Fraud* According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage".[1] In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain *As defined in Wikipedia
ADDITIONAL STATEMENT BY BILL MURPHY, CHAIRMAN OF THE GOLD ANTI-TRUST ACTION COMMITTEE
HEARINGS ON THE METALS MARKETS, MARCH 25, 2010
On March 23, 2010 GATA Director Adrian Douglas was contacted by a whistleblower by the name of Andrew Maguire. Mr. Maguire, formerly of Goldman Sachs, 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 bragged how they make money doing so.
In November 2009 he contacted the CFTC enforcement division to report this criminal activity. He described in detail the way in which JPM signals to the market its intention to take down the precious metals. Traders recognize these signals and make money shorting the metals along side JPM. He 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 other adhoc events. On February 3 he gave two days advance warning by email to Mr Eliud Ramirez, a senior investigator of the Enforcement Division, that the precious metals would be attacked upon the release of the non-farm payroll data on February 5. Then on February 5 as it played out exactly as predicted further emails were sent to Mr. Ramirez in real time while the manipulation was in progress.
It would not be possible to predict such a market move in advance unless the market was manipulated.
In an email on that day Mr. Maguire said "It is 'common knowledge' here in London amongst the metals traders 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 allowing by your own definition an illegal concentrated and manipulative position to continue"
Expiry of the COMEX APRIL call options is today. There was large open interest in strikes from $1100 to $1150 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 in advance by GATA the manipulation started on March 19th when gold was trading at $1126. By last night it traded at $1085.
This is how much the gold cartel fears the enforcement division. They thumb their noses at you because in over 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.
It is an outrage and we are making available the emails from our whistleblower, Andrew Maguire available to the Press wherein he warns in advance of a manipulative event.
Additionally Mr. Maguire informed us that he has taped recordings of his telephone communications with the CFTC for which we are taking the appropriate legal steps to acquire.
Imagine what would cause a guy like this to write his good bye?
Today Americans are ruled by propaganda. Americans have little regard for truth, little access to it, and little ability to recognize it.
Truth is an unwelcome entity. It is disturbing. It is off limits. Those who speak it run the risk of being branded “anti-American,” “anti-semite” or “conspiracy theorist.”
Truth is an inconvenience for government and for the interest groups whose campaign contributions control government.
Truth is an inconvenience for prosecutors who want convictions, not the discovery of innocence or guilt.
Truth is inconvenient for ideologues
Wherever one looks, truth has fallen to money.
Wherever money is insufficient to bury the truth, ignorance, propaganda, and short memories finish the job.
These trillion dollar wars have created financing problems for Washington’s deficits and threaten the U.S. dollar’s role as world reserve currency. The wars and the pressure that the budget deficits put on the dollar’s value have put Social Security and Medicare on the chopping block. Former Goldman Sachs chairman and U.S. Treasury Secretary Hank Paulson is after these protections for the elderly. Fed chairman Bernanke is also after them. The Republicans are after them as well. These protections are called “entitlements” as if they are some sort of welfare that people have not paid for in payroll taxes all their working lives.
Thank you Anonymous. Both of those links are good articles. While I may not agree completely with some of what Paul Roberts says, I certainly agree with this statement: "The American corporate media does not serve the truth. It serves the government and the interest groups that empower the government." Americans hear very little truth nowadays. It certainly appears the the road to serfdom is upon us but for the life of me, I cannot figure out WHY they think this is a good idea. Pissing off a nation of fools with guns is not a good idea. Sure, the rich can escape to other countries when/if the shit should hit the fan but they must not realize that they will be hunted down there as well. If Rush or Beck thinks they can escape to Costa Rica and live happily ever after, they are sadly mistaken. Having spent a fair amount of time there in the underbelly of that country, they have no clue as to what is in store for them. They might be able to wall themselves up in some compound in the US but what a sad life that would be, unable to leave your mansion for fear of your life. Some billionaires like Bill Gates have seen the light and are working towards solving the disparities of classes. For the others....good luck with that plan!
On March 25th at the CFTC Public Hearing on Precious Metals GATA made a dramatic revelation of a whistleblower source, Andrew Maguire, who has first hand evidence of gold and silver market manipulation by JPMorganChase and who has even tipped off the CFTC in advance of manipulative attacks on gold and silver. Just as in the Madoff case the regulator has done nothing to stop such manipulation.
On March 26th while out shopping with his wife, Mr. Maguire's car was hit by a car careening out of a side road. The driver of the vehicle then tried to escape. When a pedestrian eye-witness attempted to block the driver's escape he accelerated at him and would have hit him had the pedestrian not jumped out of the way. The car then hit two other cars in escaping. The driver was apprehended by the police after police helicopters were called in and following a high speed chase.
Andrew and his wife were hospitalized with minor injuries. They were discharged from hospital today and should make a full recovery.
note: You have to be kidding me ... Another Coincidence!
7 COMMENTS:
ADDITIONAL STATEMENT BY BILL MURPHY, CHAIRMAN OF THE GOLD ANTI-TRUST ACTION COMMITTEE
HEARINGS ON THE METALS MARKETS, MARCH 25, 2010
On March 23, 2010 GATA Director Adrian Douglas was contacted by a whistleblower by the name of Andrew Maguire. Mr. Maguire, formerly of Goldman Sachs, 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 bragged how they make money doing so.
In November 2009 he contacted the CFTC enforcement division to report this criminal activity. He described in detail the way in which JPM signals to the market its intention to take down the precious metals. Traders recognize these signals and make money shorting the metals along side JPM. He 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 other adhoc events. On February 3 he gave two days advance warning by email to Mr Eliud Ramirez, a senior investigator of the Enforcement Division, that the precious metals would be attacked upon the release of the non-farm payroll data on February 5. Then on February 5 as it played out exactly as predicted further emails were sent to Mr. Ramirez in real time while the manipulation was in progress.
It would not be possible to predict such a market move in advance unless the market was manipulated.
In an email on that day Mr. Maguire said "It is 'common knowledge' here in London amongst the metals traders 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 allowing by your own definition an illegal concentrated and manipulative position to continue"
Expiry of the COMEX APRIL call options is today. There was large open interest in strikes from $1100 to $1150 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 in advance by GATA the manipulation started on March 19th when gold was trading at $1126. By last night it traded at $1085.
This is how much the gold cartel fears the enforcement division. They thumb their noses at you because in over 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.
It is an outrage and we are making available the emails from our whistleblower, Andrew Maguire available to the Press wherein he warns in advance of a manipulative event.
Additionally Mr. Maguire informed us that he has taped recordings of his telephone communications with the CFTC for which we are taking the appropriate legal steps to acquire.
Oh...no Hu....it seems China will let the swine flu into it's country..the $ to get in must be huge!
Goldman Sachs' Hu may join China central bank
http://tinyurl.com/y93po9k
Imagine what would cause a guy like this to write his good bye?
Today Americans are ruled by propaganda. Americans have little regard for truth, little access to it, and little ability to recognize it.
Truth is an unwelcome entity. It is disturbing. It is off limits. Those who speak it run the risk of being branded “anti-American,” “anti-semite” or “conspiracy theorist.”
Truth is an inconvenience for government and for the interest groups whose campaign contributions control government.
Truth is an inconvenience for prosecutors who want convictions, not the discovery of innocence or guilt.
Truth is inconvenient for ideologues
Wherever one looks, truth has fallen to money.
Wherever money is insufficient to bury the truth, ignorance, propaganda, and short memories finish the job.
These trillion dollar wars have created financing problems for Washington’s deficits and threaten the U.S. dollar’s role as world reserve currency. The wars and the pressure that the budget deficits put on the dollar’s value have put Social Security and Medicare on the chopping block. Former Goldman Sachs chairman and U.S. Treasury Secretary Hank Paulson is after these protections for the elderly. Fed chairman Bernanke is also after them. The Republicans are after them as well. These protections are called “entitlements” as if they are some sort of welfare that people have not paid for in payroll taxes all their working lives.
http://counterpunch.org/roberts03242010.html
Thank you Anonymous. Both of those links are good articles. While I may not agree completely with some of what Paul Roberts says, I certainly agree with this statement:
"The American corporate media does not serve the truth. It serves the government and the interest groups that empower the government."
Americans hear very little truth nowadays. It certainly appears the the road to serfdom is upon us but for the life of me, I cannot figure out WHY they think this is a good idea. Pissing off a nation of fools with guns is not a good idea. Sure, the rich can escape to other countries when/if the shit should hit the fan but they must not realize that they will be hunted down there as well. If Rush or Beck thinks they can escape to Costa Rica and live happily ever after, they are sadly mistaken. Having spent a fair amount of time there in the underbelly of that country, they have no clue as to what is in store for them. They might be able to wall themselves up in some compound in the US but what a sad life that would be, unable to leave your mansion for fear of your life. Some billionaires like Bill Gates have seen the light and are working towards solving the disparities of classes. For the others....good luck with that plan!
On March 25th at the CFTC Public Hearing on Precious
Metals GATA made a dramatic revelation of a whistleblower source, Andrew Maguire, who has first hand evidence of
gold and silver market manipulation by JPMorganChase and
who has even tipped off the CFTC in advance of manipulative attacks on gold and silver. Just as in the Madoff case the regulator has done nothing to stop such manipulation.
On March 26th while out shopping with his wife, Mr.
Maguire's car was hit by a car careening out of a side
road. The driver of the vehicle then tried to escape.
When a pedestrian eye-witness attempted to block the
driver's escape he accelerated at him and would have hit
him had the pedestrian not jumped out of the way. The
car then hit two other cars in escaping. The driver was apprehended by the police after police helicopters were
called in and following a high speed chase.
Andrew and his wife were hospitalized with minor injuries.
They were discharged from hospital today and should make
a full recovery.
note: You have to be kidding me ... Another
Coincidence!
Do we have laws anymore in this country? Do they ever get enforced on those that pull off the big crimes? If so, name one....
Former Goldman Commodities Research Analyst Confirms LMBA OTC Gold Market Is "Paper Gold" Ponzi
http://tinyurl.com/ygjjcpv
A few quotes that provide food for thought...
“Paper money eventually returns to its intrinsic value – zero”
“The art of medicine consists in amusing the patient while nature cures the disease.”
“Judge a man by his questions rather than by his answers”
“It is dangerous to be right in matters on which the established authorities are wrong”
“Every man is guilty of all the good he didn’t do”
Voltaire
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