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Video: Andrew Maguire/World Silver Fraud Explained

"JP Morgan, the gig is up."

http://www.youtube.com/wa...

7:37

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JPMorgan Chase earns $3.3B in Q1 on strong trading

JPMorgan Chase earns $3.3B in Q1 on strong trading

http://news.yahoo.com/s/ap/20100414/ap_on_bi_ge/us_earns_jpm...

the stranger's picture

JPM = Free Markets

I read a piece by Warren Mosler at the Huffington Post, A Primer on Gold Lending, that was so loaded with spin it reminded me of a few remarks in this blogs string. Then, while dropping by Le Café Américain to see what's cooking, I noticed Jesse had eviscerated the piece. By reading the comments in here I can tell that most of the folks here really care about the issues RP does, and might be very interested in this well written rebuttal. And for those few here that would try to persuade me that ‘shorting selling’ is a legitimate market function (which it is), please...

A quote from the article linked above

And further, in the case of commercial entities like the TBTF bullion banks JPM and HSBC, they are not complaining about short selling that is backed by physical metal, duly paid and accounted for. They are asking questions about what appear to be enormous naked short positions against silver, questionable ownership and claims to collateral, and naked shorting by banks using public funds and powerful influence over the regulators, with selling patterns indicating the intention of manipulating the price in order to gain from it. Sound familiar? It seems as though this has been the very basis of the US financial system since the repeal of Glass-Steagall.

Just for the record, out of all the comments here at the Daily Paul, this is my number one favorite line to date -

...hating JPM shorting is akin to hating the free market...

Priceless, I must drop in here more often just for the entertainment value. Besides, there are a lot good folks hanging out here too. We can laugh together (videos of slaughters, notwithstanding).

au and ag

sold my paper au today....

will sell the paper ag tomorrow...

buy it why you can..

buy it why you can..

“Defiance of God’s Law will eventually bring havoc to a society.” - Dr. Ron Paul

Money is to be spent, not hung around one's neck.

Spend gold and silver. If it isn't spent, then it isn't money. Give it to the poor. I don't mean give it to them with nothing in exchange; I mean give it to them in exchange for goods and/or services. In this way the message of real money is taught. Spend the the gold so that it has real value. Push the FRNs out of the market.
grant

Not realistic.

If we are given the choice of money, between gold or fiat, we will save the gold (because it holds value) and will spend the fiat currency.

Speculation is a game of poker, have to pay to see their hand.

Only way to find out is for all to call for delivery.
grant

The hand has already been

The hand has already been exposed.

“Defiance of God’s Law will eventually bring havoc to a society.” - Dr. Ron Paul

0_0

This is HUGE!

~~
Teach a man to fish and you feed him for the rest of his life.
Teach a man to phish and he'll clean out your bank account.
~~

Yep

When someone pointed out to me 13 years ago what fiat money was I began cashing my weekly paychecks at the coin dealer for legal and lawful dollars silver and gold. Since then the federal reserve notes have depreciated by 400%. I laugh at the idiots still using paper like a bunch of stupid starving Germans. Ron Paul gave you the 1985 Gold Bullion Act to avoid wars and depressions. It is your responsibility to start using the coin for goods and services.

bump..this is effing huge..

bump..this is effing huge..

Can anybody point me to a

Can anybody point me to a comparison of the specific predictions that Maguire made and what actually happened in the silver market?

Yes

Here's a link to the emails Maguire sent to the CFTC

http://www.zerohedge.com/article/whistleblower-exposes-jp-mo...

The most important civil liberty I expect from my government, is my right to be kept alive - Mitt Romney

The news

is spreading very fast

FOX

Looks like George is getting some press.

.

Ron Paul "Sign Wave Across the USA" -- November 5th!

anyone

KEEP

Spreading this far and wide. This is huge!!!

O.K I will share once.

Those that don't listen or show interest ,it will be at your expense.
If you have room to warehouse a little,Buy canned commodities and seal them in plastic,Bury them if you have to.
Coffee,Exotic spices that cannot be grown here,Cocoa,High quality Teas,Pure cane sugar,Etc.that will never go bad and keep forever.
The things that folks will be demanding when it is no longer being imported into the country.
I once came off of a fishing trip for three months at sea and we met another boat that had Coffee,I was glad to pay 10 dollars for one cup.This will be the case in the end.
EDIT: When you come to me for my services,I will not take Gold or Silver But I will take some Coffee,and some Cocoa.

If I disappear from a discussion please forgive me. My 24-7 business requires me to split mid-sentence to serve them. I am not ducking out, I will be back later to catch up.

northstar's picture

The story got some serious legs now

MSM picking up on it. Should be a rollercoaster week for Wallstreet.

Real eyes realize real lies

We want our country back

Every year is a year for Ron Paul!

Momentum is building

When MSM is exposing the fraud more people will wake up and start to do something about it.

The lies are being exposed and the truth resonates.

Getting financially educated and informed will allow the middle class to take a stand and take back their financial futures.

If you want do know more http://Wealth-To-Freedomcom will lead you to the information to allow you to be more informed.

CNBC

CNBC picked up the NIA press release.

http://www.cnbc.com/id/36160274

audit the fed

From the article:
"The reason why we believe the Federal Reserve was so eager to orchestrate a bailout of Bear Stearns, is because Bear Stearns was on the verge of being forced to cover their silver short position."

You could be right.

Thanks for sharing that thought. I can see how it is possible.

Thank you for that post...

Thank you for that post...

Excellent! Hopefully now that

Excellent! Hopefully now that CNBC has picked up the story, the cat is out of the bag, the rest of MSM will air the story.

Whenever the treasury is

Whenever the treasury is auctioning long-term notes and bonds, the dollar news is positive. That's another time when they manipulate gold down. They suck money out of the stock market and into treasuries. Tuesday there's a 3 year note. Wednesday there's a 9 year 10 month note. Thursday there's a 29 year 10 month bond. Just heard Greenspan talking up the recovery - right on que.

Yes there is fraud in the futures market. The big commercials are setting the price of pm instead of discovering it, and there is collusion with the US govt.

the stranger's picture

in the shadows

There are so many well respected souls that have dedicated so much effort to illuminating what is taking place in the shadows; each in their own way, each in their own realm. Dr. Paul is just one and highly visible working within the existing political machinery. But there are so many others. GATA has an entire lineup lead by Bill Murphy and Chris Powell. Jim Sinclair and team is another group selflessly working to educate. William Buckler of The Privateer comes to mind, and very easy to read too. For the not so easy to read, Jim Willie can take you through a hell of a lot of ugly doors. Zero Hedge has jumped into the fray with equally important information, reasoning, and analysis. If I stop here in naming names I know a dozen more will come to mind; Matt Taibbi, Catherine Austin Fitts, Ted Butler, etc - the list is not insignificant.

The integrity of many of these folks is proven and well documented; these, et al, have amassed an incredible body evidence in their interrelated disciplines. The point I want to make, right here – right now, is that all their effort was just that; work. And you must work at it to understand it. Many here already have, and you know it takes time and effort. And you can also see, as I can, that challenges for an ‘executive summary’ are childish demands at best. In some cases, it may not be possible, but even if it were possible doesn’t mean you’ll have the time or ability to do it; I know I'm lacking in both areas. Still, these words I lay down are not necessarily meant to prove anything – but if I do a decent job articulating my point – maybe, just maybe a person can be convinced that the subject has merit and deserves further consideration.

In short, I stand down to these calls of “chicken” in a data-race to the edge of cyberspace. However, why should I (or anyone else here) stand down to these equivalent statements of ‘big boys don’t cry’ or exclamations of isolated pseudo points like ‘naked shorting is not fraud’ - we tell them it’s raining outside; they disagree but refuse to walk to the window (analogy from The Oil Drum, I think). And this ‘don’t pick on the short sellers’ droning takes place while the people of this nation are sold down the river; up fiat-creek without a perow.

Other statements here that this development is meaningless and will change nothing are incredibly misinformed. This is a grass fire spreading across the planet – sorry 'the news' here doesn’t cover it. I heard the same arguments about the grassroots RP movement.

Help me out here, when a person writes something like this -

As the whistle blower states the shorts will be squeezed and essentially anyone holding physical gold will get paid off. The question is in what? Inflated currency or are we talking complete break down to barter economy (if that’s the case I need a Pallet of Marlboros) Either way I don't see this working out well for anyone shorting gold, unlike shorting Lehman Bros.

Is he obfuscating, or does he genuinely not understand the issue? I honestly don’t know. I can tell you this; if the whole show breaks down, a pallet of smokes probably would be money. No argument there – but what’s his point? If this blows up, it’s bad, so it it’s in no one’s interest that it does? What is this, the misapplied false logic of Pascal’s wager?

Or this -

That being said what McAndrews is describing on a broader view is exactly what everyone that is anti-FED has been saying since 1971...right? Of course they need to manipulate these coms. My deal and quite a few other people's position isn't that some funky crap isn't going on. It’s just sad to see short selling getting stuck with the bad rap when we all here know darn well its the fractional reserve/fiat money system that is the root cause.

In this excerpt of literary ping pong – the guy states, “Of course they need to manipulate…” oh great, I’m done with this exercise in futility. Absolutely zero intellectual integrity. See what I’m getting at? Why bother explaining to these folks what has already been well covered. It’s a heckling match. At the top of this rant is a list of names one could easily consider selfless patriots. We could just as easily, in this space, demand proof that the above named folks are wrong in their myriad damning assertions.

A quote from a different source  –

Dear Jim, I know you are away, but was wondering why you have not commented on the CFTC hearing and metals manipulation by the usual suspects. Regards, CIGA Arlen
Dear Arlen: There are two reasons that I have not commented.

1. All accolades to Bill and Chris at GATA for their long suffering to bring this reality into public view. I could not add one thing to the depth of their accomplishment.

2. When the Devils are in charge, virtue is a sin. I doubt anything will change. Regards, Jim

This is good enough for an executive summary, and from a most respected executive.

One more thing –

It’s okay with me if the words conspiracy, fact, and theory are used; even combined when appropriate. My dictionary still contains them – these are legitimate concepts. But then, I don’t practice newspeak. The conspiracy theory mud is thrown, the laugh track activates, and the obligatory smirk appears thought the crowd; this pavlovian response still amuses and amazes me. When a person can not deal with this term, I don't question their intellect, oh no – in this (perhaps isolated deficiency) I question their sanity.

look man all anyone is looking for is the real scoop

If a Farmer, A banker, A silver miner, Electronics manufacture, Or a junk yard man want to short something naked or covered it should be no quarrel of anybody's that believes in contracts. I hope everyone here believes in contracts.

Thats why a few of us are skeptical of this whole thing being 100% fraud. Its not fraud until the contract is broken and their is a failure to deliver. If JPM are leverage 100:1 on a massive short position (which I have no reason to doubt Maguire) and their is a failure to deliver the whole thing could easily result in a giant short squeeze. The result would another banking crisis and the only way the government is ever going to kick the to big to fail habit is to let JPM go through normal bankruptcy. I would be shocked if anyone here can actually see JPM getting the ax, but maybe all the favorites are at Goldman now.

This isn't as clear of cut case as many people would like to believe it is. JPM is free to take massive short positions (or get dumped with them from Bear Sterns) and they don't do on the spot market with physical gold. Its all done in the Futures market, hence the C.futures.tc involvement in the story. Futures Markets are different than any other market. And many "manipulators" can work their magic in that environment because few people really understand it. But its really just people out to make a buck.

All I want to see is clear proof of Government/FED tinkering...I don't deny it exists, but whenever I see a which hunt on short sellers I get suspicious really quick. Granted people would not be so fast an loose with their money if the FED didn't give them easy credit.

If there is a conspiracy going on I don't think its with short sellers. If it were you holding the bag of bear stern's bad shorts what way would you play the market? I know I wouldn't take it on the chin and I would firing big to blow out every technical level if it gave me a chance to cover. Thats thing most people don't get...the market is you and the market is me. We are the market, what we do (the Human Action we take) affects the market. JPM effect is bigger, but you are walking a fine line in freedom when you get pissed at a private group acting in their own best interest affects the market. Why it could be just as easy someday for a group of people to come around and lock you up for taking a long position on silver. Then you would be labeled a hoarder and have your metal taken from you.

All I have heard from Maguire is what he learned from a bunch of fellow traders over drinks. All went to same sort of school I am sure, and they hangout together to exchange strategies. They see what pitch is thrown and hit as hard as they can. Why burn them at the stake for it?

If you want my honest theory on this I can give it to you, but its not much different than what you think is going on. I just don't like the focus on the shorts. Its not the root cause plain and simple.

Sorry I have struck such a nerve with you that never was my intension. My position has simply been hating JPM shorting is akin to hating the free market, but I don't deny the market isn't full of "market makers".

Most folks around this site agree on 2 things that they may not always see in simple terms.

Number 1) The government's current Job is to create Debt and Sell it (great work if you can get it).

Number 2) The Feds job is to create money, inflate, or counterfeit. Use whatever term you want.

The way I see it the crisis you are concerned about is definitely coming b/c of 1 and 2, not because of shorts.
PS your executive summary is key!