JPM, HSBC Sued For Silver Market Manipulation, Reaping Billions In Illegal Profits

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Wed, 10/27/2010 - 19:12 | 681819 TheGreatPonzi
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As I said, those investors don't know who they are attacking. The case will be rejected by all courts on the US territory. Attacking the gold/silver cartel is attacking extremely powerful interests, including Rothschild's ones (

Wed, 10/27/2010 - 19:16 | 681835 malusDiaz
malusDiaz's picture

Who will be on the Front lines of war?


Support those brothers & sisters who are willing to fight against tyranny! 


Some day you WILL die.

Wed, 10/27/2010 - 19:28 | 681861 TheGreatPonzi
TheGreatPonzi's picture

I do support them, but don't forget that the whole US system is crooked, including the courts. If this complaint leads to JPM and HSBC conviction, then it would be fantastic. This case will be a test of the honesty of the US justice.

Wed, 10/27/2010 - 19:40 | 681894 Bob
Bob's picture

This particular action is a civil case, so there definitely won't be any criminal conviction.  We'll see about award or, more likely regardless of merits, a settlement between plaintiffs and banks.  

Wed, 10/27/2010 - 23:30 | 682356 DoChenRollingBearing
DoChenRollingBearing's picture

The thread hereby puts out an Urgent Message to Sr. VP at JPM JonNadler!

Jamie D must be up late tonight very worried, use that confidential phone number he gave you...

Told you not to fire Johnny Bravo!

Wed, 10/27/2010 - 20:36 | 682017 Rick64
Rick64's picture
Commodity Futures Trading Commission judge says colleague biased against complainants

Wed, 10/27/2010 - 21:58 | 682189 zaknick
zaknick's picture

Justice? What effing justice??  What a farce.


Rodney Stich

Drugging America: A Trojan Horse

Wed, 10/27/2010 - 19:26 | 681856 LoneStarHog
LoneStarHog's picture

I guess you didn't get the memo several YEARS ago (circa 2006) that The House of Rothschild is completely OUT of the precious metal's business.

Wed, 10/27/2010 - 19:32 | 681876 TheGreatPonzi
TheGreatPonzi's picture

Muhahahaha. Do you really believe that?

PS: Rothschild is not a company, it is a family. And even if this family doesn't intervene directly in the markets, it doesn't mean her interests have faded away.

Wed, 10/27/2010 - 19:57 | 681938 LoneStarHog
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They are known as The House of Rothschild.  Yes, they exited the market in 2006.  That is not to say that they own no physical metals.

Wed, 10/27/2010 - 23:50 | 682394 Rahm
Rahm's picture

April 14, 2004, but who's counting ;)


Thu, 10/28/2010 - 04:23 | 682693 Habspurg
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Lord Jacob Rothschild, 4th Baron Rothschild, is on the board of BullionVault.

Wed, 10/27/2010 - 20:43 | 682035 weinerdog43
weinerdog43's picture

Ha!  +1 for "The __________" movie reference.  Well done.

Wed, 10/27/2010 - 20:42 | 682036 breezer1
breezer1's picture

the rothschilds were buying gold according to a telegraph article several months ago.

Wed, 10/27/2010 - 21:52 | 682175 tallystick
tallystick's picture

Rothchild is long gold according to this CNBC interview.

Wed, 10/27/2010 - 20:52 | 682061 tmosley
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The key difference is that now they are long, rather than short.

Wed, 10/27/2010 - 23:17 | 682329 DoChenRollingBearing
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I am happy to walk in the footsteps of Giants as an owner of gold. ("FOFOA-speak")

Wed, 10/27/2010 - 20:00 | 681947 Arius
Arius's picture

if you noticed Rothchild got out of London pool in 2004...someone else got to hold the bag...but you know where this train is is NOT west doesnt matter what they tell you....

Wed, 10/27/2010 - 22:21 | 682222 High Plains Drifter
High Plains Drifter's picture

The question is , just who is holding the gold plated tungsten bars? Hmmm, that is the question. I bet we have a lot of them in Ft. Knox because we have been such good clients.

Wed, 10/27/2010 - 20:23 | 681975 Unlawful Justice
Unlawful Justice's picture

Nothings changed to make me think other wise.

There has to be some self-preservation motive to see any change.

Their all in this together, but i think there shit'n their pants.

Fear of truth/reality is an uncontrollable emotion.

Wed, 10/27/2010 - 20:40 | 682028 Nostradumbass
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It is not a spelling issue.

Wed, 10/27/2010 - 23:12 | 682320 Milestones
Milestones's picture

Correct!! Retired English teacher??      Milestones

Thu, 10/28/2010 - 02:30 | 682612 Al Gorerhythm
Al Gorerhythm's picture

No, just another witness to the end result of the public school system.

Thu, 10/28/2010 - 07:49 | 682811 ReeferMac
ReeferMac's picture


LOL! Sadly, you're right! I'm regularly amazed at the content spewed forth by those alleged to have successfully completed our educational system.

Wed, 10/27/2010 - 20:30 | 682002 Brutlstrudl
Brutlstrudl's picture

At days end, the silver has to be in the warehouse. case closed

Wed, 10/27/2010 - 20:42 | 682034 boooyaaaah
boooyaaaah's picture

If the precious metal market is manipulated ---- then gold bug pumpers --- are accomplices or accessories to the crime.

I wonder if the fed and the treasury are in cahoots with JPM ---- maybe they are going to teach the unwashed how the game of commodities is played



At law, an accomplice is a person who actively participates in the commission of a crime, even though they take no part in the actual criminal offense. For example, in a bank robbery, the person who points the gun at the teller and asks for the money is guilty of armed robbery. However, anyone else directly involved in the commission of the crime, such as the lookout or the getaway car driver, is an accomplice, even though in the absence of an underlying offense keeping a lookout or driving a car would not be an offense.

An accomplice differs from an accessory in that an accomplice is present at the actual crime, and could be prosecuted even if the main criminal (the principal) is not charged or convicted. An accessory is generally not present at the actual crime, and may be subject to lesser penalties than an accomplice or principal.

Wed, 10/27/2010 - 21:27 | 682125 chopper read
chopper read's picture


China now holds just a bit more than 1000 tonnes of gold in reserve and that the US holds just a bit more than 8100 tonnes, Meng said


Doubtless if the Yuan is to become an international currency like the dollar or the EUR, China has to get a huge gold reserve to support it and a reserve of 1054 tonnes is far from being enough.


The article went on to note that China needs only to use one tenth of its current dollar holdings in reserve to bring its gold holdings to parity with the US even with gold at $1300/ounce. We note also that Ms. Yi Gang, the head of SAFE (the rather aptly named State Administration for Foreign Currency), said earlier this month that China could add gold to its reserve position but would do so only “prudently,” rather  than aggressively. Nonetheless, Mr. Meng’s article shall raise gold’s profile all things being otherwise equal.


Wed, 10/27/2010 - 22:22 | 682223 High Plains Drifter
High Plains Drifter's picture

I wonder how many of those gold bullion bars they have drilled holes in?

Thu, 10/28/2010 - 00:34 | 682448 StychoKiller
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To what purpose?  Transmogrifying them into sponges to sop up "excess liquidity?"

Thu, 10/28/2010 - 04:10 | 682679 dark pools of soros
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"become an international currency like the dollar or the EUR, China has to get a huge gold reserve to support it"


Thu, 10/28/2010 - 06:02 | 682752 Burnsy
Burnsy's picture

Lifting their reserve holdings to 10%, the world CB average, would equate to about 7000 tons at current prices. Meaning 2,5-3 times last years total production. China will not go about this by buying large amounts through the central bank. Rather, they will continue to encourage their growing middle class to accumulate gold (as they are already) and thus lift their total gold holdings. This asian middle class accumulation is underestimated. Their culture is very much tuned towards saving in precious metals, but they have had periods where they haven't been allowed to. This could be a slow, heavy tide of demand. I will certainly be accumulating alongside these good "folks" (look! I can be as down to earth as the politicians!)

Thu, 10/28/2010 - 17:07 | 684546 chopper read
chopper read's picture

i love it.  you can't go wrong referring to "folks". 

anyway, some anectdotal evidence from conversations here at the CBOT.  rumor has it (from a trader whose father is in the mining business down in South America) that China is going directly to gold mining countries for the purpose of developing new mines with reserves that will never see the open market but rather be acquired directly by the Chinese Central Bank. 

...sneaky, sneaky, sneaky.  :) 

Thu, 10/28/2010 - 00:58 | 682498 66Sexy
66Sexy's picture

yup we should all bend our knees and confess rothchild is lord of all.

Thu, 10/28/2010 - 08:40 | 682631 Troy Ounce
Troy Ounce's picture


This attack of the investors goes to the heart of the confidence game of the Ponzi system.

Note that you, I, judges, Congress men, bankers, business men and women i.e. all of us, have reaped the benefits of the Big Ponzi by buying cars, houses, holidays, etc. Actually, we had fun, didn't we?

Now, after 40 years of cheap money, La-la-land will come to an end and an adjustment of 80-90% MUST come. Our only problem is we don't know when.

Our esteemed investors are fighting the last ray of hope that the wealth of our society is not imaginary, but real. They are attacking all of us.

But let's get it over with. Burn it down and have a fresh start.



Wed, 10/27/2010 - 19:13 | 681820 AGORACOM
AGORACOM's picture

Short $JPM, long SLV

It is getting harder and harder for Wall Street / Elite manipulators to fight the masses who have had enough.  If you hate lawyers, this is the time to love them.  From mortgages to silver, they are going to lead the fight.

Only a matter of time before GATA / Ron Paul and others are proven right with respect to gold market manipulation.


George ... The Greek .... From Canada

Wed, 10/27/2010 - 19:13 | 681828 Minion
Minion's picture

Been short since the explosion to the downside last week.  :)

Wed, 10/27/2010 - 20:37 | 682020 Bendromeda Strain
Bendromeda Strain's picture

And GLD is HSBC, ergo...

Wed, 10/27/2010 - 20:51 | 682059 boooyaaaah
boooyaaaah's picture

Maybe George already knows that

Maybe George is a salesman working for JPM

When JPM pulls out the rug then George will be rich

Wed, 10/27/2010 - 21:20 | 682117 JLee2027
JLee2027's picture

Avoid SLV, get physical silver only.

Wed, 10/27/2010 - 23:55 | 682400 Rahm
Rahm's picture

Physical is money, and nothing else!

Wed, 10/27/2010 - 20:02 | 681937 XitSam
XitSam's picture

The lawyers are not doing this because they are pure of heart.  They are doing it for their cut of the settlement if they win.  

Oh, and how long does anyone think this suit will take? I would say 18 months before it even goes to trial. A lot can happen in the meantime.

Wed, 10/27/2010 - 20:30 | 682001 Unlawful Justice
Unlawful Justice's picture

Sharks eating sharks,

A real shark-fest gladiator arena.

Mutual destruction sequence..................... commence.

Sharks smell fear, but can they smell the their own fear?


Wed, 10/27/2010 - 21:08 | 682087 CPL
CPL's picture

No one in here will see the end of it, because it will be simplely forgotten when the first shots are fired by some loon and the war starts.

Wed, 10/27/2010 - 22:23 | 682225's picture

The lawyers are not doing this because they are pure of heart.  They are doing it for their cut of the settlement if they win.


Are we to assume that you refuse payment for services you render?

Thu, 10/28/2010 - 14:40 | 684007 XitSam
XitSam's picture

Of course not, but their cut will probably be 40% of hundreds of millions, while the members of the class get a pittance, like a 10% discount on the next 5 oz bar purchased.  See the tobacco settlement. A lawyer should get his full hourly rate, not a percentage.

Thu, 10/28/2010 - 06:48 | 682538 i-dog
i-dog's picture

"I would say 18 months before it even goes to trial."

Au contraire. I'd suggest the defendants will offer a handsome early settlement before too much discovery is conducted.

OTOH, while lawyers jump at settlements, well-heeled plaintiffs sometimes prefer to force a public trial for reasons other than financial gain.

Thu, 10/28/2010 - 14:43 | 684017 XitSam
XitSam's picture

No argument the defendants will try mightily to settle. As a class-action, I don't think the lawyers are free to cut any deal they want. I think everyone should join the class and vote for trial.

Wed, 10/27/2010 - 19:59 | 681943 tmosley
tmosley's picture

You do know that JPM and HSBC are the custodians for SLV, right?  I'm thinking this is going to bankrupt those two firms, and their vaults will be found to be empty, or at least double sold, at which point SLV is going to do a nose dive while physical silver bores a hole straight through the moon, Looney Toons style.

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