Whistleblower Drops Metals Market Manipulation Bombshell

From my personal blog Fascist Soup

Just in case you were wondering why the metals markets were so acting so insane.

GATA brings us the low down:

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.

Bill Murphy, Chairman of the Gold Anti-Trust Action Committee delivers his testimony about a whistle-blower in the gold price suppression scheme to the Commodity Futures Trading Commission on 3/25/10.



We got JPMorgan out there blowing up the metals markets to flush out all the long positions before limits are put in place. We got Goldman out there looting a hundred million a day in high frequency trading fraud. We got the Fed out there bailing out all the corporate losses and dumping them on to the tax payer. We got the Treasury buying up its own debt. We got 5 trillion in off-balance sheet holdings from Fannie and Freddie. We got tens of trillions in unfunded Socialist Security and Medicare Ponzi liabilities. etc.. etc.. etc…

The looting at this point is so epic that its a miracle of Jesus we aren’t in a state of total chaos yet.

Seriously.

I would say Jesus H Christ must be real based on the fact that the US isn’t a smoking hulk of ruin right now. I’m personally praying for the 2nd coming before the dollar blowout occurs. If Christ fails to materialize soon, we will be living in hell on earth.

Of course, there is no word on any action being taken by the regulators.

Zero Hedge commenter BDig writes:

Actually, I’m pretty sure Ramirez genuinely cared about the event. This is the type of thing that will do wonders for someone’s career in regulation. However, the conversation with Ramirez’s superior would go something like this:

Ramirez: Boss! We’ve got some crazy manipulation stuff going on right now…

Boss: Let me make a quick call…

Dr. Claw: You should not be concerned with such matters.

Boss to Ramirez: There is no manipulation going on. You need not be concerned with such matters. Move along.

[edit on 26-3-2010 by mnemeth1]

I think people would be stupid to think a person or entity with tons of wealth can not manipulate a market, simply by putting money into it and pulling it out. Thanks for the information, more confirmation that people are seeing the flaws in our system.

Originally posted by ExPostFacto
I think people would be stupid to think a person or entity with tons of wealth can not manipulate a market, simply by putting money into it and pulling it out. Thanks for the information, more confirmation that people are seeing the flaws in our system.

Until they eliminate the federal reserve, the FDIC, and restore sound money, this fraud will continue no matter how many regulations, laws, or regulators are put in place.

Yeah, well they have been doing this sort of thing for a very long time! Yet, for someone to formerly, speak out, simply makes our thoughts to be fact!

Originally posted by mnemeth1
We got JPMorgan out there blowing up the metals markets to flush out all the long positions before limits are put in place. We got Goldman out there looting a hundred million a day in high frequency trading fraud. We got the Fed out there bailing out all the corporate losses and dumping them on to the tax payer. We got the Treasury buying up its own debt. We got 5 trillion in off-balance sheet holdings from Fannie and Freddie. We got tens of trillions in unfunded Socialist Security and Medicare Ponzi liabilities. etc.. etc.. etc…

thank you

gives a great motive for destroying records at the SEC
in Building 7 at the WTC doesn't it???
Billions of reasons why that building had to come down.

Only reason why this whistle-blower is still alive is
cuz they plan on obstructing the investigation on
the backend just like 9/11.

They're running out of places to bury the bodies


[edit on 26-3-2010 by boondock-saint]

Excellent thread mnemeth! Excellent points being made here. Obviously everyone has taken the hint that these large banks manipulate the market, now we have someone on the "Inside" confirming it. Think about what George Soros has been able to accomplish with his vast wealth, and he doesn't have the access that the banks have!

The bigger question is what are the "Regulators" going to do about it. My guess... nothing! I mean why would they? They've known for years about all of the fraud that was occurring and they've done nothing, literally! In the past year, there has been overwhelming evidence of market manipulation and such and again, nothing has been done. Legislators have yet to enact any reform. In fact, they haven't even held any serious discussions about what to do about it.

It is glaringly apparent to me that that all of these theatrics; healthcare reform and such, have been a distraction that allows the looting to continue without delay or scrutiny. Now that bill is passed - pay attention to what they use to distract us next. I'm a firmer believer that they don't want the system fixed. It is too profitable.

Tony Blair took a job in an "advisory" capacity with JP Morgan to the tune of 500,000 a year when he left the job as Prime Minister.

So this isn't really a surprise.

The first law that his government passed when they came into power - his wife has since made about £10,000,000 from this law.

He's a money grubber, who wants to be seen as a saint.

Hence the "role" as middle east envoy.

If the irony didn't smell so bad, it would be funny...

added bill murphy's testimony.

In the end this will really just show how much special interests control the US government. The 'regulators' will probably do nothing considering that JPMorgan was among the top campaign contributors to McCain and Obama.

The system is broken.

[edit on 26-3-2010 by xConspirator]

reply to post by mnemeth1


It's not just precious metals but non-ferrous metals also being manipulated! Aluminum, brass, all the expensive alloys are being played with.

Zindo

JP Morgan knows where the bodies are buried because they helped the US government manipulate the gold market for 40+ years.
The US government is still manipulating the gold market through federal regulations on mining and environmental laws along with the state government support.

As long as JP Morgan does nothing that opposes the US government manipulation the government will not do a thing to stop them.

In fact the government is likely helping them as part of the government manipulation plan.

i give it ten years and gold mining will be banned in the US.
its already banned in large parts of calif.
www.siskiyoudaily.com...

This law was to protect salmon even though over 60% of the rivers they banned dredging on never had salmon in them and about 20% do not even flow into the pacific they flow into the great basin deserts.
the dams on the rivers in Calif like the Folsom dam and the dam at shasta lake and others block more salmon then the gold dredgers will ever kill.

I doubt even this exposure will result in an end to the manipulation. It will continue until, at the minimum, the dollar currency crisis occurs with the corporate entity the UNITED STATES defaulting on its mathematically unpayable debt.

The dollar will eventually return to its intrinsic value of zero.

Buy physical metal and hold physical metal.

Holding physical metal will be the only way to transport wealth through the currency collapse and subsequent chaos to be experienced in the US within the next 2-5 years.

it's worse than that....come on, you guys...you don't see the big picture. i'm a currency market trader and i have gotten to actually trade in years. instead what my system uses is knowledge of how the market operators game works. see, that's not really trading. but i clobber the moves. research the "carry trade"

i believe the whole stock market to be a scam. because it is.
companies and investors cannot make money this way. it means you theoretically don't need an actual business, you just need people investing.
So I can start a company, and sell stock on the market, and you can buy it forcing it to go up, but it doesnt mean my company is doing anything. and then I could bail out of the market and investor lost all their money. its bogus.
It was a scam to influence people to give money. do it, you'll own a piece of my beautiful company. oh but btw if you wanna take back your investment theirs going to be a fee.

Inside Trading: Congress for sale

After this generation's corporate scandals, Congress passed Sarbanes-Oxley in 2002 to improve corporate governance and audit independence. But one of the measures added reporting requirements and tougher standards for insider trading. Unfortunately, Congress forgot itself. It remains perfectly legal for a member of Congress to buy and sell stocks based on information that's not available to the public. Last year it was reported that a "political intelligence" firm tipped off its clients to an undelivered speech by Senate Majority Leader Bill Frist on asbestos liability. The information was profitable to those in the know. "This is simply wrong that members of Congress can exchange information ... and get rich on it," says Rep. Brian Baird, D-Wash., who is co-sponsor of a bill to prohibit insider trading by members of Congress and their staffs.

www.seattlepi.com...

Not only do they control the markets and the population but a select few are able to legally get rich off of it by further enslaving the populace. The system is indeed a grand show for the masses.

Originally posted by mnemeth1
From my personal blog I would say Jesus H Christ must be real based on the fact that the US isn’t a smoking hulk of ruin right now...

Nah, makes perfect sense really. These people may be a couple notches lower than peodophiles but they're not stupid. If they completely tank the country their gravy train will derail. They keep us on life support so they can continue to rape us. Plain and simple. I'm sure the regulators will take care of things and bring them to justice...

yeah right...

Originally posted by ANNED
This law was to protect salmon even though over 60% of the rivers they banned dredging on never had salmon in them and about 20% do not even flow into the pacific they flow into the great basin deserts.
the dams on the rivers in Calif like the Folsom dam and the dam at shasta lake and others block more salmon then the gold dredgers will ever kill.

This is great. Just great. Good lord.

Originally posted by merkaba93
I doubt even this exposure will result in an end to the manipulation. It will continue until, at the minimum, the dollar currency crisis occurs with the corporate entity the UNITED STATES defaulting on its mathematically unpayable debt.

Its like they enjoy being "exsposed" just to measure how passive people are and to let us know they are in control.

Soon they will be craping on our heads and laughing about it.

Originally posted by Myendica
i believe the whole stock market to be a scam. because it is.
companies and investors cannot make money this way. it means you theoretically don't need an actual business, you just need people investing.
So I can start a company, and sell stock on the market, and you can buy it forcing it to go up, but it doesnt mean my company is doing anything. and then I could bail out of the market and investor lost all their money. its bogus.
It was a scam to influence people to give money. do it, you'll own a piece of my beautiful company. oh but btw if you wanna take back your investment theirs going to be a fee.

Three quarters of everything you wrote is false.

reply to post by GreenBicMan


o yea? your so smart . maybe perhaps its because Im not a con artist investor. but yea im pretty right. the stock market is not a reasonable way of actually gaining value. it is in its simplest form, a scam. You don't have to see it my way, it is just an opinion after all. O and I have made killings in the market, and most of it was based on recognizing fixes and scams. good times.