Comment Text:
Since 6 years I observe the silver-market from Germany, Black forest, near Stuttgart.
I wrote about 20 emails to the members of CFTC and others (p.e. the german BAFIN, german newspapers, p.e. “Manager Magazin”, german politicians).
My analysis is: the silver-price is not the result of real market-conditions.
The silver price is manipulated, by big institutions with big manipulation-power (JP Morgan, HSBC ?).
I don’t know the instruments of manipulation. I suppose that they use extreme large shorts unpossessing the real metal.
I think, that the CFTC knows better, how they do that. In 2008 they coud beat the silver price from 20 to 8 Dollars. I know, that they didn’t that with physical silver, but with paper.
I think, that the silver-price-manipulation stands in context with Dollar-stabilization and there is no interest to reduce the position-limits. I think 500 were enough.
I don’t believe that position limits can end the the manipulation; JP Morgan will find other ways.
The Hunt Brother were accused due to conspiracy. I don’t believe on american justice. I would regain my confidence if the manipulators were impeached. The minimum were decided restricted position limits.
Despite the manipulation we have now a silver-price of 34 Dollars. JP Morgan and others should have problems. I am shure, that they are rescued.
Hans-Georg Hiller
Germany
