Åtminstone ett silverbolag (First Majestic) som vågar ifrågasätta COMEX.

[mega_n]

Efter Ted Butlers upprop för att få silverproducenter att ifrågasätta COMEX för att få uppmärksamhet.

http://www.gata.org/files/FirstMajesticLetterCFTC-06-01-2015.pdf

/H

[jerseph]

Kommer inte hända någonting precis som vanligt tyvärr. Men visst, ju fler som får upp ögonen för detta desto bättre antar jag

[AC-08]

Bra att någon säger emot men är nog ett brev som inte kommer förändra något 

[Asrael]

Ett brev kan förändra situationen på så sätt att ett annat bolag också säger ifrån. Därefter ännu ett och så vidare.

[kristensson]

Tycker det är modigt av First Majestic att våga gå ut så.

Flera myndigheter är inblandade i mineralbrytnings tillstånd för gruvbolagen, flera myndigheter kontrollerar att bolagen uppfyller kraven i tillstånden innefattande bla miljökrav.
Sedan står ofta bank konsortium bakom finansieringen, dessa är lyhörda för myndighets på tryckningar.
Att sedan gå ut och öppet kritisera en "myndighet" (Crimex) är beundransvärt.
Lite som att såga av den gren man sitter på.

Spännande se hur många som vågar följa efter.

[Asrael]

First Mexican Gold Corp blir det tredje företaget som skickar in klagomål till CFTC gällande silvermanipulation.

Hittar ingen länk så jag klipper in mailet

First Mexican Gold Corp
1000 – 355 Burrard Street
Vancouver, BC, V6C 2G8June 7, 2015

Mr. Massad
CFTC Chairman

tmassad@cftc.gov

Re: Silver Futures Contracts

Dear Chairman Massad,

The following has been brought to my attention:

The Commitments of Traders Report (COT) for May 19, 2015 indicates a record position change of more than 28,200 net contracts of COMEX silver futures being purchased by traders in the managed money category, the equivalent of 141 million ounces of silver and 61 days of world mine production. The COT report also indicates nearly 24,400 net contracts were sold by traders classified as commercials and the equivalent of 122 million ounces and 53 days of world mine production.

In addition, the report indicated that 8 traders in COMEX silver futures held a net short position of 376 million equivalent ounces of silver, by far the most of any commodity in terms of world production (163 days). With silver prices at current low levels, it is puzzling why the concentrated short position would be so large.

Since the Commission classifies traders in the managed money category as speculators (as opposed to hedgers) and because there is little evidence from public financial reports that silver producers are represented in the commercial category, it appears the big changes in positions on the COMEX are by speculators and commercials acting as speculators and not by those engaged in bona fide hedging.

It occurs to me that such massive speculation in COMEX silver futures may not be in keeping with the spirit and intent of commodity law and may suggest something is wrong with the price discovery process, since real producers and consumers of silver don’t appear to be represented.

Please address these issues in light of the current depressed price of silver and the questionable futures contracts.

The lack of oversight by the CFTC and total disregard by the CME is severely jeopardizing the future of precious metal companies’ ability to sell their product at legitimate and sustainable prices as a result of what appears to be manipulative falsely classified commercial entities that operate in a world of their own with no legitimate positon limit restrictions. Shareholders of these companies are being severely harmed as a result of unfair price actions totally unrelated to supply and demand or actual legitimate commercial objectives.

I look forward to hearing from you.

Sincerely,

Gregory Roberts
Chairman, Director
First Mexican Gold Corp

[kristensson]

Har missat att det är tre nu, vilket var det andra?

Hoppas nu fler vågar följa efter

[Asrael]

Gold Resource var det andra, eller egentligen det första då datumet på brevet är före det First Majestic Silver skrev. Brevet från First Majestic Silver var dock det första som fick genomslag då GATA tog upp det och det är en så pass stor producent.

To Timothy Massad

Chairman, CFTC

May 28.2015:

The following has been brought to my attention:

The Commitments of Traders Report (COT) for May 19, 2015 indicates a record position change of more than 28,200 net contracts of COMEX silver futures being purchased by traders in the managed money category, the equivalent of 141 million ounces of silver and 61 days of world mine production. The COT report also indicates nearly 24,400 net contracts were sold by traders classified as commercials and the equivalent of 122 million ounces and 53 days of world mine production.

In addition, the report indicated that 8 traders in COMEX silver futures held a net short position of 376 million equivalent ounces of silver, by far the most of any commodity in terms of world production (163 days). With silver prices at current low levels, it is puzzling why the concentrated short position would be so large.

Since the Commission classifies traders in the managed money category as speculators (as opposed to hedgers) and because there is little evidence from public financial reports that silver producers are represented in the commercial category, it appears the big changes in positions on the COMEX are by speculators and commercials acting as speculators and not by those engaged in bona fide hedging.

It occurs to me that such massive speculation in COMEX silver futures may not be in keeping with the spirit and intent of commodity law and may suggest something is wrong with the price discovery process, since real producers and consumers of silver don’t appear to be represented.

Please address these issues in light of the current depressed price of silver and the questionable futures contracts.

I look forward to hearing from you.

Sincerely,

Jason Reid
CEO / President

[Asrael]

Keith Neumeyer, First Majestic, har intressanta saker att berätta om manipulationen i ädelmetaller och gruvbolagaktier.

https://www.youtube.com/watch?v=0GVd7m7Gw5w&feature=youtu.be