What is mind-boggling to me is that no one in the MSM is touching this. It could portend fraud on such a massive level as to make the subprime thing look like a walk on the beach, mai-tai in hand...complete with paper umbrella.
It almost reminds me a bit of this goofy, unknown, blogger of about 15 years ago. Some asshat named Drudge or something (LOL) who, reported for months and months the president had gotten in hot water with some intern. MSM didn’t touch it. Mike Isakoff lost the biggest “scoop” of his career.
My mom, now nearly 80 years old, was a journalist when they called them “reporters.” These people didn’t learn their craft in journalism school; they learned it under a grizzled city desk editor. They chain smoked, lived on coffee and alcohol, hollered a lot, and their favorite word was DEADLINE! My mom busted the careers of a shitload of local pols who were on the take; yes, even in small towns they are on the take. And this was all in the age before cellphones and the internet.
I’m glad, in a way, that she is sorta “slipping.” Because she would never, ever, in a million years, understand the press as it operates today.
The gold and silver market are massively manipulated. Take a look at Gold funds. There is not enough actual gold in the world currently to cover the amount of money invested in the funds. The only real gold is the gold in your hands.
If we see this story get some traction, then I think we’ll find out pretty quickly whether the reporter didn’t simply confuse “complaint” with “investigation”.
When zerohedge wrote (*) on May 1 that the DoJ was “considering” an investigation, I snorted in a FR thread that the “money quote” — “The DOJ will carefully consider the issue you raise, and you can be assured that if we conclude that silver traders have engaged in anti-competitive conduct, we will take appropriate enforcement action.” — sounded like bureaucratic boilerplate.
This story should be fresh meat to business reporters fired up about accusations of market manipulation re Thursday’s stock market craziness. They LOVE to declare that they see a new pattern of behavior from as little as two events.