Tuesday, November 9, 2010

The JPM and HSBC silver conspiracy to hold down prices

What happens when a couple dirty investment banks get their dirty laundry exposed??

How about this little tidbit here:

In connection with its acquisition of Bear Stearns in March 2008, defendant JPMorgan acquired massive short positions in the silver futures market. Thereafter, JPMorgan, with HSBC, artificially depressed the price of silver dramatically downward. The conspiracy and scheme was enormously successful, netting the defendants substantial illegal profits. The conspiracy and scheme has been corroborate by a 40-year industry veteran and former employee of Goldman Sachs (the "Informant") who was told by representatives of the defendants about the conspiracy and scheme. The Informant has stated that he had been told first hand by traders at JPMorgan that JPMorgan manipulates the silver market. The JPMorgan traders would brag to the Informant about how much money they were making as a result of such manipulation. The informant reported the defendants' activities to the CFTC which has opened an investigation into the manipulation of the silver market."

And how does the chart of silver look since these lawsuits were brought to the front page??

Booyah Baby!!!!!!

Making money thanks to the activities of the fraudulent bankstas covering their positions!

Now, how sweet is that????


Anonymous said...

How about this for conspiracy theory...The 'dirty' banks are long precious metals, and fabricated such a story in the hope of further boosting bullish momentum so they can offload.

Prices were held down artificially? is that a joke?

How about this for a taunt then, the precious metals make their top today 9th of Nov.. Will come back later to Booyah you, lol.

Good Luck

Palmoni said...

Booyah!! hhey--I know that the banksta stories are always blown up more than what people say---

and a chart that syas prices were being held down, could just as well show accumulation

and heck QE@ means risk is on--and prices have popped considerably--so that's a good explanation

so i don't know what is fact or fiction or fluff

but what I do know that gold and silver back in 92 and after 911, and then right before the move in 93--well then, I would say the handprints and footprints of the Central banks were all over gold and silver

so now, you see a quick rise, and then you use the story--well a little bit of Hearst journalism and you have an excuse for the move

I hope I don't get booyahhhed--because lately I'm almost getting giddy!!!

Anonymous said...

where we dont meet eye to eye friend, is when you say QE is a 'risk is on' signal.

I think its the opposite.

Risk is off. The sheep believe the news and are scared into buying (stocks, gold..) in the fear of further losing purchasing power with the $ decline.

Sheep never make money in markets Palmoni. The $ has bottomed. Euro was the first to fall off the cliff. Commodities will follow suit today, and stocks inevitably will come crashing down once enough distribution has been completed.

Who knows, i cud be wrong, but i just loaded up put options on Gold, and shorting the commodities hard. I think we reverse today.

Palmoni said...

the only problem is that distribution takes longer than expected..

I remember buying when the market was cratering--only to see prices crater again and again

It's the same now

Prices may look high--but sometimes the chasers need to get paid--and they will--because the chasers need to get back in the market so the pros can distribute their merchandise!!

and we are now seeing some retail inflows--but its just a trickle when the tsunami of money comes in, then we'll talk!

and how about the short base? which is still huge?

The amount of some of the shares shorted have come down--but the cost of the bet hasn't--because prices have moved up!

Anonymous said...

Distribution happens (contrary to what most people think) on the Down moves, while the market is falling. Its when investors pull out their cash and go heavy long, thinking its a dream discount.

Tsunami of money? The QE of 100 billion a month into a 15$ trillion economy is a small figure. Hardly inflatory. And even if it was, dont you think current prices reflect that? Have you seen the price of Cotton? Sugar? we were at insane levels, and i think today is just the beginning.

That said, the market is cunning. We need another day like today to confirm the reversal. Silver tho wont be making new highs. Down already 9.5% from the highs.

Market needs to close the gap left a few days ago, before even thinking about higher levels. just my opinion..