Posted: Mon Mar 29, 2010 6:47 pm Post subject: Gold/Silver & Financial Market Latest
This is a very interesting turn of events:
Bill Murphy of GATA Reveals Whistle-Blower in Gold Price Suppression
A London-based precious-metals trader who had accused JPMorgan Chase of manipulating the gold and silver markets was involved in a bizarre weekend car accident that triggered a police chase before the suspect was nabbed.
Andrew Maguire, a metals trader at the London Bullion Market Association, and his wife were traveling in their car when a second car coming out of a side street struck their vehicle. That car then hit two more vehicles before fleeing.
It appears Mr. Maguire, sent emails to staffers at the SEC, (aka Keystone Cops formerly run by chief eunich Chris Cox), that JP Morgan (JPM : 44.86, -0.16) actively manipulates the gold and silver markets. It also appears Mr. Maguire sent emails to the SEC regarding the dates and times these machinations by JP Morgan were taking place. Sadly the staff at the SEC are to busy surfing porn to have the time to follow up these leads from Mr. Maguire. Yes, it appears the staff over at the SEC is far to busy and overworked to seriously follow up and investigate leads like this. Deja vu all over again. But Madoff and Stanford were just too complicated to unravel. Lehman was just too hard to discover. shhhh don't tell anyone or we will get more new regulation with teeth in it courtesy of Sargent Schultz errr, excuse me I meant Chris Dodd.
And for those who really want to dig into this latest fraud:
When we put up a link to last week's CFTC hearing webcast little did we know that it would end up being the veritable (physical) gold mine (no pun intended) of information about what really transpires in the commodities market. First, we obtained direct evidence from Andrew Maguire (who may or may not have been the target of an attempt at "bodily harm" as reported yesterday) of extensive manipulation in the silver market.
For those of you who missed the CFTC hearing, here are two of the must-watch clips. In the first one, Adrian Douglas introduces the underlying concerns about the Ponzi nature of the LBMA hedging situation, in which a wholesale rush to "physical delivery" would result in a one hundred fold dilution of gold holdings, and a 99% result of unsecured creditor claims (good luck collecting on that particular bankruptcy). We also meet Jeffrey Christian, formerly of Goldman and currently of CPM, in which not only does the "expert" state that a bullion bank short is hedged by further shorting, but confirms Douglas' and GATA's previous claims that the "physical" market, as defined, is a joke, as the OTC market treats gold purely as a financial asset, essentially conforming to the precepts of fractional reserve banking. As Douglas notes "He confirms that the LBMA trades hundreds of times the real underlying physical. This is even a higher estimate than I have previously made! It is, as I asserted before the Commission, a giant Ponzi Scheme."
I think this is just the beginning and its all falling apart ... I'm sure Fintan will be interested ...
PS This kind of thing has been pointed out by legitimate traders for a long time:
A few months ago, commodity researcher Adrian Douglas (whom I cited in last week’s column) reported on his long-term study of the COMEX gold closes. He tracked the percentage change from one trading day to the next. Over the course of the study, the price of gold declined from one day to the next by more than 2 percent over 100 times. It increased by more than 2 percent only six times – and this in a market where the price rose by a huge percentage over time. Only once, as best I recall, did the price of gold increase by more than 2 percent one day and by more than 1 percent the next day. Yet there were numerous instances of consecutive daily price declines of 2 percent or more.
A market free of manipulation with prices rising over time would normally show a greater percentage of strong up days than down days. A pattern of continuous price rises would encourage the “momentum” investors to enter the market. Those wishing to hold down the price of gold have an incentive to discourage such investors from helping to drive up gold even higher. The unusual consistency of this 2 percent rule is signature of a manipulated market.
I've been following the market for some time. It's pretty much confirmed at this point that the gold market is not just leveraged in the paper realm but is actually flush with tungsten plated gold bars:
Joined: 04 May 2008 Posts: 828 Location: Outer Heaven
Posted: Mon Mar 29, 2010 10:11 pm Post subject:
Damn hawk...this is really news to devour. To think that today I was listening to the BFN audio concerning Martin Armstrong, these traders all better start trying to clean the shit off of the fans, this is insane and my god, could they be any more blatant in Maguire's death lol....hell they didn't even care to put up a patsy....or did they?
Joined: 16 Jun 2006 Posts: 3218 Location: Capacious Creek
Posted: Mon Mar 29, 2010 10:51 pm Post subject:
Holy shit. Thanks Hawk.
Seems odd that after almost 24 hours the 'hit
and run driver that spawned a helicopter chase'
has yet to be named. There are already a few bloggers
jumping to the conclusion that it was indeed a hit attempt.
This event may spark interest in Andrew Maguire's story.
These guys know what they are doing in the 'hit department' as well.
Andrew and fam's o.k. so either way this is a positive outcome!
Joined: 26 Jun 2007 Posts: 2459 Location: The Canadian shield
Posted: Tue Mar 30, 2010 8:43 am Post subject: All that glisters...
Guess that its time to buy stock in companies that have operational gold mines with proven reserves.
If and when it becomes generally known that "gold" ownership is mostly paper trading....I would expect the price of "real" gold to skyrocket. _________________ The grand design, reflected in the face of Chaos.
Murphy was advised to expect a strict time limit of five minutes for his presentation, even though the CFTC chairman Gary Gensler had the option to allow more time. In order to provide the maximum documentation possible into the official written record of these proceedings, Murphy raced through his 6-1/2 minute oral presentation in just five minutes. It was not a graceful presentation, but Murphy introduced a lot information into the record that the CFTC can no longer pretend not to know.
A Five minute limit!
A six and a half minute presentation -speeded up to fit in five!?
Curiously, the live television broadcast of the CFTC hearing suffered a technical failure right as Murphy was set to begin his testimony. This was corrected right after Murphy was finished. At the same time, at least one live voice broadcast failed during Murphy’s presentation. Coincidence?
I'm so surprised.
This says it all, about the CFTC:
The article conclusion:
I expect huge fallout. Remember, after the five men were arrested for breaking into the Democratic headquarters in Watergate in June 1972, it took more than two years for President Nixon to resign. I don’t think it will take anywhere near this long for last Thursday’s revelations to blow back against the U.S. government and the U.S. dollar. Once the public realizes the extent of the manipulation, gold and silver prices are likely to skyrocket.
The battle is on to prevent the public getting hold of this.
And they have the media in their control. Problem.
Gonna be much harder to stop investors from acting savvy, though.
It will need an escalating ramp up in manipulation, ironically.
I expect fallout too.
But it's gonna be a major battle, and a long one.
Andrew Maguire’s car, in which his wife and he were riding, was struck by a hit-and-run driver. Both Maguire and his wife were briefly hospitalized. The police eventually arrested the other driver. The Maguires may be considered more than lucky. There are other past would-be whistle blowers about the manipulation in gold and silver markets that died in unusual accidents before they were able to bring forth their evidence.
I'd like to get more on that. _________________ Minds are like parachutes.
They only function when open.
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.
Andrew T. Maguire
Good afternoon, Mr. Maguire,
I have received and reviewed your email communications. Thank you so very much for your observations.
Joined: 07 Mar 2007 Posts: 554 Location: western pennsylvania
Posted: Tue Mar 30, 2010 9:18 pm Post subject:
why worry about useless gold or silver or gold plated tungsten ...
gold and silver are soooo 20th century
the real value lies in copper coated lead, from 50 grain to 250 grain denominations each with its own brass dispenser (but stay off facebook and don't have a website detailing your tactical training!)
invest in something functional, a reliable car, good set of tools, an alcohol still....
Have You Caught Gold Fever? The Value of That Shiny Metal Is as Artificial as Paper Money
The economic doomsters and investment advisers are engaged in a collective hallucination when they see growing value in gold. _________________ Birth is the first example of " thinking outside the box"
100 to 1 Leverage. World’s Largest Fraud Exposed.
JP Morgan Chase Caught Manipulating Gold & Silver Market
By: plunger Tuesday March 30, 2010 4:25 am
GATA has been exposing the manipulation of gold and silver pricing for the past several years.
A total mainstream media blackout is in progress at this moment following mind-blowing revelations made at last weeks CFTC hearing – a complete debacle for the New World Order banksters.
Andrew Maguire is an independent metals trader turned whistle blower at the center of a storm for exposing what is the largest fraud in history involving countries, banks and government leaders. This interview blows the lid off the global scheme to cap gold and silver prices to support the fiat currency regime.
Within days, an assassination attempt on this whistleblower’s life serves to confirm the magnitude and accuracy of his revelations.
When Goldman and JP Morgan Chase (the Rockefeller / Rothschild Masters Of The Universe) took down Bear Stearns, it was to capture the massive silver naked short positions held by Bear. Connect all the dots and see that this story is the most massive threat to the globalists’ manipulations.
For every 100 ounces of paper silver traded on the COMEX, there is only one ounce of silver backing it.
The WORLD’S LARGEST FRAUD is right here. The entire globalist scheme is exposed.
As ever folks, cool reason must rule,
not emotion in judging all angles on this.
The hit and run angle gives me pause.
And that's why it gives me pause.
Not saying it's not true.
Just deploying my cool reason (not emotion) MO, is all.
It gives me pause when a story tweaks my emotion button.
That's worked for me so far. _________________ Minds are like parachutes.
They only function when open.
Last edited by Fintan on Tue Mar 30, 2010 10:47 pm; edited 1 time in total
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