| | | silverstockreport.com Newsletter CFTC Webcast link & More!
March 24th, 2010
| Dear Reader,
Here is the link to the CFTC hearing webcast for March 25th, Thursday, 9am Eastern to 3pm:
http://www.capitolconnection.net/capcon/cftc/032510/CFTCwebcast.htm
The CFTC is asking for comments from the public about the issue of position limits to limit excessive speculation (fraud) in the futures markets. They want to hear from the public until April 30th. Please send your comments to: Written materials should be mailed to the Commodity Futures Trading Commission, Three Lafayette Center, 1155 21st Street, N.W., Washington, DC, 20581, attention Office of the Secretariat; transmitted by facsimile at 202-418-5521; or transmitted electronically to metalshearing@cftc.gov. Reference should be made to "metals position limits."
If you don't know what to say, please re-read my latest commentary:
Metals Position Limits
http://silverstockreport.com/2010/cftc-letter.html
Here is what the best silver researcher and expositor of silver in history had to say:
wow! Your March 23 release shows why you're frequently cited as the best in the PM community. I want to re-read it twice in the AM. Best, Charles Savoie
=====
A few people, including Bart Chilton, have again asked about motive. "Why would anyone want to keep precious metals prices down?"
GATA explains why the government admits it would be good policy:
http://gata.org/node/8462
In sum, by keeping precious metals prices down, they can keep interest rates down, and strengthen the dollar.
In math terms, since the dollar exists, they can print up $3 trillion per year to fill the deficit, by faking out the bond market, with artificially low interest rates. That's $3000 billion.
By contrast, the entire world's annual gold output is $80 billion, and the entire world's annual silver mine output is $11 billion. By keeping metals prices low, and manipulated, they keep the currency alive. With the currency still viable, they earn far more than stealing many times the world's gold mine output, in terms of value.
Other comments follow:
| |  Attn CFTC Commissioners:
Jason Hommel could not have defined the ongoing PM futures fraud & looming COMEX Default Crisis any better. The CFTC supposedly exists in the public interest, to detect and stop illegal price manipulation, especially so blatant.
Thank you for finally taking the Precious Metals Manipulation Fraud seriously enough to have a public meeting on it. We will see if appropriate action is taken based upon the decades-long growing mountain of manipulative evidences.
If the CFTC does not formulate and quickly implement an "exit strategy" for heavily leveraged concentrated short position manipulation immediately, the increasingly acute physical silver shortage and impending free market "correction" will most likely result in the complete destruction of the USDollar, possibly almost overnight, as well as the overall US economy in times of increasing massive bailouts and new and growing entitlement spending. If American and USDollar Destruction and is not the secret goal of appropriate long-overdue regulatory action, then in the interests of the public the CFTC is supposed to protect, please formulate and implement such a strategy immediately.
Continued complicity by the CFTC, especially as it relates to the blatant Silver Price Manipulation which the general public is becoming increasingly and incremenetally aware of would constitute or at least present the extremely strong appearance of dereliction of duty on behalf of the public trust, if not playing the role of enabler in the apparent ongoing fraud, by the likes of JPMorgan and other "Bernie Banking" institutions, which under TARP and FED Actions in continuing "crises" have become even "too bigger to fail", thus enabling them to continue to make increasingly risky speculative "bets" with very heavy leverage, and almost certain guarantee of continued monolithic bailouts in the event of inevitable failure... which combined with continued massive paper "money" printing at THE FED, is a recipe for INSTANT HYPERINFLATION.
Thank you for taking into serious consideration the extremely important regulative mandate of the CFTC, and ramifications of continued complacency and inaction regarding the blatant ongoing fraud, US Currency and economy.
Most Sincerely,
Lenny Arendt | | China manipulates it's own currency, USA manipulates gold and silver.
Dear Jason, In today's Sun-Sentinel paper, article headlines "Imbalance in China trade saps U.S. jobs". This cost the United States 2.4 million jobs between 2001 and 2008. The article goes on to say "The Institute wants Washington to press China to raise the value of its Yuan currency so Chinese goods become more expensive. It accuses China of " CURRENCY MANPULATION" to keep the Yuan as much as 40% below its real value to artificially fuel exports"
Maybe this could be mentioned somehow at the CFTC meeting Thursday. We the U.S. don't like how China manipulates it's currency, but it's ok for us to manipulate gold and silver prices?! Silver and gold bugs are sitting on a lot of " Consumer Confidence" meaning we can jump start the economy thru purchasing STUFF, only when the price goes where it naturally should go! Otherwise WE ALL will just sit on it until who knows when??? Good Luck at the meeting, my prayers are with you.
| Attn: CFTC Commissioners:
If it is in-fact futile to try to properly regulate commodity futures markets, as CFTC Public Hearing panelist Tom LaSala plans to argue, due to the claim that it will only push illegal price manipulation schemers offshore, then perhaps the CFTC should just concede to his argument that the ongoing and increasing decades-long fraud in Precious Metals Price Manipulation is unavoidable, recommend that the massively leveraged theft be legalized, and disband itself immediately.
The exact same reasoning has been used to legalize casino gambling in states across the nation after Los Vegas, butt... The High Stakes risks of allowing "too bigger to fail" financial institutions to continue betting against an increasingly imminent COMEX Silver Futures Default amidst an the increasingly acute Silver Shortage dwarfs prior global crisis,
and jeopardizes entire American economic "recovery" & the USD Paper Currency (FED'$ gross national product).
If this flawed fig-leaf reasoning is used for cover to somehow "justify" allowing the increasingly massive fraud & theft scheme to continue, robbing Americans and USDollar holders globally of their savings, why wait? Just recommend that the US Treasury Dept declare the "Farce de Majeure" immediately, default on all that beastly growing USDebt, and aid the global elites and global central governments to hasten their move away from USDollar hegemony towards a NWO Global Super-Currency, by necessity of course, in an otherwise avoidable new crisis of much greater magnitude.
"Never waste a good crisis." -An Administration
Alternatively, the CFTC may suggest moving back to Constitutional Money, Gold & Silver, prior to Total Collapse...
Sincerely,
Lenny Arendt
A Concerned American
Related Articles on illegal PM Manipulation:
CME Against Position Limits @ CFTC Meeting in DC Tomorrow:
http://www.reuters.com/article/idAFN2415669820100324?rpc=44 | | | | Quick Links... Products: Silver and Gold, available at the JH MINT!
| Contact Information to order silver and gold from jhmint.com
phone: (530) 273-8175 | | | | | |
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