Silvergate - Precious Metals Price Manipulation Whistleblower Revealed By GATA

Video of Bill Murphy, Chairman of GATA, revealing a whistleblower source(Andrew Maguire) who has warned the CFTC Enforcement Division of market manipulation by JPMorganChase in advance of it happening and witnessed JPM traders bragging of their exploits can be viewed here.




Murphy explained that despite the Enforcement Division receiving detailed information in December 2009 the manipulation continues unabated as can be seen by the way gold was taken down this week to rob holders of April gold call options in the strike range of $1100-$1150 as the hammering made them expire worthless.




GATA believes that this new evidence and smoking gun will be a watershed event in liberating the gold market from its shackles of price suppression.




As dramatic as this revelation was at the CFTC hearing there was another bombshell exposure during the hearing. This was the testimony that GATA Board member, Adrian Douglas, was able to deliver during the hearing while assisting Harvey Organ with his testimony. Adrian was able to introduce arguments that the London Bullion Market Association (LBMA) OTC gold market is nothing but a massive paper gold Ponzi scheme. What was then astonishing is that the bullion bank apologist, Jeffery Christian, of CPM Group, who has always been staunchly against GATA endorsed Adrians comments as being exactly right and went on to confirm that the LBMA trades over 100 times the amount of gold it actually has to back the trades.




There were lots of almost as equally explosive admissions so I have taken the time to make a transcript of the relevant section of the webcast. I have posted the two short video clips
ideo of Bill Murphy, Chairman of GATA, revealing a whistleblower source who has warned the CFTC Enforcement Division of market manipulation by JPMorganChase in advance of it happening and witnessed JPM traders bragging of their exploits can be viewed here.




Murphy explained that despite the Enforcement Division receiving detailed information in December 2009 the manipulation continues unabated as can be seen by the way gold was taken down this week to rob holders of April gold call options in the strike range of $1100-$1150 as the hammering made them expire worthless.




GATA believes that this new evidence and smoking gun will be a watershed event in liberating the gold market from its shackles of price suppression.

As dramatic as this revelation was at the CFTC hearing there was another bombshell exposure during the hearing. This was the testimony that GATA Board member, Adrian Douglas, was able to deliver during the hearing while assisting Harvey Organ with his testimony. Adrian was able to introduce arguments that the London Bullion Market Association (LBMA) OTC gold market is nothing but a massive paper gold Ponzi scheme. What was then astonishing is that the bullion bank apologist, Jeffery Christian, of CPM Group, who has always been staunchly against GATA endorsed Adrians comments as being exactly right and went on to confirm that the LBMA trades over 100 times the amount of gold it actually has to back the trades.

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[Horoist]

keep on manipulating, I am still buying!!

[raypsi]

where's bernie maddoff when you need heem?

[iiiiTiger]

@dongle1975 ... No, the allegation is that they are suppressing the price of silver, and profiting on its manipulation. The problem for JPMorgan is that they have too many paper contracts sold that aren't truly backed by physical silver. Pretty much the fractional reserve system at work.. anyways, if everyone were to demand the physical instead of the paper, they would have to compensate.. somehow.. because they don't have it.

[iiiiTiger]

2 and a half years after investigation, you think they'd have something, anything to release by now. Out with it already, is there proof that we can get OUR hands on? Or not?

[mtube620]

@Horoist same here.

[MORCOPOLO0817]

That blond guy needs a haircut!

[EMPIRE0FLIES]

Asks for specifics and jokes at the end that it is more specific than anticipated. I think that commisioner should leave the jokes to comedians and get a haircut! This is no joke dumbass!!!

[MichaelRMcCoy]

Some of the most clever, devious and underhanded persons imaginable are the Grand Manipulators -- the money changers -- and precious metals and gems offer yet another way for these parasites to suck the blood from unsuspecting victims.

[nesNYC]

@dongle1975 No, the opposite. Silver and gold will rise experientially once investors figure out their certificates are only worth 1/100 the value they were. This might well implode the dollar as it was propping up the dollar that instigated this fraud.

[lilbitparanoid]

The world will never be the same.

[lilbitparanoid]

Perfect title!

[geocom75]

Take possession NOW