CFTC scandal
CaptHenway
Posts: 32,119 ✭✭✭✭✭
This story was mentioned in the 1600+ postings thread. I think it deserves its own thread.
CFTC scandal link
CFTC scandal link
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
0
Comments
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
corrected link
much capacity each company must mothball to drive prices higher. There are no new
companies any longer because they are heavily discouraged by government regulations
and interventions. If one does somehow get going then big companies will engage in
monopolistic practices to drive them out.
I can't remember the last time a merger was deniied because the resultant would con-
trol too much of a market. If today's trends continue we'll have one company in another
few decades.
Government just doesn't have a problem with anything any large organization wants
to do. If the big banks want to manipulate markets then there's no problem, at least till
the economy fails.
The LME defaulted on nickel a few years back and there was no outcry. Of course now
days stainless steel rusts but no one cares about that either.
As long as no one cares, as long as people don't even return junk to the stores and
accept that kids ain't getting no learning then nothing will change.
<< <i>Here is the kitco write-up
kitco cftc scandal >>
Link doesn't work.
<< <i>Here is the kitco write-up
kitco cftc scandal >>
try it now
TD
<< <i>Still doesn't work. Can't find anything on their site.
TD >>
The "judge" sent them a nastygram.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
edited: Levine for Painter
roadrunner
<< <i>
<< <i>Still doesn't work. Can't find anything on their site.
TD >>
The "judge" sent them a nastygram. >>
Here is the corrected link...
kitco
<< <i>If I was one of the hundreds of "losers" in Judge Painter's court over the past 20 yrs. I might be tempted to bring the case back up and seek damages. I don't think there is any time limit on govt fraud. New ground for lawyers needing work.
roadrunner >>
It's not Painter who is in question...
"Commodity Futures Trading Commission (CFTC) Administrative Law Judge George H. Painter made serious allegations regarding fellow CFTC judge Bruce Levine in announcing his retirement.
In a notice sent to complainants and their attorneys, Judge Painter claims that Levine told him that he had promised former CFTC Chair Wendy Gramm “that he would never rule in a complainants favor”. Painter’s notice goes on to say, “A review of his rulings will confirm that he has fulfilled his vow.”
<< <i>
<< <i>
<< <i>Still doesn't work. Can't find anything on their site.
TD >>
The "judge" sent them a nastygram. >>
Here is the corrected link...
kitco >>
Thank you for the link, but it should be pointed out that this (the link) is just a forum that members post to.
Did Kitco post anything that they originated?
TD
<< <i>Did Kitco post anything that they originated? >>
I don't believe so ...
Thanks for spotting that. I was going by my faulty memory from my post to the main thread yesterday. Have to remember that Painter "painted" Levine in a bad light.
roadrunner
Nothing is as it seems from the surface. Sad.
CFTC commissioner Bart Chilton spoke out today basically stating that there has been fraud and devious control of the silver market for an extended period. That's not news to anyone here. I'm sure the fiat bugs that have blinders and ear muffs on will continue to say there has never been any intent to hold down the gold and silver markets. And those massive short positions held by 2 or 3 banks for the past 4 years were just for "trading."
Hmm, that link worked for me the first time showing the full article. Now it requires a sign in after the first paragraph. You should be able to google "Bart Chilton" and have it come in full format. Bart Chilton has been one of the few regulators willing to listen to stories about manipulation. But it took way too long for this statement to finally come out. Maybe the CFTC is figuring the ship is going down and better to be on the rescue team than on the salvage detail.
roadrunner
What is the boards consensus on this article?>
That said, whatever the outcome, any judgements or fines will pale in comparison to the hundreds of billions, if not trillions that JPM/HSBC has made in their overall scheme to rig the PM markets as this ultimately affects currencies, bonds, and stocks. This doesn't even include all the money that was made by all their trading buddies who are not part of the lawsuit. It's so much easier to try and swing a tiny PM's market while making 50X that amount in forex, bonds, and stocks.
roadrunner
Mergers will be allowed unless they would give 100% of a market to a single company
Paper gold and silver can not exceed the physical goods by more then 1200%
Ponzi schemes, fraud and deceitful practices are allowed, as long as the proper bribes...........
I mean campaign contributions are paid.
It is OK for a company to lose money and need Government bailout and still pay the offending
officials huge bonus money for doing a heck of a job.
The bigger the scam the lessor the penalty.
Soon, we will no longer elect a president. Rather the Bildebergs will directly appoint a Chairman of the Board.
We the hungry peons are here to serve the elected officials. It is only by collecting coins, that we are able to
maintain the slightest hold on our collective sanity.
Things are not as bad as they may seem.....................................................................................they are worse.
Camelot