Gold and Silver Are Manipulated
The Guardian and Telegraph report that gold and silver prices are “fixed” in the same way as interest rates and derivatives – in daily conference calls by the powers-that-be.
Long-time trader Andrew Maguire told told King World News this week that 2 JP Morgan whistleblowers have handed over evidence of gold and silver manipulation by their bank:
Very recently [Commodities Futures Trading] Commissioner Chilton assured me, and I’m going to quote him exactly, “I can’t appropriately express my frustration and disappointment with how we’ve handled the silver investigation
And, as you know, I’m prohibited from actually saying much. That said, I will not let September go by without speaking out if the agency doesn’t do so.”
I was also contacted by two JP Morgan employees who told me they had a large amount of documented evidence of market trading abuses in gold and silver by their bank (JP Morgan). [And they handed it over to the CFTC.]
We’ll have to wait to see if Maguire’s explosive allegations pan out.
As shown below, big banks have manipulated virtually every market – both in the financial sector and the real economy – and broken virtually every law on the books.
Energy Markets Are Manipulated
The Federal Energy Regulatory Commission says that JP Morgan has massively manipulated energy markets in California and the Midwest, obtaining tens of millions of dollars in overpayments from grid operators between September 2010 and June 2011.
Commodities Are Manipulated
The big banks and government agencies have been conspiring to manipulate commodities prices for decades.
The big banks are taking over important aspects of the physical economy, including uranium mining, petroleum products, aluminum, ownership and operation of airports, toll roads, ports, and electricity.
And they are using these physical assets to massively manipulate commodities prices … scalping consumers of many billions of dollars each year.
Interest Rates Are Manipulated
Interest rates are rigged:
- The big banks have conspired for years to rig interest rates … upon which $800 trillion in assets are pegged
- This was the largest insider trading scandal ever … and the largest financial scam in world history
- Local governments got ripped off bigtime by the Libor manipulation
- Libor is still being manipulated
Derivatives Are Manipulated
The big banks have long manipulated derivatives … a $1,200 Trillion Dollar market.
Indeed, many trillions of dollars of derivatives are being manipulated in the exact same same way that interest rates are fixed: through gamed self-reporting.
Currency Markets Are Rigged
Currency markets are massively rigged.
Oil Prices Are Manipulated
Oil prices are manipulated as well.
Everything Can Be Manipulated through High-Frequency Trading
Traders with high-tech computers can manipulate stocks, bonds, options, currencies and commodities. And see this.
Manipulating Numerous Markets In Myriad Ways
The big banks and other giants manipulate numerous markets in myriad ways, for example:
- Engaging in mafia-style big-rigging fraud against local governments. See this, this and this
- Shaving money off of virtually every pension transaction they handled over the course of decades, stealing collectively billions of dollars from pensions worldwide. Details here, here, here, here, here, here, here, here, here, here, here and here
- Charging “storage fees” to store gold bullion … without even buying or storing any gold . And raiding allocated gold accounts
- Committing massive and pervasive fraud both when they initiated mortgage loans and when they foreclosed on them (and see this)
- Pledging the same mortgage multiple times to different buyers. See this, this, this, this and this. This would be like selling your car, and collecting money from 10 different buyers for the same car
- Cheating homeowners by gaming laws meant to protect people from unfair foreclosure
- Pushing investments which they knew were terrible, and then betting against the same investments to make money for themselves. See this, this, this, this and this
- Engaging in unlawful “frontrunning” to manipulate markets. See this, this, this, this, this and this
- Engaging in unlawful “Wash Trades” to manipulate asset prices. See this, this and this
- Otherwise manipulating markets. And see this
- Participating in various Ponzi schemes. See this, this and this
- Charging veterans unlawful mortgage fees
- Cooking their books (and see this)
- Bribing and bullying ratings agencies to inflate ratings on their risky investments
The Big Picture
The big picture is simple:
- The big banks manipulate every market they touch
- Too much interconnectedness leads to financial instability
- The government has given the banks huge subsidies … which they are using for speculation and other things which don’t help the economy. In other words, propping up the big banks by throwing money at them doesn’t help the economy
- Top economists, financial experts and bankers say that the big banks are too large … and their very size is threatening the economy. They say we need to break up the big banks to stabilize the economy
- The big banks own the D.C. politicians … so Congress and the White House won’t do anything unless the people force change