Big Banks Dodge Silver Manipulation Investigation

Via Wealth Wire

A tedious investigation that began four years ago is coming to a screeching halt, taking serious pressure off JPMorgan and HSBC.
Allegedly, they were thought to be involved in some serious silver manipulation in an attempt to “deviously control” and manipulate the silver market.

Despite suspected fraudulent behavior, the big banks are getting another big break due to a lack of sufficient evidence to move forward with the costly investigation. Previously, the investigation honed in on other details – besides the two banks mentioned above – in an attempt to uncover secrets pertaining to the broader spectrum of silver market manipulation.
Jeff Nielson touched on this “enlightening” topic in a recent article revealing some startling truths about the overwhelming problem of gold and silver market manipulation.

He believes the fiat currency system is one of pure evil and allows banks like JPMorgan and HSBC to get away with these manipulation schemes.

The idea revolves around the concept of “banker-stealing.” Banker stealing itself isn’t technically illegal on its own because the banksters are able to use fiat currencies as a “tool” that functions similarly to other forms of wealth (i.e. silver and other precious metals) but Nielson contends that fiat currencies are intrinsically valueless. Once the public catches onto this notion – the idea that they are being conned by the banks – they lose confidence and the currency crashes.
Based on this mentality, many critics and silver investors suspect big banks have been manipulating the silver prices to be much lower than they should be…

Meanwhile, big banks counter-attack “conspiracy theories” by pointing out the “huge” physical stockpiles in various metals that banks keep hidden and locked away in their big vaults for their clients – ones in which banks hedge in the market by taking short positions.

Whether you’re buying that or not, the most recent manipulation investigation has been cut short after the Commodity Futures Trading Commission (CFTC) reportedly analyzed over 100,000 documents as of Novermber 2011. Additionally, it said it had interviewed dozens of witnesses, sought and received expert opinions.
Although no official statement has been given from the CFTC, the insufficient evidence is expected to bring the entire investigation to an end quite soon.

Two months ago Ted Butler, a silver investor and blogger, sighted the CFTC as being “negligent” when it came to ending some of the bogus precious metals market manipulation.
While there is no doubt that silver investors won’t be happy about this recent decision, if it does come to fruition, JPMorgan has declined to comment on the matter.

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