The Israel Deception

Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Showing posts with label cftc. Show all posts
Showing posts with label cftc. Show all posts

Sunday, April 16, 2017

Ted Butler wants metals owners to join in mail campaign to the Comex to end silver manipulation once and for all

Long time precious metals analyst Ted Butler has started a campaign to try to end price manipulation in the silver markets by asking everyone to copy and paste a letter he wrote to two new top executives taking over at the U.S. Commodities Futures Trading Commission (CFTC).

In the letter, Mr. Butler points out the years of allowed fraud and price manipulation that has gone on in the futures markets of precious metals, and in particular silver, and cites information from the Comex and CFTC's own websites that validate the manipulation going back more than a decade.

So, for anyone with an interest in higher silver prices or who is a believer that free markets, not controlled by large traders gaming the system, is the right way, then there is something you might consider doing. Now is an ideal time to raise these very important issues about concentration and manipulation in COMEX silver. The two officials most responsible for uncovering manipulation at the CFTC just started in this capacity on Monday and should be more open to the facts than otherwise. I can understand how many might feel that contacting these officials and others might be a waste of time, given the agency’s failed record over the years in this regard. Still, I’m not talking about any burdensome effort, just sending a few emails or letters to get straight answers to some very good questions. 
I’ve already written to the two new officials (both by email and hard copy) and feel free to use what I sent. I would ask you not to improvise and include other issues, such as gold manipulation. Besides, nothing would impact gold prices more than having the silver manipulation terminated. The best approach is in being as specific and factual as possible so as to pin the agency down. They may refuse to answer and one way of insuring maximum pressure is to write to them through your elected officials. Here’s the letter I wrote that you are free to copy. I’ll include pertinent emails address at the end. - Silver Seek
And here is the letter to copy, paste, and email to the addresses and commissioners below.

April 10, 2017

Andrew B. Busch via Email
Chief Market Intelligence Officer

James McDonald
Director - Enforcement Division

Commodity Futures Trading Commission

1155 21st Street NW
Washington, DC 20581

Dear Sirs,

Congratulations and best wishes on your appointments to key positions at the Commission at this critical time in market history.
I’m writing concerning a matter that the Commission has considered on a number of past occasions - allegations of a silver price manipulation on the Commodity Exchange, Inc. (COMEX). The reason the Commission has considered the issue of a silver price manipulation several times in the past is because the agency’s own public data and guidelines point strongly to such a manipulation. Never have the data been more convincing than what was just published Friday, in the Commission’s release of its weekly Commitments of Traders (COT) Report, for positions held as of April 4, 2017.

That report indicates that the concentrated net short position held by the four largest traders in COMEX silver futures hit an all-time extreme in numbers of contracts of 78,021, the equivalent of 390 million oz. of silver. The concentrated net short position of the eight largest traders was indicated at 104,978 contracts or the equivalent of nearly 525 million oz., or more than 60% of world annual mine production. No other commodity comes close to COMEX silver futures in terms of a larger concentrated short position when compared to real world production. On its face, the large concentrated short position in COMEX silver futures would appear to be an artificial price depressant.

As you know, the Commission monitors and publishes concentration data in all regulated futures markets as the prime front line defense against price manipulation. After all, it would be nearly impossible to manipulate any market without a concentrated position. But not only do COMEX silver futures stand out as having the largest concentrated short position of any commodity, in terms relative to real world production, consumption and existing inventories, the concentrated short position in COMEX silver futures is notable for other reasons.
For one reason, the big short traders do not appear to be engaged in any sort of legitimate hedging, since there are no signs they represent actual producers or hedgers of physical holdings. Separate agency data, contained in the monthly Bank Participation Report, indicate that the largest shorts are mostly domestic and foreign banks essentially operating as speculators, in a pseudo-market making capacity against other speculators. Publicly-owned mining companies are required to disclose any hedge activity and few, if any have disclosed any hedging in silver. The big short sellers in COMEX silver futures are financial firms, mostly banks, speculating against other big speculators and have no legitimate economic or hedging purpose in dealing in COMEX silver in the first place. As I’m sure you know, Congress allows futures trading for the purpose of encouraging legitimate hedging, not to encourage excessive speculation.

The largest COMEX silver short seller for the past nine years is JPMorgan. That has been the case ever since it acquired the failing investment bank Bear Stearns, the former largest COMEX silver short seller, according to Commission data and its correspondence with lawmakers. The special manipulative twist here is that since 2011, JPMorgan has engaged in an epic accumulation of physical silver at prices much lower than would have existed if the bank had not also been the largest silver short seller on the COMEX. In the recently completed COMEX March silver futures delivery period, JPMorgan stopped (accepted) 2689 contracts in its own proprietary trading account, plus another 739 contracts on behalf of a client(s), considerably more than the 1500 contracts allowed according to exchange regulations. This while JPMorgan was the largest short holder in COMEX silver futures. It is not possible to imagine a more compelling motive or intent for manipulation than to acquire a massive amount of any commodity at depressed prices, where the acquirer is responsible for the depressed prices.

Almost without fail, on every past occasion where the concentrated short position in COMEX silver futures reached extreme levels, it was only a matter of time before the price of silver gets rigged lower by these big shorts to induce speculative selling from traders operating on technical price signals. In fact, COT report data indicate that JPMorgan has never taken a loss, only profits on every silver short position it has added over the past nine years. Such results would not be possible in a market that wasn’t manipulated in price. In essence, speculators have taken over the price discovery process in silver because there are so few real hedgers trading on the COMEX, only speculating banks betting against other speculative traders. Even assuming the current extreme concentrated short position leads yet again to a sharp selloff in silver, there is another issue that goes to the core of regulatory concern.
In addition to the clear agency data pointing to a silver price manipulation, the presence of such a large and non-economic short position necessarily enhances the likelihood of disorderly market conditions once it becomes clear to enough market participants that unbacked concentrated short positions on the COMEX have been the reason why silver prices are so depressed.

I have communicated all this to the Commission, JPMorgan and the CME Group (owner-operator of the COMEX) for many years, with hardly any acknowledgement or rebuttal. I am hoping you will consider this matter differently and act to finally end the manipulation. I’m sure how you handle this matter will define your tenure. If I can be of any further assistance, please do not hesitate to call on me.
Sincerely yours,

Ted Butler

Andrew B. Busch - [email protected]
James McDonald - [email protected]
Acting Chairman J. Christopher Giancarlo - [email protected]
Commissioner Sharon Y. Bowen - [email protected]

Let me close by telling you that I am very thankful for the unique opportunity created by the new senior appointments at the CFTC, along with the simultaneous publication of the most concentrated data in silver shorting in history. I assure you that I am not holding my breath waiting for the CFTC to finally step up to the plate and do the right thing; not after 30 years of denial and obfuscation. I know full well that the agency’s denials up through today have only hardened it to maintain the façade that nothing is wrong in COMEX silver, despite glaring and growing evidence to the contrary. Still, it would be a waste not take advantage of an unexpected opportunity.

Ted Butler
April 12, 2017

www.butlerresearch.com

Wednesday, February 25, 2015

Former member of Plunge Protection Team confirms government controls all markets

For years many economists and investors believed that the government played a much bigger role in controlling markets than the mainstream let on.  And when you look at how regulatory bodies such as the CFTC and SEC failed to halt illegal activity by banks and corporations in areas such as insider trading, naked short selling, and commodity manipulation, the evidence of this becomes much too strong to ignore.
But for the first time in the decades of this ‘conspiracy theory’ belief, the oppressed finally have a whistle blower, and one who actually worked on the government’s Plunge Protection Team.  And like Edward Snowden’s revelations of government spying occurring over every aspect of our lives, so too does former U.S. financial adviser Dr. Pippa Malmgren publicly affirm that not only does the government manipulate the markets as they see fit, they control every aspect of them.
 
Read more on this article here...
 

Friday, April 13, 2012

Bix Weir hangs JP Morgan out to dry on silver manipulation

Economic analyst Bix Weir wrote a very informational and evidentially sound piece on how the government and JP Morgan manipulate the silver market to the tune of $Billions per year.  In fact, if regular market forces were allowed to work, the current price of silver on paper could look like $8250 per ounce.



When the computer rigging programs were implemented there needed to be some kind of cover to ensure secrecy and maintain a false confidence in free markets. In 1974 Congress passed the Commodity Futures Trading Commission Act that overhauled the Commodity Exchange Act and created the CFTC as an independent agency with powers greater than those of its predecessor agency, the Commodity Exchange Authority.

From that moment the CFTC has been run by board appointees that showcased a revolving door of Wall Street insiders ensuring that the computer market rigging operations were not interfered with. The only notable exception is Brooksley Born who was fired by President Clinton when she found out the truth about our supposed "free markets" and tried to warn everyone. (see The Warning)

http://www.pbs.org/wgbh/pages/frontline/warning/view/

http://www.investmentrarities.com/ted_butler_comentary09-02-08.shtml

Since this report was published JP Morgan has continued its silver market rigging antics in an effort to get out of this precarious short position. After Butler exposed JPM as the culprit there have been wild orchestrated swings in the price of silver as JPM attempts to cover their massive COMEX short position. The price of silver has risen from $13 to currently over $30 in this time frame and the size of the short position held by JP Morgan has gyrated wildly between 30k and 40k contracts as they desperately try to shake the longs to cover their shorts. But even with this rise in price the short position is STILL around 20k contracts according to the CFTC's latest Bank Participation Report.

Here's where I get to $8,250 per oz for silver.

1) I know silver has not been freely traded in 40 years so today's price if irrelevant.

2) I, like many, estimate there is only about 1B ounces in above ground physical silver for investment purposes.

3) I, like many, estimate there is only 5B ounces of above ground physical gold for investment purposes.

4) If the price of gold is not manipulated, like the banks claim, then the price of silver should be 5x the price of gold due to its supply/demand fundamentals.

CONCLUSION: The price of gold is around $1,650/oz so the true Fair Market Value of Silver should be around 5x the price of gold or $8,250/oz in a FREE market! - Road to Roota.com

Sunday, December 18, 2011

Gold: If you don't hold it then it could be open for confiscation by trustees

In the aftermath of the MF Global theft and scandal, a new discovery is surfacing in the legal capabilities of bankruptcy trustees.

The right to confiscare property, even if it is owned by clear deed or receipt by a customer not associated with the failed company.

The bottom line is that apparently some warehouses and bullion dealers are not a safe place to store your gold and silver, even if you hold a specific warehouse receipt.  In an oligarchy, private ownership is merely a concept, subject to interpretation and confiscation.
Although the details and the individual perpetrators are yet to be disclosed, what is now painfully clear is that the CFTC and CME regulated futures system is defaulting on its obligations.  This did not even happen in the big failures like Lehman and Bear Sterns in which the customer accounts were kept whole and transferred before the liquidation process.   - Jessie’s Café Americain

With MF Global, we first learned the diabolical consequence of Re-Hypothicaton.  Now, the other shoe drops and the system is showing its bite and is claiming the right and power to take legitimate private property, albeit the gold and silver investors own and have stored in warehouses.

The old axiom every investor should know:  If you don't hold it, you don't own it.

Cant wait for the owners to sue the CME and the judge awards them fiat currency, while the exchanges get to keep your gold.