Tuesday, May 11, 2010

Silver Prices Moving Higher As Silver Manipulation Awareness Rises

Silver and gold prices are rising as people become more aware of the silver and gold manipulation schemes long asserted by GATA and others like Ted Butler.

More information continues to surface regarding the silver manipulation scheme that has kept silver prices low for so long.  The probes are centering on whether or not JPMorgan, a top derivatives holder in precious metals acted improperly by shorting silver to keep its price artificially low.

According to this breaking New York Post Story, The Commodities Futures Trade Commission is looking into civil charges, and the Department of Justice's Antitrust Division is handling the criminal probe, according to sources, who did not wish to be identified due to the sensitive nature of the information.

In the last 5 days, the price of the silver ETF (SLV) has risen from $16.73 to its current price of $19.01 per share.  The ETF (SLV) is supposed to track the price of silver and is actually supposed to represent physiscal silver that has been purchased and is under the control of the fund itself.