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Goldman, GETCO & Ken Griffin Tighten their Vulcan Death Grip on Gold Futures
GATA
must be gulping hard as Goldman, GETCO, Citadel, MS, UBS & DRW
announce the purchase of minority stakes in NYSE Liffe U.S., which
administers 100 oz. gold futures, 5,000 oz. silver futures, options on
gold and silver futures, and mini-sized 33.2 oz. gold and 1,000 oz.
silver futures. The long-suspected ringleader of silver futures short-sided shenanigans, JPM, was conspicuously absent from today's NYSE press release.
NYSE Liffe U.S. Completes Sale of Ownership Stake to Leading Market Participants
-Reinforces Commitment to Competition, Innovation and Customer Service-
-Semi-Mutualized Exchange Structure Now with Six Partners in Total-
New
York, March 10, 2009 – NYSE Euronext (NYX) today announced that it sold
a significant minority ownership stake in its U.S. futures exchange,
NYSE Liffe U.S., to six leading firms and liquidity providers: Citadel
Securities, DRW Ventures LLC (an affiliate of DRW Trading Group),
GETCO, Goldman Sachs, Morgan Stanley, and UBS. NYSE Euronext will
continue to be the largest shareholder in NYSE Liffe U.S., managing the
exchange’s daily operations. NYSE Liffe U.S. will continue to operate
under the supervision of a separate Board of Directors, chaired by
James J. McNulty, former CEO of the Chicago Mercantile Exchange."With the completion of this transaction, NYSE Liffe U.S. is well
positioned to deliver innovation, competition and value to the U.S.
derivatives marketplace," said Duncan L. Niederauer, Chief Executive
Officer, NYSE Euronext. "We are committed to building a diverse,
customer-driven U.S. futures exchange, and are confident that
partnering with our clients is the right strategy for success.""The NYSE Liffe U.S. partnership includes some of the most
sophisticated and forward-thinking participants in today’s global
markets," said Thomas F. Callahan, Chief Executive Officer, NYSE Liffe
U.S. "The addition of a world-class partner like DRW to this group will
only accelerate our efforts to deliver a vibrant, liquid U.S. futures
exchange.""Citadel Securities is committed to innovation as a means to promote
open, fair and transparent markets. NYSE Euronext shares these
principles and we welcome the opportunity to become a founding partner
in this innovative new exchange," said Patrik Edsparr, Global CEO of
Citadel Securities.Don Wilson, Founder and CEO of DRW Trading Group added, "DRW’s
partnership with NYSE Liffe U.S. is an exciting opportunity to
influence the evolution of the futures industry in this time of
unprecedented regulatory change.""GETCO has a long-standing tradition of supporting competition and
efficiency across the spectrum of global capital markets. We look
forward to working with NYSE Euronext to build a world class U.S.
futures exchange," said Dave Babulak, Managing Director of GETCO.Reinhardt Olsen, North American Head of Exchange Traded Derivatives of
UBS said, "In closing this agreement with NYSE Euronext, UBS clearly
shows our dedication to expanding our leadership presence in the listed
derivatives marketplace and our commitment to delivering more trading
options and better value to our customers."NYSE Liffe U.S. is a fully electronic, liquid market for 100 oz. gold
futures, 5,000 oz. silver futures, options on gold and silver futures,
and mini-sized 33.2 oz. gold and 1,000 oz. silver futures as well as
equity index futures based on MSCI Emerging Markets, MSCI EAFE, and
MSCI USA indices. NYSE Liffe U.S. has plans to further expand into
futures on other asset classes, including U.S. interest rate products.The Options Clearing Corporation (OCC) acts as clearing house for NYSE
Liffe U.S. futures on precious metals, MSCI index futures, as well as
all ETF options and index options trading on NYSE Arca, creating the
opportunity for unique margin efficiencies for NYSE Euronext customers.
NYSE Liffe U.S. intends to clear its U.S. interest rate futures at New
York Portfolio Clearing, its innovative joint venture with DTCC
designed to offer significant transparency and capital relief to major
market participants by offering ‘single pot’ margining of cash bonds
and interest rate derivatives, subject to regulatory approvals.
While
NYSE Liffe U.S. will continue to operate under the supervision of a
separate BoD, chaired by James J. McNulty, GATA might wanna hire Det. Jimmy McNulty from The Wire to search for all the dead bodies hidden within the crooked gold and silver futures markets. Avon Barksdale, Marlo and Omar
themselves would each be proud of this gold-cabal's ability to hide the
monstrous carnage that lays in its wake; the remnant souls of fallen
soldiers soil the soles of this cabal like broken vials beneath Bubbles' shoes. David Simon himself couldn't write a seedier script of flagrant fraud and regulatory remiss.
Gold Futures (GC) ~ Daily
Silver Futures (SI) ~ Daily
" This game is rigged, man "
" We fight on that lie "
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I luv the part with the occ clearing services. How innovative,Gee probably just like the DTCC with no audit and noone oversite with any jurisdiction. How original, Looks like Naked Gold to me.
Why is it that everybody here can't see that gold has been making lower highs and lower lows?
There's no manipulation. Elves in Antarctica aren't holding the price down. Gold went up too far too fast, and now it's coming back down. That's all.
It's overvalued, and now it's making lower highs and lower lows, indicative of a downtrend.
Apparently you can't read a tape. That alone is revealing, but there's a huge pile of other information you are totally ignoring to make a statement like that.
Lol. HAhahahahahahahahahah Thank you Master Bates for your wisdom Lol
This is bad news, but very interesting news. Jumping off of the sinking ship and into, thats right, PMs! Where is that big money! Big money, big money!!!!
Speaking of Long Physical,
I remember back in 2005 reading an article that JPMorgan was purchasing a million OZ/gold a month and taking delivery.
*CHESHIRE CAT*
Fort Knox is the hedge fund arm of the the Federal Reserve. Highly guarded with NSA comp/sci/algo freaks gaming us.
They just want to be around to control the tungsten coated Gold that they have flooded the market with.
Goldman needs to be closed down. Guess it wont happen until the people revolt.
Think the Rothchilds abruptly abdicated London due to what they knew would be revealed in the not too distant future regarding tungsten found in gold bars? Remember, that after about 120 years they packed up and left? Ya think they knew this tungsten exposure was coming and they wanted o u t ? We have a long way to go as far as this scandal goes, there may be millions of bars filled with tungsten in Ft. Knox, China, ETF GLD, and ... GATA probably knows pretty surely where else.
I dunno - I think the launch of GLD and the derivitive insanity might have had something to do with it. Why should large holders of physical have to deal with large holders of nothing but a paper bag of irredeemable promises?
I watched all five seasons of "The Wire" while recovering from knee surgery. More addictive than Baltimore crack. I believe the analogy you are looking for is "Wall Street=Hamsterdam" with Obama as Bunny Colvin.
member of Congress, told of the unnamed Treasury official's comment, asked not to be named and said that Geithner, a former Fed president, should recuse himself from Fed audit legislation discussions, given that the audit would cover his own actions during the crisis.
And Rep. Grayson said he finds Treasury's opposition to the audit troubling. "There is a growing feeling on the part of real Democrats that the president is getting bad advice from people who have sold out to Wall Street," said Grayson. "And opposing a measure that passed overwhelmingly in the House with bipartisan support at the [Financial Services] Committee level, based up on legislation that now has 317 cosponsors in the House, shows that the president may be getting bad advice."
The idea that the Fed's mission would be undermined by an audit, said Grayson, "is a scarecrow erected by people who want to cover up the actions of the Fed for their own purposes, including those who actually have worked at part of the Fed, to prevent accountability at any cost."
Geithner served as president of the New York Fed during the financial crisis.
"It's interesting that the Fed regards the simple fact that people find out what it does as somehow being unduly restrictive. We are a government of laws, not of men," said Grayson.
"It's certainly no surprise that banking insiders at Treasury don't want transparency at the Fed," said Jesse Benton, a spokesman for Rep. Paul. "They are wrapped up in the central bank shenanagins too, and do not want their wheelings and dealings out in the open any more than Alan Greenspan or Ben Bernanke,"
Great post. Grayson, a "real" democrat, is awesome. So is Paul, who never expected to get 317 in support.
And the barbaric metal haters have been short the stuff since $250. Do ya think they're losing?
This is a titanic battle, all appearances of dollar divinity are fading in this very slow motion train wreck.
The CFTC should be tryed at the Hague for their outright collusion to hide this FRAUD and ABUSE from the world!!
How does the CFTC get away with being so damned CORRUPT??
I like my gold and silver to make a sound when dropped from three feet..........paper...I'am still waiting.
"-Semi-Mutualized Exchange Structure Now with Six Partners in Crime Total-"
"-Reinforces Commitment to Competition, Innovation and Manipulation-"
electronic futures?
does that mean electronic gold or will they just go to the discount window for delivery?
Did not even read the article or the comments just headlines and a mini scroll; I GOT TOASTED today, a two day inverse head and shoulders as clear as daylight, could not go wrong...but u know what? tomorrow will be buying the equivalent in...Phisical, Physical, (gotta check that spelling) I want to get phisical yeah, let me hear u shit u're pants GS, let me here u shit u're pants yeah...
I trust that sums the article up? on a limb here but thats what I am gonna do yeah!!!
Thanks for the confirming my suspicions
PS. Looking forward to reading the article and in particular the comments
PPS. only imbeciles like me believe in a sure thing, stop losses are cleared out before a big move, I recognised that, but yet from now on they are my 5th best friend after my wife and sons.
are you trying to short this market???
Seriously...mofo's cost me my 60" LCD for the world cup,
check thoses charts over 48hrs, the mother of inverse H&S's and we were well on the way up to 1135+++ with China's "oh, just browsing!" mode...EU's suddenly fixed by a phone call to the Alien Mr.OhOh.Ob.???
mofo's have taken the fun out of it, now its personal!
Good news is that they are seriously scapping the barrel, sure sign of imminent death... humm perhaps I'll get a projector instead.
IMF sold today, that's all.
I am going to snort this market!
Use BS' straw, it's a really big!
Silver will be $17.68 by the end of the day tomorrow - a freak show of a spike it will be.
SLV closed at $16.66. Go figure.
+1
'Tis the crooked croupiers who are drunk, and believe they are invincible. Their grip will turn to grief. Wait and watch.
The system needs to break. What is going to turn the tables on these self-appointed Vulcans, these Goldman gods of precious metals, is the citizens of the United States who are paying the bills, doing the suffering. The suffering need to stop their suffering and take these people out of the government.
They like to have a part in the bull market of precious metals.
Is that a bearish sign for gold ?
I guess not.
Otherwise why would they go in otherwise.
More volatility will await us, but that was on the map anyway.
They're going in to be better able to manipulate the price
Few understand that hyperinflation is a currency event, not an economic event.
After China decidedly and without any doubt said along with India that they will bid for IMF gold, Reuters published an article to the contrary so the sheeple went contrary.
When I read the articles of the new gold experts I want to yak. Gold is going to $1650 and quite possibly $5000. Asia will take it there without your help and over the dead bodies of shorts. sinclair
actually these guys left the peso and went back to the dollar when they dropped it down a well... so they could be getting their shit in place for when it is time to drop the dollar... why cant they front run when they take the leash off of gold/silver??
"It's all in the game, yo. All in the game"
http://www.youtube.com/watch?v=cryMVK1PwuQ
Relax & have patience: if they don't get economic growth - real or imagined - soon, the wheels WILL fall off.
Inmates running the asylum. Classic!
wow this is a pretty echoey room!
jeffrey bezos #43 forbes list 12.3B
THF remember his 60 minute show or something 15 years ago i drive a falcon and live with my parents.
OZ come out from under that curtain.
fuck you again i know your going to just remove this heading. clever
phuck you
phuck all of you!
YOU could be great, come on tyler, just do it. progress, take a step up. who cares if you take that sack off your face. we need you to take the next step up. do something like max keiser report. i have some capital.
sooo i roam the internet i am checkin out comment venue's offered to us lame beings. you have a very good system. very user friendly you have that going for you. but i still think you could capitalize on your format.
Third-world market much?
Sheesh....
Bill Murphy must be hitting the bottle by now.
More "Surreptitious Manipulation".....
LOL...
"Uggghhhh....Man, I need a huge drink. I should have invested in REITs and retail stocks instead of these miserable gold stocks....."
They can require all the big players to make statements swearing gold and silver are no good. But the fact remains that the US dollar reserve currency regime is falling apart, tumbling like the humpty-dumpty construct that it is. And the status quo is shitting their collective pants about it, and the likely backlash from an outraged public when their deceptions are exposed.
http://jessescrossroadscafe.blogspot.com/2010/03
/propaganda-campaign-attempts-to-mask.html
RobotTrader you are wrong about Bill ,I reckon he is more of a Jameson man - that wild turkey is only useful as a paint striper.
Come on now Dork, bourbon is the one good thing America makes. The crazy bird is not that bad, though I prefer Woodford Reserve, and I'd definitely take Wild Turkey over any Irish whiskey. But I understand you're supporting your homie being from Cork and all. Cheers!
Yes when Goldman takes over the world I can imagine a future where the only manufacturing left in both Ireland and the USA will be distilling and brewing - Goldman may allow a simplified trading system perhaps based on barter where we can trade Irish whiskey for Bourbon etc etc - but they would probably get greedy and attempt to take a cut from the whiskey swap , then only then will the populace realise that our masters have gone too far.
I've recently discovered William Lawson's scotch which is unbelievably good for its price.
Bangs for your buck -"As you get it" full cask strength scotch whiskey is the best - Islay and Highland varieties - 60% alc 100prof
Guaranteed rocket fuel with a refined real taste of the highlands - perfect for the depressionary storm about to hit.
Problem is that I can only find the stuff in the West Coast of Scotland.