May 16, 2008

Resource Investor reports on CFTC denial of silver manipulation

CFTC Sees No Evidence of Manipulation in Silver Market

By Jon A. Nones
15 May 2008 at 06:04 PM GMT-04:00

SEATTLE ( -- Much to the chagrin of silver enthusiasts who believe the price has been artificially held back, a second study in four years by the U.S. Commodity Futures Trading Commission (CFTC) revealed no evidence of manipulation in the silver futures market. Silver bugs now question the CFTC.

“The CFTC is criminally negligent. This is an agency that makes it so the big commercial banks can do whatever they want. The public has no faith in the CFTC or FRB anymore,” commented one RI reader.

During the past 25 years, the CFTC has received numerous complaints from silver investors like the one above alleging that the price of silver futures traded on the NYMEX has been manipulated downward. In 2004, the Commission responded to investors' concerns in an open letter that concluded that the existence of a long-term manipulation was not plausible....

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