CFTC declares no Silver Manipulation

After 5 years of the CFTC investigation into the seemingly obvious manipulation of the silver market by the big 4 bullion banks, J P Morgan in particular, they have declared everything to be OK… There seemed little attention given to the fact that this relatively small (compared to gold and certainly something like oil) market was essentially cornered on the short side by these banks, with JPM having a 30% short position.  So whilst the Hunt Brothers (Google it for a good read) were prosecuted for this, the rules seem a little different if you are a bullion bank and particularly if one of your major clients is the Government.