All market data contained within the cme group website should be considered as a reference only and should not be used as validation against, nor as a complement to, realtime market data feeds. This month, comex silver open interest rocketed past 230,000 contracts as the cartel created new short issuance to matchup against persistent interest among speculators to get long. June 7, 2019 july 3, 2019 chris interviews, silver manipulation, silver price, wall street for years theres been debate and confusion as to whether the silver market is being manipulated. You are among the few gold analysts who have been warning about a manipulation in the gold and silver markets for a long time now, can you explain how it operates specifically in the comexlbma. Price of gold this chart goes from jan 2008 to last fridays cot report. Ive been fascinated by the subject, and recently started doing a book on the topic called the big silver short. Econ 101 silver market manipulation by turd ferguson tfmetals report. A respectable number of americans hold investments in gold and silver in one form or another. A friend and longtime subscriber who intends to write a book about the silver manipulation asked if i could provide him with a bit of history. Since there is no obvious explanation why just 4 and 8 large traders would be more heavily short silver than in any other commodity, away from seeking to cap and control prices, the most plausible conclusion is that they. It may be responsible for some shortterm aberrations in. Gold prices surged 4% last thursday june 19 and silver by 5% in the single largest oneday price rally in months.
To my mind, the silver manipulation dates back to early 1983, when the commercial traders grew confident that they could sell any quantity of paper short contracts to the technical fund buyers on the comex. This sort of manipulation exists in financial markets as traders try to influence the markets. The mechanics of silver manipulation by former nymex trader. The total size of the silver producer hedge book is historically low, as youd expect with. Apr 29, 2017 this month, comex silver open interest rocketed past 230,000 contracts as the cartel created new short issuance to matchup against persistent interest among speculators to get long. On friday, i watched one of the most heinous combinations of ppt support and cartel suppression ever, and consequently was inspired to write the third installment of comex gold manipulation pictorial this weekend, a 70page opus depicting the minute detail of gold suppression operations from september 6th, 2011 the commencement of. Register here to apply unlimited indicators 42 available, save chart preferences, show comparison against any symbol, view logarithmic price scales, and have the. Gold and silver manipulation book rigged interview with the author stuart englert. Interactive chart comex warehouses registered silver. So youd think that would mean they are pretty bearish on silver yeah. The list of allegations and the mounting evidence is too long and complex for this general overveiw. Books have been written about gold and silver manipulation for decades. Jpmorgan chase on wednesday won the dismissal of three private antitrust lawsuits, including from hedge fund manager daniel shak.
The difficulttoexplain price disparities between the current market price and the estimated prices based on money supply and physical aboveground stockpile dynamics suggests and add substantial weight to the allegations that the precious metals markets such as silver which is controlled through centralised commodity exchanges such as the comex as part of the cme. Jul 04, 2016 the mechanics of silver manipulation by former nymex trader. Comex silver price, chart, information, and history. Silvers price manipulation, the why, the how, the when.
Butler states that jpmorgan acquiring silver in its own name from a customer suggests a strong conflict of interest and, quite literally, stinks to high heaven. Comex silver holdings are decreasing as shanghai bullion exchange holdings increase, which is the hole in the ships hull. I am robert kientz, the editor and publisher of gold silver. Below is the daily changes in gold open interest oi on the comex up to and. The name comex was short for commodity exchange, inc. Mar 05, 2015 mind the mechanics of the silver manipulation described above, in particular from jp morgan.
But because the manipulation in silver is of the rare downside variety, the price of silver is artificially low, thereby guaranteeing eventual profits for those taking advantage of the opportunity. Shanghai to london to be closed then concentrated their dealing on comex. Comex silver futures contract trading manipulation allegations 2000s 2010s below is a short look at some more modern comex silver trading allegations which remain in effect today. Why does the justice department throw traders under the bus and go along with the charade that senior management saw, heard, and knew nothing. It may be responsible for some shortterm aberrations in asset prices, including the price of silver.
Whether it be contracts on the comex or derivatives, curious to your thoughts. If my reasoning is correct, this could be a very significant development in the ongoing silver and gold price manipulation on the comex. Since 2003, has provided silver investors with the latest silver market news and information. Consisting of interviews with 15 of the worlds top silver experts, the big silver short reveals stunning insider information about what wall street is trying its best to keep hidden from you. In this interview with jesse, we discuss the issues at the very centre of the gold market today. Therefore, from the longterm perspective, and especially looking at the 2000s, it is hard to understand the accusation of manipulation in the silver market.
Dec 02, 2015 the comex is a grotesque comic book december 2, 2015 financial markets, gold, market manipulation, precious metals, u. January 18, 2011 total comex silver open interest 5,675 contracts. Thank you for the compliment, but i am hardly the primary one and certainly not the first. Comex is one of the most wellknown and recognized exchanges for the trading of metals such as gold, silver, copper and aluminum. How silver is being manipulated is affecting silver prices. The red line is the price of gold right axis and the black line is the net short interest left axis of the commercial segment on the comex. The comex has since gained prominence as the primary clearing house for trading gold, silver, and copper futures. Those countering the manipulation theory contend it is completely normal to have a paper hedge against such a big physical holding. Our premium subscriber digest and podcast emphasize longterm, cycle investing in the precious metals markets. History will also show that a 26 bank net short position of 37,647 contracts in comex silver is about the historical average. Supply and demand in comex digital gold gold eagle. At first glance, this theory makes sense, especially that the silver market is much smaller than the gold market, so it is easier to influence it. Clint siegner is a director at money metals exchange, a precious metals dealer recently named best in the usa by an independent global ratings group. Silver bull and bear markets from april 1968 to january 2016, london pm fix.
What this leaves is a market where both the supply of the product the comex silver futures contract and the demand for the product fluctuate on a daily basis. Because the price control of the comex is continuous, if silver prices are manipulated, as i allege, the manipulation is in effect whether prices are falling or rising. The combination of the short concentration to suppress the silver price with the physical delivery through comex silver is not described by other analysts. A graduate of linfield college in oregon, siegner puts his experience in business management along with his passion for personal liberty, limited government, and honest money into the development of money metals brand and reach. Aug 25, 2018 jp morgans impressive feat was to inconspicuously corner the physical silver market while artificially managing a decline in the comex paper market. But the comex silver short position is held by very few traders and it is that concentration that equals price manipulation. Three jpmorgan metals traders charged with market manipulation. Also that jpm made billions of dollars in shorting comex silver futures cumulatively since march 2008. Settlement prices on instruments without open interest or volume are provided for web users only and are. The comex silver fraud has lasted for more than 30 years, as the banks that are part of this derivatives exchange author their own story of modern silver price manipulation. The comex exchange was founded in new york in 1933. The comex is a grotesque comic book investment research. In 1980 the us government held 3b oz of silver and in order to maintain the lower silver price levels they sold the entire stock of silver into the market over the next 25 years. For decades now, both the gold and silver markets have been awash with allegations of systematic price manipulation resulting in the severe suppression of the.
Jp morgan hold around 145m oz 4,510 tonne of physical silver in comex. I am also the author of the 2010 book, drop shadow. Monthly storage fee, if you have the silver or gold stored in a warehouse. Please understand that if the bulk of the comex silver short position was held by hundreds or thousands of separate traders, there would be no. Nov 24, 2017 but the comex silver short position is held by very few traders and it is that concentration that equals price manipulation. Jp morgan has cornered the silver market via manipulation. Silver manipulation is approaching extreme levels on the us silver market.
Comex silver futures commodities charts, quotes and news. The surest proof of the comex silver manipulation fraud is the refusal of the insiders to openly discuss it. Nov 28, 2011 on friday, i watched one of the most heinous combinations of ppt support and cartel suppression ever, and consequently was inspired to write the third installment of comex gold manipulation pictorial this weekend, a 70page opus depicting the minute detail of gold suppression operations from september 6th, 2011 the commencement of. Comex is the primary futures and options market for trading metals such as gold, silver, copper, and aluminum. Silver thursday was an event that occurred in the united states silver commodity markets on thursday, march 27, 1980, following the attempt by brothers nelson bunker hunt, william herbert hunt and lamar hunt to corner the silver market. Click around on the link provided above and youll find bank net short positions as high as 178,061 contracts in february of 2018 or 191,834 contracts in july of 2016. Nov 15, 2019 consisting of interviews with 15 of the worlds top silver experts, the big silver short reveals stunning insider information about what wall street is trying its best to keep hidden from you. Heres why the gold and silver futures market is like a. Late last year was the us department of justice busted a former jp morgan precious metal trader for commodity price market manipulation e. End comex gold and silver manipulation stock discussion. The 1933 formation of the commodity exchange brought together the national metal exchange, the rubber exchange of new york, the national raw silk exchange, and the new york hide exchange under a single trading roof. Andrew maguire is a british commodities trader and whistleblower.
Today london whistleblower and metals trader andrew maguire told king world news that the u. Jun 27, 2014 because the price control of the comex is continuous, if silver prices are manipulated, as i allege, the manipulation is in effect whether prices are falling or rising. Silver or argent the platta vulgar latin, argentum is a chemical element with symbol ag and atomic number equal to 47 47 protons and 47 electrons. Gold and silver manipulation book rigged interview with the. In 1994, the comex exchange merged with the new york mercantile exchange and became the division for metals. Here is why you want to help crash the big banks message 27297278 the kaiser code silver manipulation class action suit. In 1980 the us government held 3b oz of silver and in order to maintain the lower silver price levels they sold the. By cleverly manipulating markets with short futures positions while acquiring newly produced silver, jp morgan was able to quietly build its 500 million ounce stockpile. But why would an entity want to manipulate the price of silver or gold. Comexlbma manipulation, default event and how investors should react to the long correction in precious metals. Learning from silver price manipulation by jpmorgan. A very small minority speculate via the futures markets. The manipulation was ended when the cftc stopped all comex silver purchases and allowed only silver liquidation sales instantly driving the price down. Great frauds like the silver manipulation on the comex.
Silver manipulation reaching extreme levels silver doctors. Gold and silver manipulation book rigged interview. The undeniable manipulation of the silver market adams economics. For more see the following link to the cftc report. Comex bombshell most eligible vaulted gold has nothing to do with comex. Bart chilton on jp morgan and silver manipulation arcadia. In the past decade, it has helped jpmorgan conduct a scheme that has set them up to gain billions. Gold and silver manipulation book rigged interview with. Market manipulation archives page 84 of 116 sgt report. Market manipulation, also called price manipulation, can be defined broadly as a purposeful effort to control prices.
Feb 03, 2017 butler states that jpmorgan acquiring silver in its own name from a customer suggests a strong conflict of interest and, quite literally, stinks to high heaven. The total size of the silver producer hedge book is historically low, as youd expect with prices barely above. Some hold physical gold and silver bullion, while others opt for indirect ownership via etfs or other instruments. This includes live silver prices, charts, articles, indepth commentaries, silver stock updates, analysis and much more. Gold silver interviews manipulation comex central banks. Jan 16, 20 monthly storage fee, if you have the silver or gold stored in a warehouse. You are among the few gold analysts who have been warning about a manipulation in the gold and silver markets for a long time now, can you explain how it operates specifically in the comex lbma. Econ 101 silver market manipulation the daily coin. Jpmorgan chase on wednesday won the dismissal of three private antitrust lawsuits, including from.