Fantasticly-Bullish Silver-Price Indicator: CFTC’s Latest Defense Document Denying Manipulation (After the Last 2004 Denial Price Jumped from May Low of $5.50/oz to December High of $8.00 & Never Looked Back!)

My 2-Bits: Things are just getting rosier and rosier for silver’s future. Now the CFTC has gifted us with another official denial of the obvious. This has been easily debunked by Jason Hommel, Ted Butler and others. In fact, silver had just registered an annual low of $5.50/oz when CFTC’s Michael Gorham issued the last denial in May 2004. (BTW, one month later he resigned after only two years with the CFTC, which may be why no one wants their name on this latest CFTC farce. Gorham still sits on boards at the CBOE and NCDEX, a commodity futures exchange in Mumbai, India.)

Silver never saw $5.50 again. By the end of the year it had registered a high of $8.04 (up 45%), and now it’s over 300% above that figure. 300% return in four years–beats the heck out of paper/monopoly money’s 5% per annum at your local fiat bank/ponzi shop. Not too shabby. Thanks CFTC, for helping to cement silver’s recent ~$16.50/oz price as another now-or-never chance for the average joe to rescue his hard-earned savings.

BTW, Jason, who professes to not be a fan of charts, has recently published two doozies (click on the chart below to get the background article). To better understand the difference between the U.S. Government’s official inflation (CPI) versus, IMO, real inflation (SGS) check out John Williams’ excellent website ShadowStats.com. Enjoy!