evidence or whether your opinion was overruled by Commissioner Gensler and the rest of the Commissioners.

Once the CFTC officially confirms that the investigation has been dropped, we would love to have the opportunity to speak with you regarding your thoughts on the conclusions of the 4 year investigation as you mentioned previously.

The Doc,

Commissioner Chilton responded:

‘There has been no such decision. I’ve been on the blower with some reporters saying what I can about the inaccuracies. Hopefully there will be a story or two that contains some of this.

In general, what I’ve said is this:

The Financial Times report related to silver is not only premature, but inaccurate in several respects.
Whenever the CFTC does take an action or actions related to our silver investigation, I am hopeful that we will do so in a fulsome and transparent manner. That will certainly be my desire in anything we do.

I continue to believe, consistent with my previous statements to which you referred, and based upon information from the public, that there have been devious efforts related to moving the price of silver. Incidentally, I also believe there have been silver and gold market anomalies outside of the silver investigate window that have raised, and continue to raise, market concerns. 

Perhaps there will be more coverage on this matter soon. 


More Upside for the AUD

Sun 05 Aug 12 | 08:20 PM ET
Uwe Parpart is MD & Head of Research at Reorient Financial Markets says that the Australian economy is doing very well and that the AUD has more upside.

Brother Johnf - Silver Update: Unregulated Regulators

Aug 5, 2012 by

Crucifiction is too good for them

CFTC's 4 Year Silver Manipulation Probe to be Dropped?

The four year investigation by the US Commodity Futures Trading Commission (CFTC) into alleged manipulation of Silver future contracts, most notably to the downside, may be wound up soon without pursuing any enforcement actions.

The CFTC first announced that it was investigating "complaints of misconduct in the silver market" in September of 2008, following a barrage of allegations of manipulation from precious metals investors (including me).

The CFTC's five commissioners have not yet formally determined the outcome of the investigation but may drop the probe because it doesn't have sufficient evidence, according to people familiar with the situation, as cited by

"The investigation has not reached its conclusion," a CFTC spokesman is quoted as saying by

It looks like only Phoneman can save us from the Banksters now.......