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Chilton says CFTC found much evidence of silver rigging; Schiff calls rigging 'rumor'
11:03a ET Tuesday, November 20, 2018
Dear Friend of GATA and Gold:
Bart Chilton, the former member of the U.S. Commodity Futures Trading Commission who pushed his agency to hold in a March 2010 public hearing that addressed manipulation of the monetary metals markets and called GATA leaders as witnesses, this year has been hosting Russia Today's daily "Boom/Bust" program, and last Thursday he interviewed fund manager and gold advocate Peter Schiff about market manipulation.
On the program Chilton revealed that during his service on the CFTC the commission found "all sorts of evidence of attempted manipulation and manipulation" of the silver market "but not enough to actually prosecute."
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Of course two weeks ago a former JPMorganChase trader confessed in federal court to manipulating the silver market with the knowledge of his superiors even while the CFTC was investigating:
http://www.gata.org/node/18596
In his comments to Chilton, Schiff remained dismissive of what he called "rumors" of manipulation of the monetary metals markets, while acknowledging that "some of the rumors are probably true." Manipulation, Schiff argued, is not the big reason for the poor performance of the monetary metals in recent years. Rather, Schiff said, investors are just too stupid to understand what is going on in the world financial system -- not that Schiff himself ever has done much to help them understand how governments long have been intervening in the monetary metals markets to support their currencies and bond prices.
Last Thursday's edition of "Boom/Bust" is can be viewed at Russia Today here --
https://www.rt.com/shows/boom-bust/444025-amazon-gold-prices-plane/
-- and the interview with Schiff is four minutes long, extending from the 5:44 to 9:48 marks.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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