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Silver manipulation - the largest financial fraud in history

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Miro

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This is truly an amazing story ...

On March 23, 2010, GATA Director Adrian Douglas was contacted by a whistleblower by the name of Andrew Maguire. Maguire is a metals trader in London. He has been told first-hand by traders working for JPMorganChase that JPMorganChase manipulates the precious metals markets, and they have bragged to how they make money doing so.

In November 2009 Maguire contacted the CFTC enforcement division to report this criminal activity. He described in detail the way JPMorgan Chase signals to the market its intention to take down the precious metals. Traders recognize these signals and make money shorting the metals alongside JPM. Maguire explained how there are routine market manipulations at the time of option expiry, non-farm payroll data releases, and COMEX contract rollover, as well as ad-hoc events.

On February 3 Maguire gave two days' warning by e-mail to Eliud Ramirez, a senior investigator for the CFTC's Enforcement Division, that the precious metals would be attacked upon the release of the non-farm payroll data on February 5. On February 5, as market events played out exactly as predicted, further e-mails were sent to Ramirez while the manipulation was in progress.

It would not be possible to predict such a market move unless the market was manipulated.

... continue reading at http://www.gata.org/node/8466

More links below.

Andrew Maguire finally exposes systemic fraud by CFTC & JPMorgan
http://www.youtube.com/watch?v=yLxoeLqQMlw

Bill Murphy of GATA Reveals Whistle-Blower in Gold Price Suppression
http://www.youtube.com/watch?v=e9bU0r6JP4s

Andrew Maguire & Adrian Douglas interview (March 30th)
http://kingworldnews.com/kingworldn...10/3/30_Andrew_Maguire_&_Adrian_Douglass.html

GATA interview - Bill Murphy, Chris Powell and Adrian Douglas (March 31st)
http://kingworldnews.com/kingworldnews/Broadcast/Entries/2010/3/31_GATA.html

Manipulating Gold and Silver: A Criminal Naked Short Position that Could Wreck the Economy
http://www.deepcapture.com/manipula...-short-position-that-could-wreck-the-economy/
 
Yes , an interesting development. Would appear that no one with any clout is going to do anything about things at this stage though. It would shoot the value of the US dollar down, it being the flight to safety, could not have silver or gold take over that role. Anyway most of this is explained in the links.

Posted links on this in gold and silver threads but is worth its own thread; so good one Miro.
 
explod said:
Yes , an interesting development. Would appear that no one with any clout is going to do anything about things at this stage though. It would shoot the value of the US dollar down, it being the flight to safety, could not have silver or gold take over that role. Anyway most of this is explained in the links.

Posted links on this in gold and silver threads but is worth its own thread; so good one Miro.
Click to expand...

http://www.silverbearcafe.com/private/metals.html

Posted this in another thread but seems appropriate here as well.

http://www.rollingstone.com/politics/story/32906678/looting_main_street/print

Another interesting thread on JPM and a good read if nothing else, probably a little off topic.
 
Thanks for posting this,Miro...it seems to have escaped the notice of the Precious metal watchers and ,in fact, anyone who has interest in a Free Market

Not really "news" ,in the sense that many have been saying just this for years.Now we have an insider whistling the warning to us.Andrew Maguire has just opened the can..how many worms are there to crawl out??

A quote from another thread about trade with China.Smurf has it right in my opinion.

"Every example of a complex system failing (mostly engineering related but also financial) that I can think of involves a system that was pushed beyond its limits for a considerable period and then subjected to some sort of shock which triggered the actual failure.

The buffer that ought to have been built up when times were good wasn't there, it was consumed just to keep the game going. Then something happens that requires the buffer to be drawn down - and there's nothing to draw on, the cupboard's bare. Then you get a bad day / season / year and it spectacularly falls in heap.

When and due to what trigger is anyone's guess. But the system is clearly unsustainable in my opinion."

Relating this to Silver manipulation..perhaps it is just another symptom of the system breaking down?..through rorting of our so called free market.I take this very personally.I hold physical silver and look forward to a day when honest investment will be rewarded.....J P Morgan and their ilk are theives and PM manipulation a symptom of a diseased world economy :2twocents
 
Gents why don't you just all confess, not to us but for the sakes of your poor families and yourselves, for being in an instrument that has underperformed other things that you hate like bank shares and oil since your wet dream came true in 08 - yet the world didn't end. :(:D

If there was really a market for bits of metal to put in a safe and look at from time to time the physical would be selling for higher than paper. But its not.


:p:
 
T H..In this context you are a bottom feeder like the rest of us.

Why don't you look over the top of your screens and forget the PM versus Oil /bank interest crud?

Andrew Maguire had his car rammed ,injuring he and his wife...others have been sent clear warnings...JP Morgan and other insiders are ruthless people.The S*** will hit the fan one day...Will you still be making money then?
 
Boyou said:
The S*** will hit the fan one day...Will you still be making money then?
Click to expand...

LOL By the time your dreams come true and the world descends into what you guys hope to happen, I'll be retired on my farm with my veggie patch and stories of making money trading nothing but virtual paper.

You guys will be left to try and trade your bars for milk and bread. Will you be able to make money if your dreams come true? I think not. Make it now while you are given the best of times.

Come on, join in, be a bull, buy some bank shares. :p:
 
Trembling Hand said:
Gents why don't you just all confess, not to us but for the sakes of your poor families and yourselves, for being in an instrument that has underperformed other things that you hate like bank shares and oil since your wet dream came true in 08 - yet the world didn't end. :(:D

If there was really a market for bits of metal to put in a safe and look at from time to time the physical would be selling for higher than paper. But its not.


:p:
Click to expand...

Every dog will have its day t/h. Why do you bother.

But if you are interested, your take on Mcquire's testimony would be good.

Notice on another thread you speaking expertly on the Keynesian principles. That philosophy to me is the biggest ponzie of all. But before you go all red and try to squash people like flies on the window sill, I would invite you to look at the writings of the economist Von Misers and his writings of 1923 to 1946. You will learn the true value of gold as a store of wealth also.

Just think of Grandmas $1000 dollars in the bank since 1970, with interest it has probably doubled. If she had had the same in gold stored away, today it would be worth $20,000

Anyway, well worth you checking Austrian Economics T/H and getting yourself educated so as to protect yourself from when the music stops and you are not able to find a chair.

cheers explod
 
Boyou said:
Thanks for posting this,Miro...it seems to have escaped the notice of the Precious metal watchers and ,in fact, anyone who has interest in a Free Market
Click to expand...

Anyone with an interest in a Free Market (don't know why those words need to be capitalised, but there you go) doesn't go whingeing to the authorities when they get jammed by someone smarter than them.
 
At least the losers have someone else to add to the list of "Who To Blame":
Short Sellers, Goldmans, The Fed, The Gov'n'ment (though they are good to whinge to), JPM ... more coming.
 
Timmy said:
Anyone with an interest in a Free Market (don't know why those words need to be capitalised, but there you go) doesn't go whingeing to the authorities when they get jammed by someone smarter than them.
Click to expand...

Not a matter of being outsmarted,Timmy.

It comes down to being robbed ,by those in positions of privilege.I admire the smart ones,but detest the crooks.So should you.. :D
 
explod said:
Every dog will have its day t/h. Why do you bother.

But if you are interested, your take on Mcquire's testimony would be good.

Notice on another thread you speaking expertly on the Keynesian principles. That philosophy to me is the biggest ponzie of all. But before you go all red and try to squash people like flies on the window sill, I would invite you to look at the writings of the economist Von Misers and his writings of 1923 to 1946. You will learn the true value of gold as a store of wealth also.

Just think of Grandmas $1000 dollars in the bank since 1970, with interest it has probably doubled. If she had had the same in gold stored away, today it would be worth $20,000

Anyway, well worth you checking Austrian Economics T/H and getting yourself educated so as to protect yourself from when the music stops and you are not able to find a chair.

cheers explod
Click to expand...

What the Fark are you talking about??? "another thread you speaking expertly on the Keynesian principles".

I'm not talking about using money to put in bank savings account. If that's your only alternative to gold you're truly lost.

And thanks I'm well aware of Von Measly. Thats why I'm a bull. Funny though the last person that told me that was buying gold and saying that shares & other usable commods where worthless back in early 09. How completely wrong they have been in timing. Strange how a miss applied doctrine can lead you sitting on the sidelines missing out on the fun.
 
Boyou said:
the crooks
Click to expand...

Thank-you.
Another for the list of "Who To Blame":
Short Sellers, Goldmans, The Fed, The Gov'n'ment (though they are good to whinge to), JPM, Crooks ... & still more coming. :D




Sorry, Boyou, nothing personal.

Since markets began the big boys take out stops, its what they do ... it wont change ... we can whinge about it or learn ...
 
Trembling Hand said:
What the Fark are you talking about??? "another thread you speaking expertly on the Keynesian principles".

I'm not talking about using money to put in bank savings account. If that's your only alternative to gold you're truly lost.

And thanks I'm well aware of Von Measly. Thats why I'm a bull. Funny though the last person that told me that was buying gold and saying that shares & other usable commods where worthless back in early 09. How completely wrong they have been in timing. Strange how a miss applied doctrine can lead you sitting on the sidelines missing out on the fun.
Click to expand...

One does not have all eggs in one basket. I am not missing out on the market either. Well invested in energy stocks and doing well, and also saw the GFC coming on the charts and was out when it really hit the fan, but so what. But yes I keep some in savings ie. in physical prescious metals, and again "so what". And also some in a shopping centre trust that is about to mature wherein my wife and I have seen the asset go from $1 per unit to $4 a unit over 10 years and pay us 10% along the way. "So what"

Why are you so against some of us on ASF being diversified in things that you may consider wrong. If you do not like it just ignore our threads, as I have learnt to do to yours.

Within reasonalbe limits, we are all entitlted to our varying takes.

cheers explod
 
explod said:
Why are you so against some of us on ASF being diversified in things that you may consider wrong. If you do not like it just ignore our threads, as I have learnt to do to yours.
Click to expand...

explod most of us are grown up enough to admit that,

Timmy said:
Since markets began the big boys take out stops, its what they do ... it wont change ... we can whinge about it or learn ...
Click to expand...
Some just think its unfair & robbery when what they buy doesn't go up 200% in 1 year. I find that entertaining. :p:

By the way please point out where I was talking "expertly on the Keynesian principles". Or is this yet again another one of your made up "facts" that you litter this place with?
 
Trembling Hand said:
,
explod most of us are grown up enough to admit that
Click to expand...

I took what you said as an inference that you thought I was missing out on the climbing market somehow.

By the way please point out where I was talking "expertly on the Keynesian principles". Or is this yet again another one of your made up "facts" that you litter this place with?
Click to expand...

May have been Tech/a, suffer a bit of dislexia in my old age and mix you into one sometimes, you are the big boys. Can't find the quote now so apologies if I was wrong on that score.
Click to expand...
 
TH is not interested in economics but purely just to make cash. Thats great, make millions and perhaps billions even from a shonky system but then what? make more money? but then what? make more again? what about the millions of people that are not as savvy as you are TH? is paying $10 for milk in 10yrs your kinda future for your kids? or you wont have any kids so you dont care??

Im not saying you need to care about the ****ty system we run off, and i know your only interested in making cash but just expand your mind a tad and look at the bigger picture.
 
explod said:
Every dog will have its day t/h. Why do you bother.

But if you are interested, your take on Mcquire's testimony would be good.

Notice on another thread you speaking expertly on the Keynesian principles. That philosophy to me is the biggest ponzie of all. But before you go all red and try to squash people like flies on the window sill, I would invite you to look at the writings of the economist Von Misers and his writings of 1923 to 1946. You will learn the true value of gold as a store of wealth also.

Just think of Grandmas $1000 dollars in the bank since 1970, with interest it has probably doubled. If she had had the same in gold stored away, today it would be worth $20,000

Anyway, well worth you checking Austrian Economics T/H and getting yourself educated so as to protect yourself from when the music stops and you are not able to find a chair.

cheers explod
Click to expand...

lol

and when grandma wants to actually check and see if the gold is actually held in a vault as promised.. she finds its not there as globally the vaults are empty

if ever there was a run on gold and silver, then say goodnight to your investment.. unless you physically have it in hand you have got jack...
 
Ageo said:
TH is not interested in economics but purely just to make cash.
Click to expand...
Not true. In fact probably the opposite. I spend every day from 7am till midnight thinking about it.

Ageo said:
what about the millions of people that are not as savvy as you are TH? is paying $10 for milk in 10yrs your kinda future for your kids?
Click to expand...

EXACTLY. Thats why the shorters/speculators are doing a great service to today's wage earner and future generations. In any product stocks, futs & PM. Shorters limit price, maybe, or make sure something stays closer to real value. What the gold bugs are wanting is financial armageddon just for their own benefit. You cannot dispute it. Fark the rest. They want the system to collapse? Then what?

Don't give me the righteous BS. If gold goes to $5000 people will starve. Then what??

I don't like the system of funny money spent today just to keep the pollies looking good for the next poll but I don't want to see the major currencies becoming worthless and all that will follow.

Ageo said:
Im not saying you need to care about the ****ty system we run off, and i know your only interested in making cash but just expand your mind a tad and look at the bigger picture.
Click to expand...

LOL. Gold bugs have the monopoly on big thinking do they?
 
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