After 5 years of their investigation of silver manipulation, the WSJ reports tonight that the CFTC is having internal discussions regarding the manipulation of gold and silver on the daily London fix.
While we can’t say more, it appears that the CFTC may be trying to get in front of some big news that is reportedly scheduled to break in the very near future regarding the alleged gold and silver manipulation.
2013 Silver Eagles IN STOCK As Low As $2.59 Over Spot at SDBullion!
From the WSJ:
The Commodity Futures Trading Commission is discussing internally whether the daily setting of gold and silver prices in London is open to manipulation, according to people familiar with the situation.
No formal investigation has been opened, the people said. The CFTC is examining various aspects of the so-called price fixings, including whether they are sufficiently transparent, they said.
Gold prices are set twice daily by five banks via teleconference, while three banks set silver prices. The fixings are then used to determine spot prices world-wide, including jewelry and sales from mining companies to refineries. The prices also help determine the value of derivatives tied to the metals.
The London gold market fix dates from 1919, and now sees twice-daily conference calls involving units of five banks: Barclays, Deutsche Bank AG, HSBC Holdings PLC, Bank of Nova Scotia and Société Générale.
Spokespeople for Barclays, HSBC and Deutsche had no immediate comment. Representatives from the other two banks couldn’t immediately be reached.
The silver fix, dating from 1897, involves Scotia, Deutsche and HSBC.
“[The fixings are] not arbitrary, it’s very much done on a demand supply basis until a price is arrived at. It’s fully transparent, it’s nothing like Libor,” said a spokesman for the London Bullion Market Association, the trade organization that sets the standards for the quality of gold and silver traded in the London market, but do not run the fixings.
If previous history is any indication, we should expect the CFTC’s discussions to wrap up, oh, say sometime in 2018.
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_silv.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_gold.gif)
Oh great I’ll start holding my breath now lmao.. they did such a good job busting the crimex, I’m sure they’ll be right on top of busting the snaggle toothed UK goons..
Oh God, not this s–t again..
The CFTC needs to be disbanded as a useless, captured, and now absurd agency.
So, the CFTC thinks there might be some hanky-panky going on with the daily London fix price, but can’t for the life of them see the daily smack-down on the COMEX…..yeah right!
I see someone must have got wind and decided to go to work on silver after the close (after it got shit kicked during crimex hours).
lol.. silver to 100.
Someone want to tell those pricks that London’s a TINY bit out of their jurisdiction?
Sort your own fucking back yard out first, you CFTC muppets!
I hope after this people learn to not put their trust in all these regulatory agencies that regulate only the pee-ons.
Key word “Discussing” which is code for …….ain’t nothing gonna happen.
London Fix sounds alot like price fix to me!!
Keep stacking people, never look a gift horse in the mouth.
YAWN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
If the CFTC is investing, then it means someone else has an airtight case and is about to blow the whistle.
The CFTCs role is to filibuster and replace genuine investigation with a prolonged pseudo investigation that they can drag out and declare inconclusive once the immediate media spotlight is turned away.
Bart Chilton has said numerous times that it is nearly impossible for the -inept- (my word) CFTC to prove intent to manipulate a commodity. This of course begs the question why the CFTC should continue to exist. The backer enabling CFTC has only a couple of manipulation cases under their belt for the whole of their 30 plus existence. CFTC retiring Judge Painter revealed the CFTC chairperson Wendy Gramm told a new CFTC judge never to rule for a plaintiff alleging manipulation.
“CFTC retiring Judge Painter revealed the CFTC chairperson Wendy Gramm told a new CFTC judge never to rule for a plaintiff alleging manipulation.”
Certainly not if they expect to get a cushy job at one of the big banks AFTER they leave government “service”. Biting that hands that feeds one is usually not the way to win friends, influence people, or suck it up big-time at the manipulator’s feeding trough.
Look at the list of banks who set the London Gold Fix. Poster children for corruption and fraud.
“The London gold market fix dates from 1919, and now sees twice-daily conference calls involving units of five banks: Barclays, Deutsche Bank AG, HSBC Holdings PLC, Bank of Nova Scotia and Société Générale.”
The Silver Fix is just as bad.
“The silver fix, dating from 1897, involves Scotia, Deutsche and HSBC.”
Is not “price fixing” inherently corrupt? If the free market was setting the PM prices, it is likely that competitive bidding would push those prices MUCH higher than any “fix”.
All sarcasm aside this is still a nice post Doc—-
So, TF metals today talking about ASE sales in 2013 being at 12,471,000 ounces here in mid-March on the way to a projected 60+ Million Eagles….
Add to that Chris Duane has said they sold a quarter of a million ounces….to whatever the Canadian mint has sold…… Makes me want to ask you what you know of any supply problems currently going on??
What!!! Me Manipulating? No Way, You Can Trust Me, I’m A Banker.
You know, that kind of looks a little like CFTC Chairman Gensler. Hmmm….
1 part Gensler, 1 part Mr. Burns from The Simpsons, 1 part Mikhail Gorbachev, 1 part chicken neck rooster (aka “Turken“); shake and stir and presto…
Brother Charlie ………My Dart board thanks …….YOU……..
As the media is all a-gaga about the new DOW high hit this morning all I’m thinking about is the timing. Obviously, if you’ve been on this Road for long enough, you know that the computer market riggers can PLACE the price of the DOW and any other market to wherever they want on any given day. But why did they choose today?
I believe for two reasons:
1) The 4 year rigging operation that I discussed in March 2009 ends this week. Unless it is extended…the banks are on their own without Official US Government rigging support. Go check the Stock Market Lows for the last attempt to take down the Banking Cabal in 2008/09. You will find that the exact low for the last market crash happened on March 9, 2009. That gives them 4 days to “make something happen”.
2) Tuesday is the reporting cut off for the CFTC Commitment of Traders Report and any major moves (up or down) in COMEX gold and silver positions happen AFTER the close on Tuesday because the data won’t be reported until the following Friday. That gives them 10 days to make big moves without alerting the Sheeple COMEX Data Watchers
There are no coincidences and I discuss why NOW things are about to change in or battle to take out the bankers in the latest Friday Road Trip (Private Road Subscribers)
Friday Road Trip 3/1/2013
http://www.roadtoroota.com/members/1116.cfm
We have arrived once again at a point of no return. Will we choose the Right road this time or will be repeat our old mistakes?
It is up to us now.
May the Road you choose be the Right road.
Bix Weir
So let see if Bix is onto something.. I have been saving this and now this latest of CTFC information is revealed or I should has not been revealed.
Even if the bullion banks go net long or neutral on gold and silver, there is no way in heck the price suppression efforts end this month. To suggest this is just silly — almost as silly as suggesting that Alan Greenspan and others Bix has named are actually “good guys” working behind the scenes to fix our monetary system. His “Road to Roota Theory” suffers from flimsy logic, misinterpretations of the intent of people like Greenspan, and generally poor documentation — and yes, I’ve actually taken the time to read his expounding of the theory at his website.
The powers that be may be willing to let JPM and other parties get neutral or long so as to not have more banker road kill as the price of gold and silver are allowed to rise. But don’t be confused by observations Jim Sinclair and others are making about managing the paper spread trade towards the upside rather than downside. The powers that be will continue to have every incentive to make sure the price of gold and silver do not rocket too fast to the upside. Pressure from the physical market and central bank buying (China, Russia, etc.) make it such that the Western central banks need to execute a managed retreat to higher prices. But suppression efforts will not go away. They’ll just be moderated for a period of time until the managed retreat to a higher, defendable price level is reached. From there, we may see less aggressive manipulation versus the massive efforts of the last six months. But manipulation will still be needed to keep the price rise from moving too fast. Ultimately, the final “end game” action will involve a global currency trading system reset and official sector marking-up of the price of gold thousands of dollars higher (if not tens of thousands of dollars higher).
Thank NetRanger very interesting article I hope Bix is right on this one. Seems it’s falling into what Sinclair was saying about March24-27. We will see.
Marchas45. Not a problem..I read Bix whenever, I can receive an e-mail. Any information is better than nothing. Except from that guy “Hello my friends” Ugh…
For everyone fed up with the corruption, may I suggest an independant scientists words on it. The book “The Diamond Priciple” by James M. McCanney, revealed to me just how unbelievably extensive and connected it really is. jmccanneyscience.com Man is still living by the law of the jungle, survival of the fittest in a distorted terminal game of monopoly. We live in an economic model, that forces slavery onto the masses… While rewarding those who cheat and steal. Our existence as a species is at the crossroads as we realize space faring capability. We also realize that this fragile existence could be wiped out on a moments notice by forces we cannot control. New sets of universal priciples are presented based on Professor McCanney’s proven science. Like a well cut diamond “The Diamond Priciple” has many complex facets.
They are going to do what they are going to do. What we think, do, or say has zero effect on the macro reality. Total waste of breath and energy to be even slightly concerned about it.
CFTC is more toothless than Ma Kettle giving Jethro a gummer.
Ewwwww… X-[
Another Waterfall Drop!
All 25 commodities are down!
http://www.investing.com/commodities/real-time-futures
*yawn* another waste of taxpayer money to divert attention from the real manipulation
I believe it was Adrian Douglas that exposed the manipulation with the am/pm fix. I am certain the cftc would find all the evidence they required with Mr.Douglas.s work. Gata might have it.
Adrian was one of the first to expose it — if not THE first. He certainly made it well known through GATA.
For those that might not know, Adrian passed away this year after a long fight with cancer. He will be greatly missed.
With reference to whether ”the daily setting of gold and silver prices in London is open to manipulation”, this question can be answered with the following question: Is the Fed funds rate manipulated by the Fed?
The answer to both questions is: Yes, of course.
Why? To suppress the value of real money and prop up the relative value of worthless fiat currency.
Study GATA. Public documents from the US Government state the Dollar price of Silver will be supressed, and the relative value of the worthless fiat dollar will be propped up.
By saying that you “won’t say too much” you’ve said too much. This must be the revelation Bill Murphy has been talking about for 8 months.
You mean that the CFTC is pretending to investigate on the manipulation of gold and silver’s markets and that they are pretending to do their jobs. I have a strong feeling that the CFTC will simply forget about the manipulation again after the discussions.
I mean that “While we can’t say more, it appears that the CFTC may be trying to get in front of some big news that is reportedly scheduled to break in the very near future regarding the alleged gold and silver manipulation” sounds a lot like @The_doc is referring to the same exposé bill has been talking about.