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The Silver Conspiracy

It’s now going on close to 30 years since I first discovered that silver was manipulated by excessive and concentrated short selling on the COMEX. I remember the exact moment like it occurred yesterday. It’s hard to believe I was in my 30’s when this started. As I’ve explained previously, I was looking for an answer to Izzy Friedman’s question as to how and why silver prices remained so low when the market was in a supply/demand deficit.

Through no great accomplishment on my part, aside from having a futures market background of almost 15 years at the time, it suddenly dawned on me that silver prices were dictated on the COMEX, to the point of price manipulation. Everything that has transpired since has only confirmed to me that silver prices are still manipulated on the COMEX.

Despite not looking for a conspiracy (and not wanting to find one), the greater weight and flow of the evidence convinces me one exists in silver. To be clear, my distinction is that it is not just a small group of traders on the COMEX involved in a secret plot to suppress silver prices, but has now grown to include the CME Group and the CFTC. Since my long term understanding of the CFTC is that it has been, perhaps, the weakest and most ineffective federal agency of all, it is most likely that the CFTC’s inclusion involves more important federal agencies, specifically, the Treasury Department and the Federal Reserve.

First, let me make the point that I see the conspiracy as having started when JPMorgan acquired Bear Stearns in 2008, but really kicked into overdrive a little more than three years ago around the time silver reached $49. Currently the conspiracy to control and manipulate silver prices has never been stronger or easier to prove. In other words, while I can date the ongoing silver manipulation on the COMEX to 1983, it did not become an organized conspiracy involving the US Government until 2008. Moreover, I don’t believe that the regulators’ involvement was well-planned and deliberate from the start; it was more a case of bungling a set of emergency circumstances and a subsequent cover up.

The tipping point of the silver conspiracy was the takeover of Bear Stearns in March 2008 by JPMorgan, which was publicly orchestrated and arranged by the Treasury Dept. and the Federal Reserve. The acquisition allowed for the unreported transfer of the largest concentrated short position ever known to exist, thus enabling JPMorgan to step in and continue the manipulation of silver prices as Bear Stearns had done until its failure. No one could deny that Treasury and the Fed were not active participants in arranging the Bear Stearns/JPMorgan takeover and were fully aware of Bear Stearns’ massive concentrated short position in COMEX silver (and gold).

I know full well that 2008 was a perilous time in the financial world and I understand (to some limited extent) what the financial authorities were up against. Further, I don’t necessarily disagree with most of the actions they took. The problem is that no matter how well-intended was the rescue of Bear Stearns, it is what has occurred since the crisis subsided that constitutes the silver conspiracy.

Source Gold Silver World

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