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Comment for Proposed Rule 76 FR 71626

  • From: Richard Morse

    Comment No: 57010
    Date: 3/6/2012

    Comment Text:

    Dear CFTC,
    before I start writing to Congress or DOJ, please let me have your views or comments on the allegations on today's web pages regarding manipulation of precious meals. Thank you;

    Richard Morse
    Phoenix, AZ

    "Wall Street banks. J.P. Morgan is the prime manipulator of silver. HSBC is the prime manipulator for gold. The Treasury enables and OKs it. It's called defense of the dollar as the reserve currency, which carries an amazing benefit: The USA can print the reserve currency (at least until all the other nitwits wake up. Some are, e.g., China, Russia, Iran, etc.)."

    "All this B.S. money is handed to Wall St. to manipulate the markets. The NYSE is definitely goosed every now and then. And it's all in the name of not letting the debt bomb go off as that would devastate - wait for it - the federal government; the states; Wall Street bigwigs; and, sadly, most of the savings in America that people retire on."

    "The same thing happens on the Chicago Board of Trade in regard to silver; in this case, there is corruption on the board of trade that allows people to trade paper instruments/derivates that are NOT backed by physical silver. This is a direct violation of regulations, but this is 'overlooked' (wink, wink) by the powers that be."

    "All paper instruments are supposed to be collectable in physical silver, yet the amounts dealt are in excess of what anyone could possibly deliver in person/via physical silver."

    The 5: "So where's the CFTC?" adds EverBank's Chuck Butler, reacting to an anonymous insider's claim that 3 million ounces were sold last Wednesday in the space of a few minutes.

    "Why aren't they calling around trying to find the mysterious Mr. X, to talk to him?"

    "And the selling continues. I shake my head in disgust, utter disgust. And you should too, for this smells like, walks like, talks like and quacks like someone didn't like the fact that the dollar was getting hammered by gold and silver and they needed to do something about it!"

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