Part 88 to be exact. "88. Between 1996 and 2000, Robert Gottlieb, Christopher Jordan and Michael Connolly worked together at the Precious Metals Trading Desk of HSBC and at Republic National Bank of New York, prior to its acquisition by HSBC. 89. In 2006, Jordan began his employment at JP Morgan where, until 2010, he was one of JP Morgan’s principal COMEX silver futures and options traders. 90. After a brief stint at Bank of America as a commodities trader, Mike Connolly returned to HSBC in 2007, where he served as Senior Vice President of HSBC’s Precious Metals Desk. 91. In March 2008, Robert Gottlieb began his employment at JP Morgan Chase where he presently serves as a Managing Director/Trader. 92. Prior to JP Morgan’s acquisition of Bear Stearns in 2008, Mr. Gottlieb had worked for Bear Stearns from January 2006 forward. 93. Bear Stearns, through Robert Gottlieb and others, had developed the previously alleged large Bear Stearns short position in COMEX silver futures prior to March 17, 2008. 94. Contrary to standard antitrust compliance manuals, Mr. Gottlieb regularly spoke to, and communicated and met with HSBC silver trader Mike Connolly from the time that Mr. Gottlieb joined JP Morgan until at least October 2010."
Click here...
Does anyone think that this will stick? Could this be the "Big One"?
ReplyDeleteCongrats to SGS for over 1.6 MILLION page views! Im at 92. I'll catch up soon...
ReplyDeleteA few scapegoats will go to jail, JPM will pay a hundred or two million in fines with taxpayer's free bailout money and the system will continue to favor the top 0.1%, until it doesn't potentially. At least the clowns aren't going to be smiling during this circus...
ReplyDeleteThis should be the big one but we'll see whether they just get a wrist slap or get some real punishment. I want to see the derivatives blow sky high so I can cash out and head for the hills...
ReplyDeleteShazaammmm!!!! This will be interesting.
ReplyDeleteDon't Miss Out as Silver Prices Surge to
ReplyDelete$150 an Ounce
"Silver prices had an exciting run-up in the year ending in April - they almost tripled, briefly touching $50 an ounce before settling back down to the low $30s.
Now, silver prices are back above $40 an ounce. That may have you feeling the urge to sell - but don't.
Resist the temptation to sell silver because this recovery is for real, and it has much further to go.
In fact, I anticipate silver prices will peak at $150 an ounce within the next 12-18 months.
The reason is simple: With central banks around the world pushing lax monetary policies, prices for all commodities - gold and silver in particular - will invariably rise.
We've already seen this happen with gold hitting a record high $1,923.70 an ounce on Sept. 7. And when gold goes higher, silver quickly follows.
That's reflected in something called the "gold/silver ratio," which shows how many ounces of silver it takes to buy one ounce of gold. Traditionally, this ratio acts as a price barometer for the two precious metals. And if you look at it right now, it's easy to see that $150 silver isn't far in the offing.
Read the rest here: http://moneymorning.com/2011/09/16/dont-miss-out-as-silver-prices-surge-to-150-an-ounce/
HSBC Dropped From Lawsuit on Silver-Price Manipulation
ReplyDeleteNEW YORK—HSBC Holdings PLC is no longer named as a defendant in a civil lawsuit that alleges widespread manipulation of the silver market, though the filing shows the sides may be attempting to negotiate outside of court.
The amended lawsuit, filed by individual silver investors, names J.P. Morgan Chase & Co. as the sole defendant. The lawsuit alleges the bank amassed an unfairly large position in silver futures and then used its position to drive down prices of silver and increase its own profits.
A J.P. Morgan spokesman declined to comment.
http://online.wsj.com/article/SB10001424053111903927204576572632689573902.html
If silver peaks at $150 it will only be WITHIN that time frame.
ReplyDeleteThe price of silver will NEVER stop rising as long as mankind needs it.
Capiche?
@DM
If anyone goes to jail will it be business as usual? What trader will now take on risk for their company with those kinds of stakes?
@Finn: you'd be surprised. You can find a whore on just about every corner.
ReplyDeleteThanks Finn,
ReplyDeleteThere have been a number of "traders" sent to jail over the last decade, greed and "success" still dictate that the risks are worth taking apparently given this latest JPM thing... Unless these guys are all such psychopaths that they all truly believe they are acting honorably. Or are they just following their mandate within these organizations not ever suspecting they're going to be accused/lynched/sacrificed/scapegoated for their actions eventually? I don't know but I predict nothing significant will come from this. It is, however, a step in the right direction in slowly changing perceptions at large. IMHO
@Ledbedder....
ReplyDeleteI know but there has been no real risk for 30 years. All these guys know that the "con is on" and the FBI is overwhelmed...
Anyone else listen to that interview between Puplava and William Black? There's no interest in prosecuting these guys.
But like this JPM case, it may not be avoidable. It may not CHANGE the game but the players will be put off and the game will change.
We'll see.
Allow me to clarify, the players may change their game. The actors inside of the organizations. The organizations will always remain breeding grounds for the next sociopath.
ReplyDeleteI think these bankers already have an exit strategy from the naked silver short scandal: Just call USGovt in and declare it as part of currency intervention. No one calls SNB intervention of Swiss Franc or Japan's intervention of Yen illegal manipulation, correct?
ReplyDeleteThe same fallback plan could be used to get the bankers off the hook but that's the last resort. The last thing USGovt and Fed want is openly admitting that gold and silver are indeed an honest form of currency, and they are intervening in the market to prop the FIAT trash up. So this case will drag on as long as possible until the inevitable day that we are forced to go back to a hard money system.
I got this idea from a good article by Hugo Salinas BTW.
This comment has been removed by the author.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteLOL, fuck all that blathering, what's the stock? ;)
ReplyDeleteDM - I dunno... I dont fuck with digital paper... only the phyzz my friend. I'll let it play in the backround for the next few hours, and I'll let you know if he says it.
ReplyDeletefuckin pyramid scheme... "... for a low payment of $999.00 , your report on this stock will be emailed to you... blah blah blah..."
ReplyDeleteIt could be these guys... Its the only thing I could find.
ReplyDeletehttp://oil-and-gas-post.blogspot.com/2011/09/ivanhoe-mobilizes-rig-for-2nd-mongolia.html
Your buddy Wynter_Benton just posted an update:
ReplyDeleteLess than 20 days to go and silver is not below $36 16-Sep-11 01:59 pm The derivative bomb will go off in less than 20 trading days and silver does not seem like it will be below $36.
According to sources out of Greece, G-Pap has told Merk and Sarko that Greece will default in an orderly ("controlled") manner in return, Merk and Sarko won't force them out of the euro. The announcement of the default will come before the end of September. They needed the Fed's liquidity swaps to smooth things over when Greece announce the default.
As for this week, we are going to run silver like we did when the Fed made their QE2 announcement less year in November. If you recall, AGQ was below 100 on the Wednesday of the announcement and on the following Tuesday, AGQ hit 147 for the intraday high. That sort of run is coming for silver.
And take a look at KWN, it's all over for The Morgue. We told you long ago their JPM had rats and mole deep inside. Now they will be turning state's evidence.
........do da, do da...........
Yeah, Ivanhoe Energy...
ReplyDelete"While the testing of our first well did not encounter oil shows in the reservoir..."
Doesn't this contradict what the guy in the sales pitch said?
I thought that little film was nothing but bait to get screwed Highrise.
Are these same jerks the ones who are manipulating the mining stocks? I've got a couple hundred shares of First Majestic that only gained a little today and got killed yesterday, despite them just having a VERY good press release about their newest 43-151 in which they estimate yearly future silver production on a level with some of the bigger names like Pan American and Coeur d'Alene. They also estimated their future production cost per oz at only $4+ which for the silver mining industry is VERY good (most I've seen are around 6,7,8 dollars an ounce). They should have gotten at least a little bump out of that but nope. Got to be some shortsellin, eggsuckin dogs involved.
ReplyDeleteAGQ BABY! This thing is going to FLY!
ReplyDeleteThorfinnr: Yes, you'd better believe these are the same people manipulating the stocks. In the broader sense of "they", "they" are the ones manipulating everything, just each organ of the cartel has its own assigned sector. JPM and HSBC are the ones assigned to PMs and all things related, including options and stocks.
ReplyDeleteSGS--If I understand correctly you are in contact with some very influential people, not only in Canada and the US but in other parts of the world. If you could utilize those contacts, and maybe you are already doing this, to push this information into the mainstream, it could be very helpful. As you have noted the depth and breadth of information within this lawsuit are far reaching. Much more than a couple of names and situations.
ReplyDeleteThere is a great conversation at the end of the comments section on TFMetals among some Euro types that are going to contract Max and Stacy to push the story in Europe. Given your contacts it should help to push this story deeper and deeper into the mainstream, thereby, limiting the chances of this lawsuit being "settled". That would be the worse possible outcome. Just a thought, not trying to get into your business. Have a great weekend.
@MonkeySmoke: we ALL have to do our part. If you talk to anyone with more than 3 brain cells, start talking about fiat, silver, gold, manipulation, etc. You've got to watch facial expressions and body movements as far as how much you can give people (info.). SGS, Max, Schiff are just one person. The rest of us have to pick up the slack as well. One person at a time. You tell someone (and educate them), they tell someone that in turn tells someone, etc. etc. etc.
ReplyDeleteMonkey: These lawsuits are nothing new. Everyone knows about them. The difference between Europe and AMerika is that Europeans will light there entire city on fire for their freedom, where AMericans are content with food stamps and dancing with the stars.
ReplyDelete@SGS: Well, AmeriKa has a roid rage police force, backed up by the National Guard, in most cases, less than 3 hours away. Hard to fight these f'er...which, of course, was all planned. Plenty of Americans with fire in their bellies, we're just spread out over a huge area. According to Obambie "57 states":
ReplyDeletehttp://www.youtube.com/watch?v=EpGH02DtIws
But, agreed, plenty of mutton down here.