Comment Text:
It is obvious to even the most casual participant/observer of the silver market that concentration and manipulation of the silver market has been a continuous and ongoing endeavor of JP Morgan. What is not obvious to the casual observer, is the fact that JP Morgan is acting as an agent of the FED/Treasury. The FED/Treasury cabal, can not tolerate hard assets (silver and gold in monetary form) returning to monetary status (as our US Constitution requires). Silver has become a perceived enemy of their misguided "central planning" efforts. Free markets have become a casualty as a result of this FED/Treasury fostered manipulation . Free markets are what built this country and now we "kill them". My understanding is that CFTC is the regulator charged with preserving a free market system in commodities, including the silver market. To that end, limits on short positions by any one activity are essential to a "free market".
The CFTC now appears to be "trapped" by this non-free market FED/Treasury cabal and placed in a position of ceding carte blanche regulation of silver positions to JP Morgan, the very organization CFTC is charged with regulating. The results is that the silver futures market short positions are concentrated in one organization- JP Morgan, naked short positions are generated at will by JP Morgan (something I can not legally do), and the market is fully controlled and manipulated by JP Morgan, i.e., it is no longer a free market.
Why do we have a CFTC if there is no regulation to foster a silver free market. We need to be honest with ourselves and admit that we are a centrally planned economy, free markets are dead, and when the entire manipulation "blows up" this should be of no surprise to anyone, least of all the CFTC. The CFTC will be the "goat" when Congress holds an obligatory hearings to "find out" how such an egregious set of events were allowed to "happen". Their hearing results: We Need More Regulation. So predictable. So sad.
