Bloomberg finally published a story about the fraud in the silver market that I have been warning about for years. The MSM has done their best to suppress this news, out of fears that it would cause a massive flight from dollar denominated assets into the security of precious metals. The fact that its is being reported now means that the "gig" is up and the commodities options exchange is in danger of a very real collapse.
Get the bad news out so you can say you warned folks.
"The banks placed so-called spoof trading orders, or the “submission of a large order which is not executed but influences prices and is then withdrawn before it reasonably can be executed,” according to the complaint.
The Commodity Futures Trading Commission began probing allegations of price manipulation in the silver futures market in September 2008. At a hearing in Washington on Oct. 27, CFTC Commissioner Bart Chilton said there have been “fraudulent efforts to persuade and deviously control” silver prices and that violators should be prosecuted." (Source)
He might have said just that, but I can find no evidence that anyone actually reported it in the mainstream media. Otherwise things would have collapsed in 2008. The real reason comes out later in the article:
A separate, similar complaint filed yesterday on behalf of investor Brian Beatty, and naming the same banks as defendants, claims a whistleblower contacted the CFTC last year and reported the banks’ conspiracy to suppress prices of silver futures to profit from “enormous” short positions in silver futures. (Ibid)
No, the reason why the banks have been shorting silver and gold I might add, is because they want to create a smokescreen for the amazing shrinking dollar. The next shoe to drop will be the naked puts and calls the "arch-deceivers" have been trading. It is estimated that for every ounce of silver that actually exists in their vaults, the fraudsters have been trading 100 ounces in the Silver Options Market. Paper Silver, non-existent silver that grossly understates the real availabilty of the underlying commodity, and suppresses its real price.
Once all that paper disappears, and the dollar completes its descent into oblivion, The "New American Weimar Republic" will value silver at least 100 times its current value. That's $2300 per ounce, based on the disappearance of all those imaginary ounces of silver being traded out there.
Already, shortages exist in some markets and the metal will soon become impossible to obtain. I give it till the end of November and mid-December. Those of you in dollar denominated assets like the stock market, mutual funds, pension plans, bonds, life insurance and annuities are about to watch all your money disappear into the vortex of global financial fraud. What better way to destroy the middle class than taking away its money through hyper-inflation.
Contact Paul Drockton and Invest in Silver Bullion: HERE
