The Farce Is Complete: Blythe Masters Joining CFTC

Zero Hedge ^ | 2-6-14 | Tyler Durden

[CincyRichieRich]

We thought today's newsflow and "market action" ranked pretty high on the absurd surrealism scale. And then we saw this.

BLYTHE MASTERS TO JOIN CFTC GLOBAL MARKETS COMMITTEE JPMORGAN’S BLYTHE MASTERS TO JOIN CFTC ADVISORY COMMITTEE CFTC SPOKESMAN COMMENTS ON BLYTHE MASTERS JOINING COMMITTEE

That's right - you read it correct: "Blythe Masters, head of JPMorgan Chase & Co.’s commodities division, is joining an advisory committee of the U.S. Commodity Futures Trading Commission, said Steve Adamske, a spokesman for the regulator. Masters, 44, was invited by acting Chairman Mark Wetjen to sit on a global markets committee at the Washington-based regulator of futures and swaps, according to a person with knowledge of the matter. Masters is scheduled to participate in a CFTC meeting on Feb. 12 to discuss cross-border guidance on rules, the person said."

Ok - ignore, if you will, all alegations about Blythe Masters "interventions" in the precious metals markets.

But don't ignore Blythe's CNBC interview in which the soon to be former JPMorganite said, days before the London Whale fiasco was exposed and so were JPM's attempts to corner the bond market, that JPM has "offsetting positions. We have no stake in whether prices rise or decline. Rather we're running a flat or relatively flat matched book" - a statement that was a bold faced lie, and was followed up with "what is commonly out there is that JPMorgan is manipulating the metals market. It's not part of our business model. it would be wrong and we don't do it."

No, Blythe had much greater manipulative ambitions, namely becoming the next Enron, which we learned after than the FERC fined JPMorgan - and the group ran by Blythe Masters - for manipulating electricity prices in California and other states.

[CincyRichieRich]

Ok, for those who track this stuff, or may be wanting to buy physical gold (AU), AU is of course heavily manipulated...by, say, Morgan Stanley, by shorting at hyper-speed...they aren't the only party manipulating and in cahoots with the CFTC, COMEX, and the Fed, but, it is just peachy keen that one of the big wigs at MS is now joining the CFTC...the fox(y) has been hired to oversee the AU hen house. I love Glen Beck, but, but, but, I wonder how the Goldlines of the world view this development. We won't see $1300 anytime soon, in fact, during this regime, we certainly won't see anywhere near there until after his regime ends...if it does. Yellen may not need to move many decimal places...this CFTC plant may just help out behind the scenes.

Wake up, Amerika!

[lbryce]

Oh, by the way; how’s Joe Corzine doing these days? In a parallel universe he’d be holed up somewhere passing the time chalking up the lines on the wall of some dank, dingy cell.

[nascarnation]

Less guilty than I anticipated:

Is she dating Bill Clinton?

[CPT Clay]

OMG

[Ken522]

At least she’s got good teeth ....

[RetiredTexasVet]

What, wasn’t Corzine available?

[reed13k]

wasn’t JPM the one that had news about their silver holdings just come out?

[Only1choice____Freedom]

Didn’t JPM have a “Suicide” of a major executive lately?

Along with a couple of other large “too big to fail” banks?

There is something going on here but the facts will not be known until it is too late.

[Therapsid]

Can control metals
Cant control dozens of e-currencies.
Sfer to let the metal run .

IMO