J.P Morgan, the ultimate *ankers of 2010

J.P Morgan, the ultimate *ankers of 2010

From: http://economicassassin.blogspot.com/2010/12/jp-morgan-ultimate-ankers-of-2010.html

In December of last year (2009) I reported that the silver market was being manipulated, this came after the Federal Reserve’s eagerness to bail out Bear Stearns and the coincidental rise in price of silver to $21 an ounce the day that Bear Stearns eventually collapsed, I believe this was a direct consequence of Bear Stearns having to cover their short position on silver.

The contracts that Bear Stearns once held on silver have now been taken over by J.P Morgan, allowing them complete control on the paper price on silver which was illustrated weeks after the acquisition when the price in silver dropped to only $9 an ounce, which I believe was manipulated using the technique known as ‘naked short selling’ – this is when a company sells a security in a hope to buy the same security back at a lower price when all the while, never actually owning the security.

In this case JP Morgan were selling paper contracts that were not backed by any physical silver, it is completely fraudulent, yet the mainstream news publications have not once picked up to it until now, and even still they are not grasping the full extent.

Andrew Maguire, an independent precious metals trader reported that, “there was fraud taking place in the silver market.” Andrew then passed the information onto one of the CFTC’s (Commodities Futures Trading Commision) investigators in the enforcement division; the information was that there was going to be a “manipulative event” on February 5th.

The ‘manipulative event’ was to be the price of silver dropping below $15 per oz, and so, on February 5th, the price of silver took another sharp decline from $16.17 down to $14.62.

Despite Maguire’s accurate prediction, none of his information was ever commented on, nor was he allowed to speak about JP Morgan’s position on Silver at an annual CFTC meeting, of which he was previously a part of.

Now, this blog is not about conspiracy theories, however. Shortly after the CFTC meeting that Maguire was removed from, he and his wife were involved in a hit-an-run ‘accident’ – Had Maguire finally rattled the cages of the multi-trillion dollar financial terrorists? That is up for discussion.

As it all becomes clear to you of what is going on in the silver market, which compared to the Gold market is a much smaller, more concentrated market, which allows it to manipulated with relative ease, you must be aware that the same is going on in the Gold market, but due to the massive market for gold it is much less noticeable.

So, why are the regulators not doing anything or even speculating that there is unfair play going on? I am confident that they ARE aware of the carrying on of Wall St and other major banks, but, while the prices of both of the precious metals are contained/manipulated they are benefiting the U.S Dollar by making it look a lot stronger than it actually is.

If the markets were ‘free’ and we saw an explosion of the metals’ prices (which is what would be happening were it not for the fraudulent manipulation) than the U.S Dollar would be the latest fiat currency to collapse, becoming the victim of hyperinflation.

In recent events, Jeffrey Christian who is the apart of the CPM group (a commodities and research group) told the CFTC that banks were using the age old system of fractional reserve banking to leverage their position on Gold and Silver by 100/1.
This means that for up to ONE HUNDRED contracts of gold and silver they’re might only be ONE ounce of the metal backing it.

That is completely ludicrous and all Christian had to say about it was, ‘it has been that way for years’ and when questioned about the ways in which those banks will settle the contracts he said ‘There's a number of different mechanisms allowing for cash settlements”- Really? I would love to know what they are.

And, to add insult to injury for the person(s) who assumes they own the silver/gold not just 1/100th of it, they are all paying storage fees for the commodity.

The only silver lining in this corruption is that, when the time comes and the world discovers the actual value (or lack of) of US Dollars, they will not be willing to accept a cash settlement for their contracts, they will rather have the physical metal, the bank’s will then have to come clean and with most of banks being extremely exposed to the market, they will be left no other option other than crashing.

A man that is working tirelessly to expose what he refers to as ‘Financial Terrorists’ and I agree implicitly with him is Max Keiser.

He has long been a voice of reason and truth, he is also the man behind “Buy silver, crash JP Morgan” campaign, one that I am glad to be a part of.

Also, behind every great man, there is an even better women, Stacey Herbert is a political analyst on the Max Keiser report who is also working relentlessly to uncover the truth.

Many thanks to the both of them.

Graham Sharkey