Precious Metals Market Manipulation. Admission at CFTC Hearing on Position Limits

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Morpheus's picture
Morpheus
Status: Diamond Member (Offline)
Joined: Dec 27 2008
Posts: 1154
Precious Metals Market Manipulation. Admission at CFTC Hearing on Position Limits

Here it is folks. The smoking gun delivered on a silver platter (pun intended) at the CFTC meeting on PM position limits. 

This argument is settled. They admitted manipulation. This is a must watch. 

and....

John99's picture
John99
Status: Gold Member (Offline)
Joined: Aug 27 2009
Posts: 490
Re: Precious Metals Market Manipulation. Admission at CFTC ...

Reference the guy in the 2nd vid, Christie (I think is the name), 'snake-oil' salesman comes to mind.

West Oz 9999's picture
West Oz 9999
Status: Bronze Member (Offline)
Joined: Feb 26 2009
Posts: 53
Re: Precious Metals Market Manipulation. Admission at CFTC ...

Paper hedging paper...

China Russia etc buying metals and taking physical delivery.... risk is there will come a time of failure to deliver..

"Stop the ponzimonium.. this is a ponzi scheme". PONZIMONIUM (great word for our times)

I mean wow... If the paper trade is 100x bigger than the physical market, isnt it now logical that any metals purchased from the LBMA (if you actually want gold) everyone will be wanting physical delivery??? Is this the first time the fractional reserve accounting of the LBMA has been formally recognized for "unallocated accounts" as being an "unsecured creditor"?? Iam in shock!!.. But hey i shouldnt be surprised as i learn the true criminal nature of these types of events/ fraud every day..

Oh well i suppose its OK its been happening for decades.. Yeah theres never been a problem in the past.. HaHa

The message from anyone in the biz now will be at fever pitch... "TAKE PHYSICAL DELIVERY... GET OUT OF PAPER NOW"

Regards

West

JAG's picture
JAG
Status: Diamond Member (Offline)
Joined: Oct 26 2008
Posts: 2489
Re: Precious Metals Market Manipulation. Admission at CFTC ...

Hey Pete,

Is the mechanism entailed in this manipulation similar to the naked shorting of financial stocks that occurred in 2008? Also, do you know if the SEC ever banned naked short selling ?

Thanks for your time...Jeff

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