CFTC to Drop Silver Investigation

 http://www.silverdoctors.com/

 

 

At the end of May, the CFTC’s Bart Chilton informed SD that the CFTC’s 4 year silver investigation would likely be concluded by September.
Chilton informed us that the silver investigation would be concluded in the ‘next 2-3 months‘ and that ‘there has been a lot of action in silver markets for the past several months. We have a new individual with lots of experience (former silver trader and regulator who caught manipulation before at FERC). He, and his staff, have been looking at trades in detail each time some potential anomaly occurs. There has been more staff hours dedicated to looking at silver in the past few months than anyone would believe.‘

Apparently all of those new CFTC employees were watching online porn like their counter-parts at the SEC rather than investigating silver anomalies, as the FT reports tonight that the CFTC is set to drop their 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.’
The CFTC’s ‘investigation’ reportedly analyzed over 100,000 documents, and included dozens of interviews of traders, and specifically focused on JP Morgan.

If silver is trading in a freely traded market, just why we might ask did it take 4 years and 100,000 documents to determine this?
Does anyone really think for one moment a government regulatory would devote 4 years of efforts to investigate a truly un-manipulated market?

While laughable and a disgrace to the CFTC, the decision comes as no surprise to us or likely any of our readers.
We have long stated that the purpose of gold and silver manipulation of the interest rate swap derivatives complex, and the manipulation will only end when free market forces cause a shortage in the metal, and the entire multi-decade price suppression blows up in the cartel’s faces like an EMP at 50,000 ft.