The lawsuit completely exposes JPMorgan's silver manipulation from insiders' perspectives for ALL TO SEE.
We're talking your wife streaking on the field during the opening kick-off of the Super Bowl type of exposure.
We will have more on this HUGE breaking development later this afternoon or this weekend.
For now, please read the complaint in its entirety.
Factual allegations begin with point 30, with
Substantial allegations beginning with point 55 on page 27.
Point 68 discusses JP Morgan's acquisition of Bear Sterns' massive short silver position.
Point 93 names Robert Gottlieb as the individual who developed Bear Sterns' massive short silver position, along with assistance from HSBC silver trader Mike Connolly
Point 118 also names Chris Jordan from JP Morgan selling massive amounts of silver puts at enormous profits
Point 95 details how JP Morgan profited by $150 Million dollars with EACH dollar decline in the price of silver.
11-09-12 FINAL Consolidated Class Action Complaint
A little classic Cash comes to mind....
Well you may throw your rock and hide your hand
Workin' in the dark against your fellow man
But as sure as God made black and white
What's done in the dark will be brought to the light
You can run on for a long time
Run on for a long time
Run on for a long time
Sooner or later God'll cut you down
Sooner or later God'll cut you down
Go tell that long tongue liar
Go and tell that midnight rider
Tell the rambler, the gambler, the back biter
Tell 'em that God's gonna cut you down
Tell 'em that God's gonna cut you down
Tell 'em that God's gonna cut you down
Workin' in the dark against your fellow man
But as sure as God made black and white
What's done in the dark will be brought to the light
You can run on for a long time
Run on for a long time
Run on for a long time
Sooner or later God'll cut you down
Sooner or later God'll cut you down
Go tell that long tongue liar
Go and tell that midnight rider
Tell the rambler, the gambler, the back biter
Tell 'em that God's gonna cut you down
Tell 'em that God's gonna cut you down
Tell 'em that God's gonna cut you down
26 comments:
BOOM! We have lift-off!
Silver is the most important metals. More than 60% has gone forever, the industry has consumed and not recycled, a lot of silver already lost and can not be recovered. Today 90% of electronic equipment now produced using silver, and only produce 10 ounces of silver to 1 gold. Most silver has been consumed and it is absurd that the ratio of trading in gold is 1 to 42, the price ratio should be 1 to 5, of course there is manipulation. And millions of people store it as money. It is stupid to think that silver can be kept below $ 50 for long time. Accumulate physical silver is big business. have already said several experts: Jim Rogers, Robert Kiyosaki, Hugo Salinas Price, Mueller Marion, Michael Maloney, James Turk, Ted Butler, and so on.
A call to the CEO of JP Morgan, do not be fooled, accumulate physical silver and earn lots of money.
Going after the morgue! Love it!
wow,very interesting indeed...this might bring alot of attention to the silver market and alot of credibility to the fact that there is a massive short position that will at some point need to be covered.
silver short squeeze past $52 soon?
Sadly, the lawsuit will be laughed off and nothing will change. Remember the courts are also corrupt.
Or.....They will settle out of court for pennies on the dollar.
The entire system is so massively corrupt that its impossible to see a positive outcome!
Remember that the FED, exchanges etc., all want silver to be low.
Sickening!
"Remember that the FED, exchanges etc., all want silver to be low."
Ok, but the industry consumes a lot of physical silver, and millions of savers buy physical silver (China, India, USA, Russia). And there is not much silver in the mines. So the demand for physical metal will soon make the price go up much.
Holy shit! I did't know they were making that much money on silver going down. The morgue also makes 5 billion a year with their issuance of food stamp cards. Their just plain old, disgusting, low lifes who need to be behind bars.
"...in the commodity futures market, more than 99% of the contracts do not result in delivery... of the commodity."
Could someone please explain then why the 'spot' price for a physical commodity is driven and dictated by the futures price that is just traded around back and forth by people sitting in front of computers? Physical supply and demand should dictate commodity prices, not trading of fictitious commodity 'futures'!
I hope this leads somewhere but, alas, I agree with Silvergood. The system is corrupt and beyond redemption. It will be bread and circuses and then a slap on the hand and a small fine.
The more insidious part of this is that if the morgue gets of easily with a light punishment, it will be a field day with silver manipulation. The presidence will have been set and corruption will continue.
If the morgue gets off scott-free, well, you might as well sell your silver since the corrupt system just informed you that they will do whatever they like with hard, real money. And you will just sit there and take it.
I wouldn't cheer about this development just yet.
I hope I'm wrong.
Silvergood and anonymous completely miss the implications of this suit.
Whether or not JP Morgan is found liable in a court of law for their fraud, the manipulation has been exposed for all to see, and gives much more credibility to those such as The Doc discussing silver manipulation.
The free market and the impending massive physical shortage of silver is what will destroy the cartel, JP Morgan, HSBC, and the silver shorts, not any action by the CFTC or a court of law.
Silver price suppression can no longer be dismissed as a conspiracy theory, and when major hedge funds and institutional money flows become aware of the price suppression via news such as this suit, new funds will be diverted from paper assets into physical silver.
THIS is the game changer.
Sell your silver if you like, and turn back into a sheeple.
-Doc
JP Morgan is the unofficial bank of the US Government, do people really think this wil go the way of the little man???
Doc is completely right. Obviously not everyone invested in silver for the right reason. I invested because of the inevetible massive shortage. If you guys didn't know about it you do now. Silvergood: You are hard headed and haven't picked up much of anything I or anyone else has said. To anonymous at 2:25 it's more like 95% of the silver ever mined is gone forever. The shortage will be unlike anything in history. I don't gives a fuck what the price does until then.
Great news, thx Doc ;-)
And you couldn't of picked a better song to go with the news!
JP Morgue also handles all the accounts and debit cards for unemployment payments when the Dept of Labor was outsourced to Morgue.
In the pervasively corrupt system we have, the only way to bring the banks to accountability is for Americans to have a grass roots class action boycott- a debt moratorium- withholding all credit card debt repayments for 90 days minimum or until justice is served. Debt strike. All citizens would then be activated and benefit- not just PM holders- whose numbers are too small to concern the average joe.
Vote with your dollar by withholding it.
What will sink the morgue and the silver price fixers in the USA is 2 billion Asians each buying one ounce, ten ounces ... ten million ounces of PHYSICAL silver. It is coming soon.
40 bucks is dirt cheap.
All commodities are manipulated, soon the diseased, tired, poisoned, infirm and wornout peoples of the west will revolt or perish, paper assets world wide are in jeopardy, physical assets such as residing in your real estate and physical silver will be important!
usury is following its historical imperative
Doc
Thank you for you elucidation in this comment section, and I do generally get the concept you describe, but I do have a question.
It is my understanding that many if not most of these "funds" and institutional investors are structured in such a way as to make it darn near impossible to invest in, and especially take delivery of, physical. I, for example, hold out absolutely no hope that my pension managers with be in physical by any time that it would matter anymore. So I just make personal adjustments accordingly.
Is this so, and if so, what will it take to change this?
And could this move us into the beginning of phase three already?
Ennis
Just curious: Is there anyone here who bought a pallet of silver for $2?
http://dl.dropbox.com/u/1380448/silver-in-us-dollars-over-time.jpg
Really unbelievable to see what amount you would have bought in the past.
This will change nothing. The Morgue will only get a fine, and will continue doing the same thing. Silver will never go above $45.00/oz.
I am from Malaysia ,some of you may not have heard about it but we along with 1B ++ in China n India are hoarding the physical silver.Go ahead dump your phys...
There's nothing like sharks smelling blood in the water and this time it's JPM's blood.
Ennis- no, I do not believe this is the start of Phase 3 yet- the average Joe is still nowhere near entering the silver market. This could well provide an acceleration to phase 2 however, with the smart money quickly joinging the bull.
Doc
Thank You.
Ennis
Phase one has been done for a while now, Doc. Stage 1 is a stealth phase of a secular bull. We are in PHASE 2, already having received the media coverage necessary to confirm stage 2. (NOTE: The negative connotation of said coverage will just add to the upside explosive potential.)
Having said that, I think it is a good possibility that phase 2 could be just as long in time duration as phase one! I would also vote without hesitation that we are nearer to the beginning of stage two, not the end.
I can agree too.. While we have seen a pickup in physical dealer volume.. we have a very long way to go still, as the average joe is still pretty far removed from this market.
my parents bought gold for about $30/ozs, my grandparents bought Gold for about $3, I am happy to have bought silver for $16.50and gold for about $950 good sleep medicine.
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