by: Tyler Durden
August, 5, 2012
In what may be the most amusing news of the day, according to the FT the CFTC will shortly drop its 4 year old investigation into silver manipulation, “after US regulators failed to find enough evidence to support a legal case, according to three people familiar with the situation.” How about evidence to support an “illegal” case? Of course, that this is happening after the recent discovery that the world’s most pervasive fixed income benchmark was manipulated for years, if not decades, can only be reason for laughter and wonder if the CFTC used the same assiduous diligence methods in pursuing the alleged perpetrators of precious metal manipulation as it did in letting the fraud at PFG slip through its fingers for two decades. We will probably never know, or at least not until an email mentioning bottles of Bollinger and silver price “fixing”, (or “banging the close” for that matter) in the same sentence inexplicably turns up and makes a complete mockery of the CFTC yet again.