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Whistleblower Maguire - Silver Manipulation Still Ongoing
On the heels of the interview with CFTC Commissioner Bart Chilton, today King World News interviewed Silver Whistleblower Andrew Maguire. Yesterday Commissioner Chilton remarked to KWN, “I believe there has been repeated attempts to influence prices in the silver market. And there’s been fraudulent efforts to persuade and deviously control the price.” Maguire had this to say about Chilton and his comments, “Bart Chilton is a man of integrity and he’s calling it as he sees it. This is not a typical career bureaucrat when he makes a statement like that. He’s not looking for a parking space in a bullion bank down the road when he makes those kinds of remarks.”
© 2011 by King World News®. All Rights Reserved. This material may not be published, broadcast,
rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
November 5, 2011
Andrew Maguire continues:
“I hold Bart Chilton in very high regard and anyone who casts any doubt on his integrity is mistaken. Without Bart Chilton and Gary Gensler, without their efforts, there would have been no progress.
Chilton is simply voicing what myself and several other people have presented to the CFTC. I am the original whistleblower and I have stated that there is a hand of manipulation that’s active in the silver market. There is absolutely no doubt about that.
It’s obvious that I’ve been trying to bring this to the regulators attention for a long time and I’m very pleased that Bart Chilton has been quite vocal in expressing his concerns. There is no question that there is manipulation that goes on in the silver market and that it is still ongoing.”
On a separate topic Maguire had this to say, “Regarding the MF Global situation, I recall a recent CFTC public meeting. Present at the meeting were the CME’s Director and JP Morgan’s Thompson and they were vehemently opposing Gary Gensler’s request for additional staff to implement the Dodd Frank Act.
Now I recall Thompson, this is ludicrous, I recall Thompson saying something to the effect of, ‘Why do you need extra staffing when we (JP Morgan) already have 350 personnel working on Dodd Frank?’ Gensler put together the staff that he requested and he was blocked by the likes of the CME, JP Morgan and these guys who were lobbying against getting any extra staff.
I honestly believe that the MF Global disaster, along with all manner of other violations, would have been discovered in a much more timely manner if the CFTC would have had the extra staffing it requested.
Now it’s obvious that a self regulated organization like the CME has its own clients interests at heart and not the interests of the public. So I’m absolutely incensed that any dispersions have been put upon Gensler for any failure to discover the MF Global problem when they (the CME) were actively blocking his request for extra staff.
The CFTC has been facing an incredible headwind from the CME and their members to stop any form of progress on the Dodd Frank Act. This is yet another example of the power of the banking cartel and their constant abuse of power.”
© 2011 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
Eric King
