Following a report that two Wall Street trade groups are trying to delay CFTC limits on speculation, described as “one of the financial industry’s highest-profile efforts to weaken 2010’s Dodd-Frank law,” Ted Butler writes that 3 1/2 years into its investigation of the silver market, “we have passed the point of the CFTC taking too long for deciding if the silver market has been manipulated in price.”
In his commentary, headlined “Enough is Enough,” Butler also provides background on the CFTC’s two previous investigations, noting that “the agency has spent most of the past decade investigating silver.” He calls on it to “act against the silver manipulation or fully explain why there is no manipulation. This silver investigation has taken so long that at some point blame moves from the manipulators to those responsible for ending it.” More from Butler on “The Three Elements of Manipulation.”
He concludes that “This is the last time I intend to ask that you write to the Commission or, more importantly, to your elected representatives. Simply ask your Congressman or Senator why such an important investigation should take so long. This investigation has taken so long that chances are that you might be writing to a different elected official than previously.”
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