CFTC files charges for gold and silver fraud

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Bill Murphy is saying that news will be out before X-mas with regard to silver manipulation. a "bomb shell" story. I'm not holding my breath.. Heard that before

Hard to tell if Murphy was hinting that his buddy Bart Chilton & the CFTC has some timetable to take action / release news or if he is referring to one of the various JPM lawsuits bearing fruit. In any event, I'm with DSA - I'll believe it when I see it. I'm all "wolfed out".

Is this it???

...
According to the CFTC complaint, the defendants claim to sell physical metals, including gold, silver, platinum, palladium, and copper, to retail customers in retail commodity transactions. Under the defendants’ retail commodity transactions investment contract, customers allegedly make a down payment on certain quantities of physical metals, usually 25 percent of the total purchase price. Defendants allegedly claim to arrange loans for the balance of the purchase price, and advise customers that their physical metals will be stored in a secure depository.

The complaint further alleges that these statements were false, and that the defendants do not purchase any physical metals, arrange loans for their customers to purchase physical metals, or arrange for storage of physical metals for any customers participating in their retail commodity transactions. Instead, all the transactions are just paper transactions, according to the complaint. Defendants allegedly do not own or sell metals to customers; customers are charged storage and insurance fees on metals that do not exist; and are charged interest on loans, which are never made by the defendants.
...

http://www.cftc.gov/PressRoom/PressReleases/pr6447-12

While I'm glad that fraud is prosecuted, this is *far* from a "bombshell" or even related to the bigger issues.