Outstanding Silver Issues Pile Up at the CFTC

I have never been a fan of begging the powers that be to do the right thing, it never works. It is equivalent to a teenager crying to their parents for the car. The only way the parents truly respect the teenager is when they buy their own car. These guys at the CFTC are totally bought and paid for by the Elite.
I prefer to take power by taking physical delivery of silver every chance we get. Sooner or later the market is going to blow up on these guys and they will be lucky to get away prison for the fraud that they did nothing about. Judging by the declining inventory at the CRIMEX it should not be too long. Needless to say here is a good email by Bix Weir. Pester them with this email. -Silver Shield

Gary "Goldman" Gensler


June 14, 2011

Commodities Futures Trading Commission

3 Lafayette Center

1155 21st St. NW Washington, DC 50581

Re: Outstanding Silver Issues

Dear Commissioners:

As you know I have been both a critic and supporter of the CFTC over the years. Prior to the market crash in 2007/2008 I was convinced that the CFTC’s sole purpose was to run cover for the obvious silver market manipulation. But after the economic crisis and as the Dodd-Frank Law was being developed I saw that there was a positive change at the CFTC and was hopeful that you had turned a corner and were going to start regulating the silver market in a more fair manner.

As of today the CFTC has TAKEN NO ACTION to either slow or stop the blatant manipulation of silver yet you have also not closed any of the open items related to the silver manipulation. Today the CFTC decided to DELAY once again the implementation of new rules designed to stop manipulation. All these delays I find very curious as in the past you were fairly quick to open and close the silver manipulation issue.

Given that you have decided to continue the delay tactic many important open items have begun to pile up. As a citizen of the United States of America and a participant in the silver market I would like you to publicly address the status of the following list of “OUTSTANDING SILVER ISSUES”:

1) The Dodd-Frank LAW required the CFTC to IMPLEMENT the new laws no later than January 17, 2011. The implementation of this law would seriously reduce the amount of market manipulation as it relates to concentrated position limits, High Frequency Trading, manipulative trading practices and the invisible Over The Counter silver market. By not implementing these laws the CFTC is currently BREAKING THE LAW.

2) The concentrated COMEX silver short position held by a single US bank stands at approximately 100M ounces. Given that the Hunt Brothers held a 90M ounce long position when the CFTC charged them with market manipulation in the 1980’s it seems clear that this larger short position is more manipulative.

3) The 3rd investigation into silver market manipulation has been going on for three years. A few years back the investigation was sent to the ENFORCEMENT DIVISION of the CFTC which means you have discovered that the silver market is (or at least was) being manipulated yet there has still been no announcement of your findings.

4) CFTC Administrative Law Judge George Painter submitted his retirement letter in September of 2010. In this letter Judge Painter exposed the other CFTC judge, Judge Levine, as promising CFTC Chairwoman Wendy Gramm that he would “never rule in a complainant’s favor” and in a career spanning 20 years he never has. No investigation on this matter has been announced and Judge Levine still presides over the CFTC cases of manipulation. http://www.scribd.com/doc/39805019/J…nd-Order-dcpdf

5) In 2010 a genuine whistle-blower named Andrew McGuire came forth to expose a future manipulation of the Silver Market by JP Morgan. Mr. McGuire told the CFTC BEFOREHAND that he was contacted by a trader at JPM that a market rigging event was about to take place. Mr. McGuire provided the CFTC with who, how, why and when it was going to take place. As predicted the manipulation maneuver occurred under the full view of the CFTC yet no action has been taken against JP Morgan.

6) In the latest silver manipulation the price of silver was slammed down $6 in a matter of seconds on a Sunday evening in the very illiquid after hours market. This began the waterfall of silver from $50 to where it currently stands around $35. The CME and various brokerage houses increased margin requirements repeatedly after the initial slam to assist in the manipulative squeeze of COMEX long silver holders forcing them sell even more long contracts and suppress the price. A 30% decline in any other market would be front page news with regulators announcing investigations and inquiries but the CFTC has not said a word about the silver price drop. It is as if the CFTC PURPOSEFULLY turned a blind eye to support the operation.

7) Last year Commissioner Bart Chilton publicly stated that there HAS BEEN MANIPULATION IN THE SILVER MARKET. Of course he was stating the obvious but a much bigger question remains unanswered…If the CFTC knows there was manipulation in the silver market in the past WHY are they continuing to allow further manipulation as recently experienced by the 30% forced decline in the price of silver?

Each one of these “Outstanding Silver Issues” must be addressed at some point in the future. I understand that the revelation of silver market manipulation will seriously effect both the price of silver as well as trust in our fundamental understanding of both free markets and government regulation. I also understand that it will unleash significant chaos at a time that our economic and monetary systems are structurally unstable.

But there is just so much silver investors can take!

As our Declaration of Independence so eloquently put it…

“all experience hath shewn that mankind are more disposed to suffer, while evils are sufferable than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.

As we approach the July 4th celebration of our nation’s independence I want you to ask yourselves a very simple question…


May the Road you choose be the Right Road.

Bix Weir www.RoadtoRoota.com

VIA EMAIL TO: ggensler@cftc.gov; bchilton@cftc.gov; mdunn@cftc.gov; somalia@cftc.gov; jsommers@cftc.gov; jriley@cftc.gov; dberkovitz@cftc.gov; hhardman@cftc.gov; rshilts@cftc.gov; vmcgonagle@cftc.gov; pcela@cftc.gov; ssherrod@cftc.gov

13 comments to Outstanding Silver Issues Pile Up at the CFTC

  • Bob

    Unfortunately, these “gentlemen” are simply whores taking their marching orders and their paychecks from their pimps above. Look at the story of Brooksley Born, a real hero who tried imposing regulation on the derivatives market. She was thwarted every step of the way. Frontline did a great story on this that everyone needs to see. (She knew that the whole thing was about to blow up, and not soon after Capital Management needed a bailout.) You can’t blame her as she was always overruled by those above her. I think the CFTC may have good intentions, but may be thwarted from above and probably also lack the necessary courage to do the right thing. As Bob Chapman says all the time, these people are criminals; they do what they want.

    I think letting these people know that we are watching them is bound to make them a little uncomfortable (maybe). The general content of your email was excellent and reminds me of the recent Ted Butler letter to the CFTC.

    By the way, your recent facebook article was one of the most credible and compelling reads I have had in a long time. Great work, Chris. You are brilliant.


  • Jon

    What’s even more scary, the folks who will defend the present system & or don’t understand or care to know the real issues. They play into the medias deflective points. Blame illegal immigrates, gay marriage, abortion, welfare. No wonder the blatant elite find no fear in continuing the facade. The amount of books coming out about all this is staggering, yet American idol is what the public is watching.
    Even when confronted with the truth, people just look the other way and convince themselves it will work out okay.

  • jack nichols

    Chris is on top of his game as shown here with this let it all hang out letter to the CFTC. Americans that are paying attention are no stranger to CD. When the end does materialize it will be the beginning for those prepared students of Chris. Chris will go down in history as a true patriot of this age like the founding fathers in their time.

  • twisted titan





  • Bob

    I guess we don’t always read things carefully enough, but this is Bix Weir’s letter to the CFTC; my apologies. I guess we all assumed Chris wrote it since it was posted here. Let me rephrase: GREAT WORK Chris AND Bix.

  • Nathan

    The day I see Gensler, Chilton etc on TV broadcasting the fraud, and heads of the banks receiving subpeonas….I’ll consider believing Bix’s Roota theory, til then….these guys are guilty til proven innocent.

  • Tom Bartosiewicz

    Don’t worry my brotha’s! Soon control will never again be theirs. The harder and longer they are able to surpress the price, the faster and higher the price will eventually bubble.

    We are probably not facing a revolution led by people, but one led soley by the the will of the world in defiance of tyrannical currency with has enslaved the world for far too long for the benefit of the very few.

    I will enjoy watching their world crumble!

  • Silver is a wild horse. She will throw you if she’s able.

  • Silver Shield

    I have been riding her for 6 years and 2008 I just rode her harder and beat her.

  • Few appear to know that Nelson Rockefeller was the main power behind the scenes in the founding of the CFTC in 1975. His brother’s banking organization is today the main force fighting silver. The government is never the enemy, the issue is an alliance of powerful people using the government to cheat investors and taxpayers. In his memoirs Mr. David Rockefeller reviewed the organizations he’s been associated with. All except ONE. I deal with this all important, overriding aspect in my free access 67,000 word documentary. Please help! I am attempting to prevent the President from being used to commit a major scale financial crime against Americans by repeating FDR’s illegal, anti-Jacksonian orders in gold in March 1933 and silver in August 1934. Help not with contributions, just spread it around. It’s all free access.

    • Silver Shield

      I highly recommend Silver Stealers from Charles.

      It is awesome.

      Charles can I reprint it here?

  • Some finishing changes are being incorporated into the documentary. As of June 29, please go to site, suggest you use HTML version, and link it here; or, you can “reprint” it, without any changes. Just add a link back to the companion site http://www.nosilvernationalization.org as it appears at end of document. That site features content relating to the activities of the Silver Users Association and the 312 page PDF file on Roosevelt’s gold & silver seizure.
    I welcome any assistance in publicizing this heavily documented presentation; it’s entirely nonprofit on my part. I PASSIONATELY want to see Americans right to own silver and gold 100% shielded from Presidential, Congressional or judicial expropriation, surreptitiously acting at the behest of this dangerous consortium of British allied financiers. Jeff Nielson of Bullion Bulls Canada and also, I believe Kenny Parsons of Silver Bear Cafe have expressed wish to repost the material, and the updated version will supplant the scaled down opening version at Silver Investor site.

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