No Silver Manipulation
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Reuters-
U.S. regulators on Wednesday closed a five-year investigation into alleged manipulation of the silver market, saying 7,000 staff hours of investigation produced no evidence of wrongdoing.
The decision by the Commodity Futures Trading Commission was a defeat for silver commentators and investors who urged the probe, saying big banks were selling the metal short using futures and options to hold prices down. Big traders had dismissed the investigation as a waste of time and the charges as a conspiracy theory.
The CFTC formally closed the probe six months after a U.S. District Court dismissed a class action lawsuit making similar claims against JPMorgan Chase & Co..
http://www.reuters.com/article/2013/09/ ... SR20130925
Don't shoot the messenger. I know most will choose to discount or ignore the findings because they want to believe something else. It is what it is.
Cheers!
U.S. regulators on Wednesday closed a five-year investigation into alleged manipulation of the silver market, saying 7,000 staff hours of investigation produced no evidence of wrongdoing.
The decision by the Commodity Futures Trading Commission was a defeat for silver commentators and investors who urged the probe, saying big banks were selling the metal short using futures and options to hold prices down. Big traders had dismissed the investigation as a waste of time and the charges as a conspiracy theory.
The CFTC formally closed the probe six months after a U.S. District Court dismissed a class action lawsuit making similar claims against JPMorgan Chase & Co..
http://www.reuters.com/article/2013/09/ ... SR20130925
Don't shoot the messenger. I know most will choose to discount or ignore the findings because they want to believe something else. It is what it is.
Cheers!