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Whistleblower Exposes JP Morgan's Silver Manipulation Scheme

Tyler Durden's picture





 

Earlier today the CFTC held a sham hearing in which, among other things, the organization discussed position limits in PM speculation, because, you know, it's the mom and pop speculators that destroy the precious metal market (not JP Morgan or the New York Fed mind you). The hearing could not have come at a more opportune time. GATA has just broken a major story, in which a London metals trader-slash-whistleblower exposes JP Morgan's silver price suppression/manipulation scheme. At this point none of this should be at all shocking, and the only thing that matters is when CFTC's ex-Goldmanite Gary Gensler will be fired for allowing hundreds of billions of dollars to be sucked out of the PM market on behalf of such major market manipulating entities as JP Morgan and the New York Federal Reserve, for whom it transacts. Don't worry - the answer to that rhetorical question is "never", as it is the administration's goal to make all the millionaires among the bulge bracket firms billionaires, via legalized theft from honest investors. Furthermore, if indeed the CFTC is complicit in these manipulative events, as GATA suggest, we hope our objective mainstream media readers enjoin GATA in seeking justice for this criminal breach of proper regulatory enforcement.

From GATA:

Additional Statement by Bill Murphy, Chairman
Gold Anti-Trust Action Committee

to the U.S. Commodity Futures Trading Commission
Washington, D.C., March 25, 2010

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.

In an e-mail on February 5 Maguire wrote: "It is common knowledge here
in London among the metals traders that it is JPM's intent to flush out
and cover as many shorts as possible prior to any discussion in March
about position limits. I feel sorry for all those not in this loop. A
serious amount of money was made and lost today and in my opinion as a
result of the CFTC's allowing by your own definition an illegal
concentrated and manipulative position to continue."

Expiry of the COMEX April call options is tomorrow, March 26.
There was large open interest in strikes from $1,100 to $1,150 in gold.
As always happens month after month, HSBC and JPM sell short in large
quantities to overwhelm all bids and make unsuspecting option holders
lose their money. As predicted by GATA, the manipulation started on
March 19, when gold was trading at $1,126. Last night it traded at
$1,085.

This is how much the gold cartel fears the CFTC's enforcement
division. They thumb their noses at you because in more than a decade
of complaints and 18 months of a silver market manipulation
investigation nothing has been done to stop them. And this is why JPM's
cocky and arrogant traders in London are able to brag that they
manipulate the market.

This is an outrage and we are making available to the press the e-mails from Maguire wherein he warns of a manipulative event.

Additionally Maguire informed us that he has tape recordings of his
telephone communications with the CFTC, which we are taking the
appropriate legal steps to acquire.

* * *

From: Andrew Maguire
Sent: Tuesday, January 26, 2010 12:51 PM
To: Ramirez, Eliud [CFTC]
Cc: Chilton, Bart [CFTC]
Subject: Silver today

Dear Mr. Ramirez:

I thought you might be interested in looking into the silver trading
today. It was a good example of how a single seller, when they hold
such a concentrated position in the very small silver market, can
instigate a selloff at will.

These events trade to a regular pattern and we see orchestrated
selling occur 100% of the time at options expiry, contract rollover,
non-farm payrolls (no matter if the news is bullish or bearish), and in
a lesser way at the daily silver fix. I have attached a small
presentation to illustrate some of these events. I have included gold,
as the same traders to a lesser extent hold a controlling position
there too.

Please ignore the last few slides as they were part of a training session I was holding for new traders.

I brought to your attention during our meeting how we traders look
for the "signals" they (JPMorgan) send just prior to a big move. I saw
the first signals early in Asia in thin volume. As traders we profited
from this information but that is not the point as I do not like to
operate in a rigged market and what is in reality a crime in progress.

As an example, if you look at the trades just before the pit open
today you will see around 1,500 contracts sell all at once where the
bids were tiny by comparison in the fives and tens. This has the
immediate effect of gaining $2,500 per contract on the short positions
against the long holders, who lost that in moments and likely were
stopped out. Perhaps look for yourselves into who was behind the trades
at that time and note that within that 10-minute period 2,800 contracts
hit all the bids to overcome them. This is hardly how a normal trader
gets the best price when selling a commodity. Note silver instigated a
rapid move lower in both precious metals.

This kind of trading can occur only when a market is being controlled by a single trading entity.

I have a lot of captured data illustrating just about every price
takedown since JPMorgan took over the Bear Stearns short silver
position.

I am sure you are in a better position to look into the exact details.

It is my wish just to bring more information to your attention to assist you in putting a stop to this criminal activity.

Kind regards,
Andrew Maguire

* * *

From: Ramirez, Eliud [CFTC]
To: Andrew Maguire
Sent: Wednesday, January 27, 2010 4:04 PM
Subject: RE: Silver today

Mr. Maguire,

Thank you for this communication, and for taking the time to furnish the slides.

* * *

From: Andrew Maguire
To: Ramirez, Eliud [CFTC]
Cc: BChilton [CFTC]
Sent: Wednesday, February 03, 2010 3:18 PM
Subject: Re: Silver today

Dear Mr. Ramirez,

Thanks for your response.

Thought it may be helpful to your investigation if I gave you the
heads up for a manipulative event signaled for Friday, 5th Feb. The
non-farm payrolls number will be announced at 8.30 ET. There will be
one of two scenarios occurring, and both will result in silver (and
gold) being taken down with a wave of short selling designed to take
out obvious support levels and trip stops below. While I will no doubt
be able to profit from this upcoming trade, it is an example of just
how easy it is to manipulate a market if a concentrated position is
allowed by a very small group of traders.

I sent you a slide of a couple of past examples of just how this will play out.

Scenario 1. The news is bad (employment is worse). This will have a
bullish effect on gold and silver as the U.S. dollar weakens and the
precious metals draw bids, spiking them higher. This will be sold into
within a very short time (1-5 mins) with thousands of new short
contracts being added, overcoming any new bids and spiking the precious
metals down hard, targeting key technical support levels.

Scenario 2. The news is good (employment is better than expected).
This will result in a massive short position being instigated almost
immediately with no move up. This will not initially be liquidation of
long positions but will result in stops being triggered, again
targeting key support levels.

Both scenarios will spell an attempt by the two main short holders
to illegally drive the market down and reap very large profits. Locals
such as myself will be "invited" on board, which will further add
downward pressure.

The question I would expect you might ask is: Who is behind the
sudden selling and is it the entity/entities holding a concentrated
position? How is it possible for me to know what will occur days before
it will happen?

Only if a market is manipulated could this possibly occur.

I would ask you watch the "market depth" live as this event occurs
and tag who instigates the move. This would surly help you to pose
questions to the parties involved.

This kind of "not-for-profit selling" will end badly and risks the integrity of the COMEX and OTC markets.

I am aware that physical buyers in large size are awaiting this
event to scoop up as much "discounted" gold and silver as possible.
These are sophisticated entities, mainly foreign, who know how to play
the short sellers and turn this paper gold into real delivered physical.

Given that the OTC market (where a lot of the selling occurs) runs
on a fractional reserve basis and is not backed up by 1-1 physical
gold, this leveraged short selling, where ownership of each ounce of
gold has multi claims, poses a very large risk.

I leave this with you, but if you need anything from me that might help you in your investigation I would be pleased to help.

Kind regards,
Andrew T. Maguire

* * *

From: Andrew Maguire
To: Ramirez, Eliud [CFTC]
Sent: Friday, February 05, 2010 2:11 PM
Subject: Fw: Silver today

If you get this in a timely manner, with silver at 15.330 post data,
I would suggest you look at who is adding short contracts in the silver
contract while gold still rises after NFP data. It is undoubtedly the
concentrated short who has "walked silver down" since Wednesday,
putting large blocks in the way of bids. This is clear manipulation as
the long holders who have been liquidated are matched by new short
selling as open interest is rising during the decline.

There should be no reason for this to be occurring other than
controlling silver's rise. There is an intent to drive silver through
the 15 level stops before buying them back after flushing out the long
holders.

Regards,
Andrew

* * *

From: Andrew Maguire
To: Ramirez, Eliud [CFTC]
Cc: BChilton [CFTC]; GGensler [CFTC]
Sent: Friday, February 05, 2010 3:37 PM
Subject: Fw: Silver today

A final e-mail to confirm that the silver manipulation was a great
success and played out EXACTLY to plan as predicted yesterday. How
would this be possible if the silver market was not in the full control
of the parties we discussed in our phone interview? I have honored my
commitment not to publicize our discussions.

I hope you took note of how and who added the short sales (I
certainly have a copy) and I am certain you will find it is the same
concentrated shorts who have been in full control since JPM took over
the Bear Stearns position.

It is common knowledge here in London among the metals traders that
it is JPM's intent to flush out and cover as many shorts as possible
prior to any discussion in March about position limits. I feel sorry
for all those not in this loop. A serious amount of money was made and
lost today and in my opinion as a result of the CFTC's allowing by your
own definition an illegal concentrated and manipulative position to
continue.

Bart, you made reference to it at the energy meeting. Even if the
level is in dispute, what is not disputed is that it exists. Surely
some discussions should have taken place between the parties by now.
Obviously they feel they can act with impunity.

If I can compile the data, then the CFTC should be able to too.

I would think this is an embarrassment to you as regulators.

Hoping to get your acknowledgement.

Kind regards,
Andrew T. Maguire

* * *

From: Andrew Maguire
To: Ramirez, Eliud [CFTC]
Sent: Friday, February 05, 2010 7:47 PM
Subject: Fw: Silver today

Just logging off here in London. Final note.

Now that gold is undergoing short covering, please look at market
depth right now in silver and evidence the large selling blocks in a
thin market being put in the way of silver regaining the technical 15
level, which would cause a short covering rally and new longs being
instigated. This is resulting in the gold-silver ratio being stretched
to ridiculous levels.

I hope this day has given you an example of how silver is "managed" and gives you something more to work with.

If this was long manipulation in, say, the energy market, the shoe would be on the other foot, I suspect.

Have a good weekend.

Andrew

* * *

From: Andrew Maguire
Sent: Tuesday, February 09, 2010 8:24 AM
To: Ramirez, Eliud [CFTC]
Cc: Gensler, Gary; Chilton, Bart [CFTC]
Subject: Fw: Silver today

Dear Mr. Ramirez,

I hadn't received any acknowledgement from you regarding the series
of e-mails sent by me last week warning you of the planned market
manipulation that would occur in silver and gold a full two days prior
to the non-farm payrolls data release.

My objective was to give you something in advance to watch, log, and follow up in your market manipulation investigation.

You will note that the huge footprints left by the two concentrated
large shorts were obvious and easily identifiable. You have the data.

The signals I identified ahead of the intended short selling event were clear.

The "live" action I sent you 41 minutes after the trigger event
predicting the next imminent move also played out within minutes and
exactly as I outlined.

Surely you must at least be somewhat mystified that a market move could be forecast with such accuracy if it was free trading.

All you have to do is identify the large seller and if it is the
concentrated short shown in the bank participation report, bring them
to task for market manipulation.

I have honored my commitment to assist you and keep any information
we discuss private,however if you are going to ignore my information I
will deem that commitment to have expired.

All I ask is that you acknowledge receipt of my information. The rest I leave in your good hands.

Respectfully yours,

Andrew T. Maguire

* * *

From: Ramirez, Eliud
To: Andrew Maguire
Sent: Tuesday, February 09, 2010 1:29 PM
Subject: RE: Silver today

Good afternoon, Mr. Maguire,

I have received and reviewed your email communications. Thank you so very much for your observations.

 

 


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Fri, 03/26/2010 - 07:53 | Link to Comment goldfreak
goldfreak's picture

Amen to that

Fri, 03/26/2010 - 07:58 | Link to Comment SWRichmond
SWRichmond's picture

There's a guy on GIM who says he and his wife cashed out their IRAs, paid the penalties, and bought physical gold and silver when gold was at 350 an ounce.

Fri, 03/26/2010 - 12:41 | Link to Comment The Disappointed
The Disappointed's picture

I got out my IRAs and bought Au @ $650 and Ag @ $11 (at a different time). Wonder what my IRA balance would be now.

Fri, 03/26/2010 - 07:20 | Link to Comment Al Gorerhythm
Al Gorerhythm's picture

Watch the FTSE and the DOW streak here.

For those who missed the boat: max out your lines of credit buying pm's and then default by paying it off in ever more worthless FRN's. Trap the bastards with their own game plan.

Fri, 03/26/2010 - 07:28 | Link to Comment williambanzai7
williambanzai7's picture

Looks like yet another mission for ET...Edolphus Towns to the rescue, Edolphus Towns to the rescue....

Fri, 03/26/2010 - 07:51 | Link to Comment goldfreak
goldfreak's picture
This chart shows the intraday average price of gold for the last ten years. You can see an average daily drop when the Comex opens. http://www.seasonalcharts.com/intraday_metalle_gold.html Quote: In order to test for a suppressive trading bias in the New York trading
time GATA consultant, Dimitri Speck averaged the
percentage change at each minute of the trading day over 16 years. The result is
shown in figure 3. The green horizontal line is neutral bias. It can be seen that
gold has a positive bias (above the green line) in the averaged trading day,
except during the time the Comex is open for trading where it has a negative bias
(below the green line). It also shows that there is a very pronounced “waterfall”
decline in the averaged 16 years of data immediately after the PM fix. Clearly for
the waterfall characteristic to be so well defined when averaging 16 years of data
it is evident that it is a frequent feature in the daily trading pattern.
It is statistically improbable that over 16 years gold sells off in New York but
gains in all other global markets. This is a smoking gun of manipulation.
Silver market trading is highly correlated to that of gold and exhibits similar price
suppression. If the price of the precious metals is being suppressed on the
Comex how is this being achieved?
Fri, 03/26/2010 - 09:26 | Link to Comment Gen X Gen Y Hybrid
Gen X Gen Y Hybrid's picture

Cool.  In other words, get ready to buy between 10 and 11 am this morning and sell before market close.

Fri, 03/26/2010 - 07:38 | Link to Comment brindlebullmastiffs
brindlebullmastiffs's picture

Check out the SPIKE in silver lease rates.  Supply getting tight for delivery (I believe there are 25M Oz. standing for delivery this month)! 

+0.5160 on one month

Fri, 03/26/2010 - 08:03 | Link to Comment SWRichmond
SWRichmond's picture

An FM on the CRIMEX would be awesome.  "We're taking our marbles and going home.  SHIT!  WE DON'T HAVE ANY MARBLES!"

Fri, 03/26/2010 - 08:23 | Link to Comment 10044
10044's picture

Andrew Maguire is a hero, period.let's all send him confratulatory notes for being an honest man.
What was the point of the hearing? Does GS (gensler) want to whack jpm?

Fri, 03/26/2010 - 08:57 | Link to Comment BoeingSpaceliner797
BoeingSpaceliner797's picture

RIP (Rot In Peace), USA.

Fri, 03/26/2010 - 09:10 | Link to Comment buzzsaw99
buzzsaw99's picture

I have little sympathy for those who got taken. Everyone knows their market is a scam. Buy actual physical if you are interested and the price seems right to you, otherwise you are swimming with sharks.

Fri, 03/26/2010 - 09:54 | Link to Comment Voluntary Exchange
Voluntary Exchange's picture

No Buzz, everybody did not know, that is the problem. Don't blame the victim for the crime. They don't all read ZH. (but they should) 

This is a real wistle blower going out on a limb so that proof will exist in the public domain. We need real markets not crime syndicates.

Demand justice.  And organize for action when the authorities do nothing as we all expect them to.

Fri, 03/26/2010 - 09:22 | Link to Comment Cui Bono
Cui Bono's picture

Was very late to the party a few weeks ago (post 330 of 330) and thought I would repeat what I thought might give at least a nervous laugh....

Dead Sheeple Bounce

if they don't see their shadow

the debt goes away.......

as for those caught in the PauperM vice that the CFTC ingores perhaps they qualify for the

award of: "Animal Hero, Second Class- which was conferred posthumously to the dead sheep."

 

Done being too clever by half for the day... CB

 

Fri, 03/26/2010 - 09:24 | Link to Comment bbbilly1326
bbbilly1326's picture

I agree with the poster above, this is too good -- and too timely -- to be true.  I suspect that there is no trader name Andrew Maguire in London, and TPTB can thus discredit GATA's integrity.

And what's with Murphy ?   why did he read that thing without taking a breath,  makes him look like a real wacko.

Fri, 03/26/2010 - 09:36 | Link to Comment Alexandra Hamilton
Alexandra Hamilton's picture

Good afternoon, Mr. Maguire,

I have received and reviewed your email communications. Thank you so very much for your observations.

That's it? That's all? Who is heading the CFTC again? Oh, yes. Thanks.

Fri, 03/26/2010 - 10:34 | Link to Comment Al Gorerhythm
Al Gorerhythm's picture

Good afternoon Mr. Maguire,

Nothing to see here. Fuck off and fuck you.

Sincerely

Eliud Ramrearez

 

 

Fri, 03/26/2010 - 10:19 | Link to Comment DavosSherman
DavosSherman's picture

Laws do not apply to the elite or the rulers. Whether it be Tedd Kennedy and Mary Jo Kopechne or Congress passing a tax law they call health care and then not having to abide by it - ever.

 

Fri, 03/26/2010 - 10:27 | Link to Comment tmosley
tmosley's picture

So it strikes me that if the regulators do nothing about this, he needs only to publish a blog publicly predicting moves before they happen.  After a couple of times getting it right beforehand, EVERYONE will be in on the trade, and the efforts at manipulation will be busted by the market.  This will either force them to stop immediately, or it will find them on the business end of the mother of all short squeezes.

All he has to do is NOT go away, and become very very public about what is going on.

Fri, 03/26/2010 - 11:01 | Link to Comment Bob
Bob's picture

That would be an interesting strategy.  It might also inspire others to join in on a "movement" to resurrect honor in American life.  

Fri, 03/26/2010 - 10:35 | Link to Comment trichotil
trichotil's picture

hey where's master bates and his free market?!?

:lol:

Fri, 03/26/2010 - 11:37 | Link to Comment Hulk
Hulk's picture

Somebody threatened to a**rape him yesterday and he hasn't been heard from since!.Tenacious little bastard though, I like reading some of his posts and counterpoints

Fri, 03/26/2010 - 12:59 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

+1

I like the Wanker's comments as well. 

"Tenacious little bastard", now that was a well chosen way to desribe him.  Hope the a**hole who threatenen him doesn't drive him off ZH.

Fri, 03/26/2010 - 13:35 | Link to Comment Hulk
Fri, 03/26/2010 - 20:39 | Link to Comment whacked
whacked's picture

it is brutal but uncalled for ..

 

i was around in bunker-hunts day and again in buffets little play and enjoyed the profits... UK has no regulations and i do not think that the cftc have jurisdiction.. they can certainly probe on a political level..

 

i remember when you folk were hard on USD when i was long ..

 

you cant be right all the time and the 'brutal ' outbursts by certain posters shows their arrogance and myopic attitude to others. regretfully spetic tanks have that inbred .. u rule .. i should never forget that !!

Fri, 03/26/2010 - 10:52 | Link to Comment Rick64
Rick64's picture

This needs to be sent to every possible outlet- congressman, media, internet

 I know they are corrupt and probably won't do anything, but at least we can inform people so they don't get hammered in a trade. Don't think this is limited to Metals, they are doing this in futures stocks ect... The more people know the more pressure there is to change the situation.

Fri, 03/26/2010 - 11:21 | Link to Comment 37FullHedge
37FullHedge's picture

This is a little off topic but its the root of the problem here in the UK anyway. I had a flat and I found things regarding the service charge very iffy, I decided to have a go doing something about it, I was treated like GATA I discovered the Directors and the managing agent was a pure cartel engaged in mal/corrupt acts, They was a bunch of bare faces liars, Iike GATA I uncovered mal acts over £100K and made my report public to the people being ripped off, The cartel did its bit covering and lying, I gained support to remove the board of directors as unfit for purpose then fire the managing agent, I was very close to smash the cartel, They come back prior to execution of the EGM to talk over an iffy matter in the mix, The other flat owners bought their bare face lies, not in the minuites as standard, I was not happy. One other fraud found out was a piece of parking land they had been scamming for over 6 years owned by the block, Enforced by a LTD company which didnt exist, cars was clamped and stolen and cash only no credit card if you was a victim of this fraud and a mobile tel no for payment only. This fraud was uncovered by now and the managing agent asked, Do you want the illegal enforcement signs removed? in this members meeting, I said yes I got no support by anyone, The vote said very clear in this action carry on scamming and they are still doing so to this day. I reported this fraudulent trading company to trading standards, No reply, Its a joke,

The point of the above I have learned is play hardball dont waste time with good faith with things, If I had my car stolen from this land I would sue the managing agent big time, In this topic buy physical silver and own it, If GATA wants results next time it puts an advertisement in the WSJ promote buying phydsical silver and blow those shorts up.

This state of affairs does my fxxxing head in.

Fri, 03/26/2010 - 23:46 | Link to Comment THE DORK OF CORK
THE DORK OF CORK's picture

Gary Genslers reaction to Adrian Douglas take on the LBMA where he states that it is paper backing paper says it all - he just smirks and states he has no other questions.

Guys like Gensler are the same as those guys in school who suck up the teacher and gets stars for being a good boy - we are truly fucked.

Sun, 03/28/2010 - 06:51 | Link to Comment Wheatman
Wheatman's picture

The only way to combat these JPM criminals bullshit artists is to but physical silver and take it off their hands. Morons.

Everything will deflate against wheat.

Sun, 03/28/2010 - 22:40 | Link to Comment Frankie Carbone
Frankie Carbone's picture

Do Ramirez and Chilton have any clue what a pair of complete fucking clowns GATA and ZeroHedge are making them look like? 

Do they have any inkling of comprehension regarding how controlled, and criminal they look after this stuff is published? 

Do they realize that we ALL realize that they are dishonorable tools and we have the EVIDENCE in hand clearly demonstrating it?

ZH, GATA: Whether you like it or not, you have an obligation to keep the dogs hot on the trail. We're getting used to having a few HONEST reporters snooping around. 

Thu, 04/01/2010 - 20:47 | Link to Comment paladin
paladin's picture

yes Bill Murphy talked fast..

 

 

this was for a reason..

 

 

 

do you all know the whole story??

Mon, 04/05/2010 - 15:58 | Link to Comment piphogs
piphogs's picture

here'a an interview w/ Andrew Maguire, if u haven't heard it already:

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/3/30_A...

 

near the end of interview there is talk about Asia taking physical metal for payments and not paper.  I agree w/ maxing credit cards by purchasing silver.

 

one man's opinion

 

 

 

Tue, 04/13/2010 - 06:18 | Link to Comment mark456
mark456's picture

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Mon, 04/19/2010 - 22:25 | Link to Comment SILENCE DOOGOOD
SILENCE DOOGOOD's picture

   Why positive articles regarding Ag. only to be followed by an article that tells why we should prepare for long term floor prices and Why we should prepare to see silver fall in 2010????? Is this a test.... test out.....

  Read full article...

More on silver:

Major bullish development for silver

This could put a long-term floor under silver prices

Why you should be prepared to see silver fall in 2010

Topics: Precious Metals | Fraud | Commodities
Thu, 04/29/2010 - 11:49 | Link to Comment SILENCE DOOGOOD
SILENCE DOOGOOD's picture

  Why do you place contradicting articles such as the following:

 

   Read full article...

More on silver:

Major bullish development for silver

This could put a long-term floor under silver prices

Why you should be prepared to see silver fall in 2010

         Major bullish development for silver followed by "This could put a long term floor under silver" last and far from least, the hammer: "Why you should be prepared to see silver fall in 2010" ..... Is this some sort of mind fuck ???

                                                                               Silence

Wed, 10/20/2010 - 18:07 | Link to Comment grunion
grunion's picture

And then what...Have duels??

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shawnlee's picture

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george22's picture

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designerhandbagsoutlet's picture

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Sat, 05/14/2011 - 09:52 | Link to Comment isolinx
isolinx's picture

I visited this page first time and found it Very Good Job of acknowledgment and a marvelous source of info.........Thanks Admin!

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Sun, 05/22/2011 - 23:44 | Link to Comment kummar
kummar's picture

I am new here so I don't know if anyone has ever suggested that: we try the FED for their crimes, take their stuff "asset forfiture due to fraud" and dismiss their claims of our indebtedness. After all, they have stolen, are guilty and have made bogus claims that we owe them. It works for me. Screw the FED/NWO punk-ass demon

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Mon, 05/30/2011 - 05:07 | Link to Comment kummar
kummar's picture

January 7th we expect another ~$130 of new Treasuries to be announced for auction by January 15th. And then there are two more weeks in January... Which is why the Treasury better be using that TARP money to pay down all it can, because if the general population understands how close this nation was to the fiscal brink, many more answers may be demanded out of the ruling party as to how it could allow things to get so out of hand. 646-230 \ 352-001 \ JN0-101 \ 642-637 \ 1z0-053 \ 646-578 \ 642-873 \ 642-611 \ 1Y0-A08 \ 642-647 \ 1Y1-A19 \ 70-511

Thu, 06/09/2011 - 17:14 | Link to Comment sun1
sun1's picture

Its one of the good platform for awareness of people. Keep sharing such stuff in the future too. xbox 360 s

Tue, 06/14/2011 - 02:59 | Link to Comment kummar
kummar's picture

I feel sorry for all those not in this loop. A serious amount of money was made and lost today and in my opinion as a result of the CFTC's allowing by your own definition an illegal concentrated and manipulative position to continue."

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Thu, 06/23/2011 - 05:16 | Link to Comment mediahuset
mediahuset's picture

yorii komasi

Thanks for posting this article. I'm definitely tired of struggling to find relevant and intelligent comments on this topic. Everybody today seems to go to extremes to either drive home their views or suggest that anyone else in the world is wrong. Thank you for your accurate and relevant insights.

Sun, 06/26/2011 - 12:23 | Link to Comment sun
sun's picture

I visited this page first time and found it Very Good Job of acknowledgment and a marvelous source of info.........Thanks Admin!

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Sat, 07/02/2011 - 11:16 | Link to Comment cole
cole's picture

Drawing a bit on the longbow there, Chumba? A bit of a stretch but I know where you are coming from.

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Sat, 07/09/2011 - 03:03 | Link to Comment mediahuset
mediahuset's picture

Miguel maragi

How long have you been in this field? You seem to know a lot more than I do I’d love to know your sources. Cheers!

Mon, 07/11/2011 - 01:14 | Link to Comment john310
john310's picture

this may not be true, at least for some time (long enough for profitable trades). if gld settles in cash, like the notorious "failure to deliver" trades with the 25% premium to spot price we've heard so much about, it would pay in dollars based on the spot price, less fees. the crucial ingredient, imo, is that someone, probably a significant economic amount of someones, insists on actual physical delivery to break the veil of illusion that maintains the power of the naked shorts. if the dilution of the actual, tradable stock of physical bullion by these "paper gold" tracking derivatives is made plain, the resulting short squeeze, it would seem, would benefit both the holders of actual bullion and of paper gold, at least for a while.scbcd dumps/scmad dumps//VCP-410 dumps/640-802 dumps/70-680 dumps/000-118 dumps/1Y0-A19 dumps/E22-275 dumps/000-978 dumps/000-107 dumps

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