First Majestic asks CFTC to investigate silver manipulation
By Peter Walden, News Editor
08 Jun 2015
There is continuous debate in the precious metals markets as to whether the gold and silver price are being manipulated, with many believing the world’s largest central banks are at the heart of the manipulation.
The mainstream media dismiss these accusations, however groups such as the Gold Anti-Trust Action Committee (GATA) have produced credible evidence to suggest otherwise. Central Banks certainly have a motive for keeping the prices suppressed as a runaway gold price would that signal the world’s monetary system is coming under pressure.
Silver is no longer a monetary metal so why would Central Banks want to stop the silver price rising? Perhaps a feeling that a rising silver price will influence the gold price is reason enough. The silver market is tiny which leaves it open to manipulation by the world’s largest institutions.
One of the world’s largest silver producers, First Majestic believes there is case to answer. Last week their Chairman Keith Neumeyer wrote to CFTC asking them to investigate possible market manipulation. Banks have already been found guilty for manipulating the interest, electricity and forex markets could gold and silver manipulation be the next big scandal?