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A Call to Action. Help End Gold Price Manipulation Now!

smartknowledgeu's picture




 

On the same day in which we released our letter writing campaign to “End Gold Price Manipulation Now!”, Barclays Plc was fined $43.8 million and Barclays trader Daniel James Plunkett was fined more than $160,000 for manipulating the gold price to avoid a $3.9 million payout to a client that had placed options on gold in the market. Of course, these types of shenanigans have been going on for more than a decade now, but since this event marks the first significant fine against a bullion bank and a banker for gold price manipulation, it is groundbreaking in that regard.

 

In any event, we have presented, in the past several years, numerous charts courtesy of Nanex and GATA’s Dimitri Speck in our SmartKnowledgeU blog that illustrate the exact same artificially-engineered statistically significant “gold pukes” immediately in the timeframe of the London PM Gold Price Fix that occurred when Barclays trader Daniel James Plunkett executed his fraud. I want to make crystal clear that this is not a new event nor the first time a trader at a large bank has left a massive footprint of the fraud they have executed in gold markets in suppressing its price. It is merely the first time a trader has been banned and a bank has been fined for such gold price fraud, and ample evidence that the numerous people that have dismissed our gold price manipulation articles over the last decade are nothing but bank shills that fight against the liberty and freedom of people and for the continuation of banker debt slavery.

 

We are attaching in this article our previously released letter writing campaign to one of the law firms that have initiated class action lawsuits for gold price manipulation in the hopes that this campaign will become viral. The mission of our letter writing campaign is to expose all banking shills that embark on persistent media campaigns to sell false stories that there are no signs of price manipulation in gold market, for we believe that such people inflict as much harm and damage to the effort to restore sound money and freedom as do the bankers that manipulate gold prices downward themselves. Secondly, we wish to extend the law firms’ investigation of gold price manipulation to the banks that have been fixing gold prices in the futures markets, not just via the London AM/PM price fixing mechanism. We hope to increase the intensity of the spotlight on the banks suspected of slamming the price of gold and silver time and time again, as these tactics have proven to succesfully rebuke bank fraud in recent times. For example, Bloomberg reported in January of this year that as the investigation into Forex manipulation was ongoing, the sudden surges and immediate reversals in currency pair rates that normally preceded the 4PM London close became rarer, less pronounced and in some cases, entirely disappeared.

 

Consequently, we do believe that focusing the public spotlight on gold and silver price fixing, while it will not eliminate fraud outright, will be effective in limiting and controlling the fraud. Thus, in our video below, we are launching a letter-writing campaign to urge the end of gold and silver price suppression schemes that are responsible for spreading economic misery throughout the world. We have provided a letter template and an envelope template so that you may easily print out a letter and send it onward to Kirby McInerney LLP in New York City to make use of the ample studies and raw data that provide mountains of evidence of gold and silver price fixing not only in the London price fix but also in the gold/silver futures markets during the price fix announcements. We firmly believe that a letter writing campaign will keep scrutiny on any ongoing gold price suppression mechanisms high and limit the ongoing efficacy of global banks that are interested in maintaining USD hegemony from severely slamming gold prices.

 

At a minimum, if you believe in free markets, are against fraud, and believe in sound money that doesn't double your cost of living every decade, we kindly ask for your assistance in our campaign as your help will eventually root out the truth during eventual court hearings related to this matter and grant the public what we all deserve – unmanipulated markets and economies based upon sound money that can sustain real organic economic growth. Merely click on the above links to print out our letter and envelope, sign it, and send it off in the mail to Kirby McInerny LLP. As we are at a critical stage in our battle for economic freedom, we urge all of you to take this step within the next 72 hours if possible. Please take five minutes and support our End Gold Price Manipulation Now! Campaign, print out the letter, and mail it in. We thank you in advance for your consideration.

 

In the below video, we present to you two clips regarding evidence of alleged gold price manipulation by the usual suspects: the Bank of Nova Scotia, Barclays, Deutsche Bank, HSBC and Société Générale, JP Morgan and Citibank.

 

 

Finally, we have attached the body of the letter below for those that prefer just to cut and paste it:

22 May, 2014

Mr. David Kovel, Esquire
Kirby McInerney LLP
825 Third Avenue
New York, NY 10022

 

Dear Mr. Kovel:

 

As the attorney at the law firm leading the class action lawsuit against the Bank of Nova Scotia, Barclays, Deutsche Bank, HSBC and Société Générale for manipulating the price of gold in the London PM Price Fix, I am sure that you are aware of the analysis performed by Rosa Abrantes-Metz and Albert Metz, who have discovered that in six years between 2004 and 2012, at least 67% of the unusual price spikes that immediately preceded the 3PM London gold price fix were downward as were an overwhelming 92% of significant price moves in 2010 that immediately preceded the London price fix. As a source of raw data in your class action lawsuit, I would also like to bring your attention to the book The Gold Cartel, by commodity analyst Dimitri Speck, in which the author analyzed minute-by-minute data in gold futures markets from 1993 to 2012 and discovered that large movements in gold price in futures markets over 2% in condensed periods of time were usually downward and occurred within the immediate timeframe of the London PM price fix as well.

Since the German business magazine Makro reported that 80% of the gold futures volume in daily trading is controlled by three banks – JP Morgan, Citigroup and HSBC – I encourage you to use Dimitri’s analysis to add JP Morgan and Citigroup to the 5 banks above in your class action lawsuit for gold price manipulation as the manipulation of gold price that has occurred in gold futures markets in recent years has been far worse, and is likely even easier to prove, than the gold manipulation that has been allegedly occurring in the London AM/PM Price Fix. Millions among us appreciate your efforts to root out the corruption that exists in gold and silver markets and we unilaterally support and applaud your efforts in bringing worldwide attention to this very serious matter.

 

Sincerely,

 

(Your Name Here)

 

 

 

About the author: JS Kim is the Founder & Managing Director of SmartKnowledgeU, an independent consulting & research firm dedicated to rooting out corruption in the financial industry. Click here to learn more about our wealth preservation services and how you can join our movement to return the world to sound money.

 

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Tue, 05/27/2014 - 13:32 | 4798904 MeelionDollerBogus
MeelionDollerBogus's picture

Gold price manipulation will end on its own when nations collapse.
It's coming & soon.
I don't want discount prices to go away sooner than I can stack enough before the big event.
The end-game is not a higher price in gold.
The end-game is infinite hyperinflation price for gold, bread, gasoline, liquor, cigarettes & certainly a place  to live.

If you're not preparing to barter silver for food you're not preparing at all. Period.

Tue, 05/27/2014 - 12:36 | 4798748 Joebloinvestor
Joebloinvestor's picture

It sure didn't help the price today.

I expect more downside just because they can force it there. 

Tue, 05/27/2014 - 12:16 | 4798691 Obama_4_Dictator
Obama_4_Dictator's picture

Face it guys, we are going to lose no matter what we do...they have unlimited funds to slam the prices down (we lose)....then when they let it rise they will raise taxes on it if we sell (we lose). 

Tue, 05/27/2014 - 18:20 | 4799837 MeelionDollerBogus
MeelionDollerBogus's picture

How is this losing? Silver ounces are cheaper to pick up and that's winning.
USLV 3.92x leveraged shares are also cheap at under 40 today at the close.
They have no time limit & their leverage means if you sold later at silver=50 you'd see USLV at
50 3.92 / 2800 = 1632.32/share before splits, and I'd expect splits. That's a shit-ton higher than 40/share and that's even more silver to get no matter the premium at 50/oz. When 50/oz comes next time it will be just a small data-point on the way to 150.
I'm not seeing the downside because I'm not positioned to ONLY make paper profits ONLY from this one thing.

http://flic.kr/p/kpoT2k slide 1 : regression (power) trend R2 = 0.98 USLV = silver3.92 / 2364.56
http://flic.kr/p/kppK2Z slide 2 : projections with & without ETF decay
http://flic.kr/p/kprn3f slide 3 : ETF decay on factor vs date

Close 39.91 : 2622.93 average constant for the equation with 19.08 silver spot USD / oz.troy

Tue, 05/27/2014 - 14:03 | 4799003 Tall Tom
Tall Tom's picture

Who is selling?

Yes they have "unlimited funds" to supress prices on the paper market. But that will end badly as the World loses confidence in the US Dollar.

 

Then the price will rise. The Dollar becomes worthless. As that is the only thing common to the people the US Government collapses. They will be powerless to levy and enforce taxes.

 

I win because I have bought Gold at supressed prices. I win because I will be able to trade Gold (and Silver) acquired at bargain prices for Goods, Properties, and Services at  firesale prices.

 

Anyone without Gold and Silver, having the plethora of worthless paper which is backed by a non existent entity, the Government, will be the losers.

 

I play to win.

Tue, 05/27/2014 - 12:00 | 4798625 CHX
CHX's picture

Get some physical metal, out of the system, and keep it out, and don't play their paper games. That''s probably the best you, I , we all can do. It won't take too long now anyway and the manipulation is over. my 2 ounces.

Tue, 05/27/2014 - 11:29 | 4798474 TruthTalker
TruthTalker's picture

I sent a letter - at least I can say I did SOMETHING other than just complain.  The truth is this - let them manipulate it as low as they want to - the people that get it know they just out gold and silver on sale.  I do not think the people that understand what is happening are going to sell for anything - and those just waking up will see it as a bargain and jump in - the price really does not matter - if gold and silver skyrocketed today would you trade it for worthless treasury notes?  Or buy land in the US with everything happening? 

Tue, 05/27/2014 - 10:44 | 4798281 FieldingMellish
FieldingMellish's picture

As usual, nothing will happen. Years of "investigation" went nowhere in silver.

Tue, 05/27/2014 - 10:08 | 4798149 exartizo
exartizo's picture

If governments by way of their financial institutions suppress the price of gold it is perceived (if inaccurately) that wildly fluctuating volatile metals market are not conducive to confidence in equity and bond markets.

You are no better than the shills at which you point a finger.

Your axe to grind is simply that you are upset because you do not have the control over your market that they do.

And as a result, you cannot make as much money selling gold to poor suckers who do not understand what gold is.

Make no mistake.

You are no different than them.

Tue, 05/27/2014 - 09:54 | 4798112 RevRex
RevRex's picture

Why complain about something that's never going to change unless the guilty parties start turning up with .44 magnum holes in their foreheads?

 

 

Our forefathers fought back over FUCKING TEA!

Tue, 05/27/2014 - 10:00 | 4798131 Bro of the Sorr...
Bro of the Sorrowful Figure's picture

welcome to america, land of the quee's, home of the slaves. only thing today's young men would fight for are bieber tickets and ipads. i went to my baby sister's graduation a couple weeks ago and didn't see a single student worthy of being called a man. today's tea party would be an actualy goddamn tea party.

Tue, 05/27/2014 - 09:37 | 4798062 Latitude25
Latitude25's picture

I would like to know the exchange rate of gold for gas that Turkey paid to Iran when that deal was ongoing.  That might reveal the true value of gold.

Tue, 05/27/2014 - 09:23 | 4798029 dizzyfingers
dizzyfingers's picture
Media seems to miss these facts on the first quarter economic results: Retail store results for the 1st quarter of 2014 have been rolling in over the last week. It seems the hideous government reported retail sales results over the last six months are being confirmed by the dying bricks and mortar mega-chains. In case you missed the corporate mainstream media not reporting the facts and doing their usual positive spin, here are the absolutely dreadful headlines: Wal-Mart Profit Plunges By $220 Million as US Store Traffic Declines by 1.4% Target Profit Plunges by $80 Million, 16% Lower Than 2013, as Store Traffic Declines by 2.3% Sears Loses $358 Million in First Quarter as Comparable Store Sales at Sears Plunge by 7.8% and Sales at Kmart Plunge by 5.1% JC Penney Thrilled With Loss of Only $358 Million For the Quarter Kohl’s Operating Income Plunges by 17% as Comparable Sales Decline by 3.4% Costco Profit Declines by $84 Million as Comp Store Sales Only Increase by 2% Staples Profit Plunges by 44% as Sales Collapse and Closing Hundreds of Stores Gap Income Drops 22% as Same Store Sales Fall American Eagle Profits Tumble 86%, Will Close 150 Stores Aeropostale Losses $77 Million as Sales Collapse by 12% Best Buy Sales Decline by $300 Million as Margins Decline and Comparable Store Sales Decline by 1.3% Macy’s Profit Flat as Comparable Store Sales decline by 1.4% Dollar General Profit Plummets by 40% as Comp Store Sales Decline by 3.8% Urban Outfitters Earnings Collapse by 20% as Sales Stagnate McDonalds Earnings Fall by $66 Million as US Comp Sales Fall by 1.7% Darden Profit Collapses by 30% as Same Restaurant Sales Plunge by 5.6% and Company Selling Red Lobster TJX Misses Earnings Expectations as Sales & Earnings Flat Dick’s Misses Earnings Expectations as Golf Store Sales Plummet Home Depot Misses Earnings Expectations as Customer Traffic Only Rises by 2.2% Lowes Misses Earnings Expectations as Customer Traffic was Flat Of course, those headlines were never reported. I went to each earnings report and gathered the info that should have been reported by the CNBC bimbos and hacks. Anything you heard surely had a Wall Street spin attached, like the standard BETTER THAN EXPECTED. I love that one. At the start of the quarter the Wall Street shysters post earnings expectations. As the quarter progresses, the company whispers the bad news to Wall Street and the earnings expectations are lowered. Then the company beats the lowered earnings expectation by a penny and the Wall Street scum hail it as a great achievement.  The muppets must be sacrificed to sustain the Wall Street bonus pool. Wall Street investment bank geniuses rated JC Penney a buy from $85 per share in 2007 all the way down to $5 a share in 2013. No more needs to be said about Wall Street “analysis”.
Tue, 05/27/2014 - 09:19 | 4798022 Racer
Racer's picture

All the punishment has done is reinforce that it was just a price of doing business and a pat on the back saying "Carry On"

Tue, 05/27/2014 - 09:10 | 4797997 MrBoompi
MrBoompi's picture

I think there are a couple of reasons why the gold and silver prices are being manipulated. It must be rather easy to do so if you have the trading access and knowhow, and it is profitable. I suppose there may be another reason too such as propping up the value of the dollar but this seems rather far fetched at this point. While puking the prices downward does harm some people, very few hold physical metal. Very few (Americans) are harmed. A similar approach in the stock market would cause massive public outrage since so many peoples 401ks and other investment accounts involve stocks. There is incentive to manipulate these prices upwards, or at least prevent losses if at all possible. I do think the gold and silver action seems like short term HFT ways to front run the drops and the subsequent price gains. I'm not an expert, but if a person was told, for instance, that the price of silver was going to drop $.20/oz at 10am, there must be a way to profit from that knowledge, both on the drop in price and the rebound. Like taking candy from a baby.

Tue, 05/27/2014 - 10:59 | 4798341 topshelfstuff
topshelfstuff's picture

"""I suppose there may be another reason too"""

Yes, the major ones =

NO Limit on the amount that can be "invested" ... And

 

 

 

Any Losses end-up on the Taxpayer's Tab

 

 

Tue, 05/27/2014 - 08:28 | 4797866 duo
duo's picture

Why the gold miners aren't making a sound about this shows the depth of the corruption.  They have to be in on it at this point.

What if GS or Baclays slammed the price of corn or pork below the cost of production every morning?

Tue, 05/27/2014 - 09:16 | 4797989 Downtoolong
Downtoolong's picture

I suspect many bullion producers have bank debt that is linked to the bullion price, i.e., they pay off their debt in bullion ounces. That effectively means there is a bullion derivative imbedded in the loan agreement. When the bank lender manipulates the price of bullion downward on a payment or settlement day, the lender is effectively lowering the amount of the producer’s payment and principle reduction. Alternatively, if the payment amount is fixed, more bullion goes to the lender leaving less available for the producer to sell in the free market. Either way, the producer is being held hostage by the lender. It’s debt slavery in one of its most blatant forms.

P.S. The  banks do play this game in all commodity futures and derivatives markets, not just gold. It works best for them at times when the market is illiquid and most vulnerable to being banged, which they can easily determine by monitoring the level of activity and volume.   

Tue, 05/27/2014 - 08:38 | 4797902 philipat
philipat's picture

Yeah, but Gold is what the CB's call within "Monetary Policy". We call it "Manipulation"??

Tue, 05/27/2014 - 08:04 | 4797803 Peter Pan
Peter Pan's picture

Courts are mostly part of the fraudulent activities and cover ups. They will disallow evidence, delay their decision and finally give twisted reasoning exonerating the fraudsters.

Tue, 05/27/2014 - 11:50 | 4798578 Joenobody12
Joenobody12's picture

"  Courts are mostly part of the fraudulent activities and cover ups. They will...."

Are you saying we should pick up arms and start shooting ? 

Tue, 05/27/2014 - 08:27 | 4797854 Colonel Klink
Colonel Klink's picture

Oh so the courts are just like the regulators then!  Got it.  Now it all makes sense.  The final straw will be upon the camel's back.

The message to all....NO MORE RULE OF LAW.  If nothing applies to them, then I will obey nothing which applies to me.

Spread the message far and wide.

Tue, 05/27/2014 - 09:31 | 4798049 Bindar Dundat
Bindar Dundat's picture

After the Supreme court Obamacare decision all hope is lost for a honest system. The gangsters and the socialists are now in 100% control.

 

We are now doomed to a life in serivitude unless we start fighting back. 

Tue, 05/27/2014 - 18:47 | 4799915 MeelionDollerBogus
MeelionDollerBogus's picture

What is Fascism - John T Flynn - Von Mises - youtube
http://youtu.be/4Ml7-aDXrgQ

FASCISTS not SOCIALISTS. Socialists are THE PEOPLE (us) owning  the means of production. No such thing happened.

FASCISM is the merger of CORPORATION into GOVERNMENT. Obamacare is rule of LIFE and law over you by the INSURANCE companies who dictated every word & control every dollar.

Tue, 05/27/2014 - 09:48 | 4798096 RevRex
RevRex's picture

Have you shot anyone lately?

Tue, 05/27/2014 - 11:47 | 4798560 Polonius
Polonius's picture

I hate to be so melodramatic (sarcasm is so much more fun) but this may be the single most important battle in the 6000 year war against human enslavement.  The bastards running this plantation are nothing if not crafty and resilient, having retained control through all manner of setbacks over millenia, so vigilance is paramount.  You and your progeny are being systematically programmed, dumbed down and poisoned to counteract your ability to organize and succeed.  But the fact that a video like the German expose noted above was even possible is remarkable.  Your owners have a complete lockdown on the anglo media and nothing of the sort would ever be allowed.  Kudos, JSK.  You deserve a hall in the pantheon of liberators.

Tue, 05/27/2014 - 11:25 | 4798453 Cpl Hicks
Cpl Hicks's picture

Have you shot AT anyone lately?

Tue, 05/27/2014 - 08:24 | 4797853 BeetleBailey
BeetleBailey's picture

Yup. Money (bribes and favors) talks.....and Federal judges are not immune....and lots ....bitten.

Tue, 05/27/2014 - 08:17 | 4797821 philipat
philipat's picture

And, it also seems, therefore, apprpriate, that Gold is getting a good monkey-hammering today. They don't care. They are totally shameless and they know that they are beyond what rule of law actually remains. Which isn't much?

Tue, 05/27/2014 - 12:17 | 4798694 hungrydweller
hungrydweller's picture

Fine with me.  Keep slamming it down.  I love a good sale and I have plenty of time.

Tue, 05/27/2014 - 12:21 | 4798700 Obama_4_Dictator
Obama_4_Dictator's picture

Must be nice...some of us can't stay solvant forever with this collapsing economy thanks to the powers that be.....

Tue, 05/27/2014 - 18:54 | 4799939 MeelionDollerBogus
MeelionDollerBogus's picture

solvent? How does the gold price going down make you less solvent?
After you've paid for property, bills, debts, food, energy, etc., you then buy gold & silver, and the ounces don't get lighter when the price moves.
Gold could go to zero and it would not reduce my solvency.
How is it you're affected?

Tue, 05/27/2014 - 15:37 | 4799327 hungrydweller
hungrydweller's picture

The key to staying solvent is recognizing as soon as possible that the light at the end of the tunnel is an oncoming train.  With prudent preparations, it takes little income to remain solvent.  Preparing by eliminating all debt, including motrtgage debt, building a long-term storage food supply, having an emergency cash supply, a way to provide limited power for heating and cooking, a way to procure/store clean water, a garden for fresh veggies, tools, personal protection and like minded people to trade with and support each other.  It's not too late to make modest preparations.

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