U.S. Ends Long-Running Silver Market Probe, Taking No Action
By Frank Tang and Douwe Miedema
Reuters
Wednesday, September 25, 2013
U.S. regulators on Wednesday closed a five-year investigation into alleged manipulation of the silver market, saying 7,000 staff hours of investigation produced no evidence of wrongdoing. ...
But Democratic commissioner Bart Chilton, who had championed the silver inquiry, said he was disappointed.
"For me, there's not been a more frustrating nor disappointing non-policy-related matter at the CFTC," he said in a statement after the agency's announcement.
The Gold Anti-Trust Action Committee, an advocacy group that believes the Federal Reserve and banks are colluding to keep gold and silver prices artificially low, said it was not surprised by the CFTC decision.
"We believe that the U.S. government is part of the trading operation. In essence, you are not going to have the CFTC turn against its own government," GATA Chairman Bill Murphy said. "We are not even slightly surprised and had expected this."
A JPMorgan spokesperson declined to comment.
... For the complete story:
http://www.reuters.com/article/2013/09/25/cftc-silver-idUSL2N0HL1BE20130925 [1]
Precious Metals Round Table:
Where Do We Go From Here?
On Tuesday, September 24, Sprott Asset Management will assemble four experts for a live Internet broadcast about the prospects for the precious metals. Participating will be Sprott's CEO, Eric Sprott; financial letter writer and internationally renowned conference speaker Marc Faber; Sprott's chief investment strategist, John Embry; and Sprott Asset Management President Rick Rule. To participate, please visit:
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Louis Boulanger Now Seminar
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Sunday, October 13, 2013
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Gold Investment Symposium 2013
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Wednesday-Thursday, October 16-17, 2013
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The Silver Summit
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Thursday-Friday, October 24-25, 2013
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