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The CFTC has already done all it can about silver -- and everything else

Section: Daily Dispatches

9:51p ET Wednesday, March 21, 2012

Dear Friend of GATA and Gold (and Silver):

Drawing on data collected by Nanex, Zero Hedge tonight calls attention to some high-frequency trading done yesterday to smash the price of silver down:

Some steadfast friends of GATA keep sending notes about such stuff to members of the U.S. Commodity Futures Trading Commission in the hope that the commission's 3-year-old (or is it 4 now?) supposed investigation of the silver market will report evidence of manipulation, and we hate to discourage them. But the delay of the investigation signifies plainly enough that the CFTC knows that what is going on in silver (and gold) is essentially a U.S. government operation implemented through a de-facto U.S. government agency, JPMorganChase & Co., and the commission just can't do anything about it. Not just gold and silver price suppression but commodity price suppression generally long has been U.S. government policy.

Indeed, it's miraculous that the toasted remnants of CFTC Commissioner Bart Chilton, who got GATA's Bill Murphy and Adrian Douglas into the commission's landmark hearing on silver on March 25, 2010, putting the silver suppression scheme on the public record and sparking the metal's sharp ascent, haven't been discovered in a Bessemer converter somewhere. Anybody who wants to know about the suppression of precious metals prices and the purposes behind it already knows or easily can find out. The bigger question is who dares acknowledge it and who doesn't.

When it comes to the world monetary system, the U.S. government is simply corrupt. As it is a matter of ruling people without their consent, empire can't help being otherwise. If Americans want to protest this, they should protest to their elected officials, their members of Congress and the president, and maybe to the news media -- there are still a few honest and intelligent people in those places. Don't bother complaining to the CFTC. It can't do more than it -- or, rather, one of its members -- already has done.

Or maybe a better protest still is just to buy a little monetary metal and sock it away in a safe place subject to the rule of law, if you can find one. (If you can, please let us know what it is.) These people will be glad to help you:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


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