Maguire/NN-L Respond To Cohan Interview

The latest in the saga, though not directly from Andrew Maguire, seems to place the onus back upon William Cohan.

Below is the latest "reply", just published by GATA and written again by our friend, Ned Naylor-Leyland. In it, Ned asserts that the hold up in publishing the article in question is NOT coming from Andrew and his attorneys. It is instead coming from Cohan, himself.

Apparently, the delay in publication comes down to this:

Cohan wants to insert language that directly names the TBTF bank at the heart of the manipulation (which, I guess, we all assume to be JP Morgan). Andrew and his attorneys allege that, at this stage, directly identifying the lead perpetrator would be potentially libelous and, thus, was never agreed to by Andrew and his lawyers.

Look, I'm not a lawyer so I really have no idea what is libelous and what is not. Maybe our pal CaliforniaLawyer can chime in with some clarification? For now, though, here's a full reprint of Ned's response. It appears that the ball is squarely back on Cohan's side of the court. At this point, I just hope some kind of middle ground can be found. I mean, seriously...who cares if JPM or some other bank is mentioned directly? The story just needs to be put into the public domain and then we can all just let the chips fall where the may.


By Ned Naylor-Leyland
Investment Director
Quilter Cheviot Investment Management
London, England, United Kingdom
Tuesday, September 30, 2014

Last week I wrote about financial journalist William Cohan's unpublished article about silver market manipulation and a regulatory cover-up. This week Cohan has claimed that lawyers for London metals trader and market-rigging whistleblower Andrew Maguire were stopping him from publishing his article.

Cohan is demanding that the main perpetrator of metals manipulation (the institution also known as Voldemort) be named specifically in the article. Without this, Cohan says, he won't publish.

Contrary to his claim, this was never agreed by Maguire's lawyers and for legal reasons cannot happen. But since everyone has a pretty good idea who the institution is anyway, I find it ridiculous that Cohan is making a demand that cannot be met and using that as a reason to remain mute. Contrary to what he appears to be saying, this detail wasn't agreed in the version of the article he wanted to put in newspapers.
Cohan appears to want this all to go away, which it won't.

I repeat: Cohan told me that his article "got killed everywhere I took it" and that it is "an amazing story that really should be out there." These statements and that he did see the evidence and did write a long expose of the subject are unavoidable.

Cohan's thoughts on the matter, in light of his reputation, would be worthwhile indeed and metals investors deserve to have this subject cleared up. If, as well may be the case, silver and gold prices are being managed with not just impunity but also with the collusion of the government, then this truly is a monster of a story with far-reaching implications.

Maguire has been relentless in pursuit of the prosecution of criminal behavior in the metals markets, so any suggestion that he is getting in the way of Cohan's publishing his article is really absurd. Such a complaint deflects the blame, as of course Cohan said and thought he could get the article published in the mainstream financial news media and then discovered otherwise.

Who other than Maguire approached the government regulators with folders full of evidence, risked life and limb to do this, and will not let go of the subject despite a monstrous cover-up admitted by a former member of the U.S. Commodity Futures Trading Commission, Bart Chilton?

The article Cohan wrote can and should be published. He already has mentioned one of the things he was told not to publish -- that other enforcement agencies have been involved -- and the other detail he is insisting on cannot be included.

Enough of the obfuscation, please, Mr. Cohan. Let's see your article, on your own Internet site if you can't publish it elsewhere.



Below is the email reply that William Cohan sent off to Dr. Janda upon review of this post:

this may have reached the point of ridiculousness i am afraid. i never mentioned
the JPM point. everyone knows JPM is the big kahuna here as i wrote in my NYT article.
it is about being able to include the fact that Andrew's lawyers went to two other enforcement
agencies and won't let me identify them and the fact that Andrew's colleague will no longer
allow me to quote him.
thanks for sharing

As you can see, we are nowhere near any type resolution/clarification of this matter and I, for one, am getting sick of dealing with it.



Sciter's picture



SMM's picture



Now to read what Mr. Maguire has to say.

Alonzo Jazzberry's picture

"Enough of the obfuscation, please, Mr. Cohan."

In light of the rest of Leyland's response, this may be the most ironic possible way he could have concluded it.  Shame on Cohan for attempting to obfuscate by insisting on having actual important details in his article!

Anyone really buying this?

willsilvaa's picture

Tx Turd & a ? can i send money order to sign up

Thanks T for bringing us this update.I have been waiting 14 years for true price discovery.
My question is this ,for turd.....paypal doesn't work for .I am ready to send you one hundred dollars to be in the loop,can i send a money order to somone? Best wishes from Merville BC....Will

49Pan's picture

Fifth Maybe?

Just checking in.  Thanks to all of you that help us all hang in here!

Alonzo Jazzberry's picture

Also love this one

"Cohan appears to want this all to go away, which it won't."

This after Cohan immediately went on Dr. Janda's radio program for a candid 25 minute interview insisting that he absolutely wants the article published and will do so tomorrow if he gets approval from Maguire.

Meanwhile, Maguire claims he'll 'put the matter to bed' and still hasn't said a damned thing?

Wait, who wants all this to go away?  I thought Dr. Janda was being harsh on Maguire in his interview yesterday, but now starting to think maybe he struck the right tone.

Turd Ferguson's picture

Thank you!


Yes, if you can't use a credit card or Paypal, you can always send a snail mail check to:

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Turd Ferguson's picture

Not sure what to tell you Alonzo


Let's just hope that some middle ground is struck soon.

Response to: Also love this one
Marchas45's picture

Here We Go Again

Why don't they just have someone else write the story and forget Mr. Cohan if he is the responsible one for holding up the publishing off the story.  End off story. Keep Stacking

Alonzo Jazzberry's picture

Craig - maybe you are the one to do it?

Cohan mentioned in the interview yesterday that Maguire won't talk to him directly.  An intermediary would seem necessary in that case, and this Leyland guy is obviously too inflammatory (just wants to blame Cohan).  Janda seems likewise inflammatory (just wants to blame Maguire).  Of course, if no one can get in touch with Maguire then it probably is hopeless.

pforth's picture

Maguire needs to speak...

Ned talking about this is nice but Maguire needs to speak.  Unfortunately, he's losing credibility by the hour.

lnardozi's picture

Nothing could be simpler

Mr. Cohan needs only publish the original article (without naming JP). This keeps his sources out of the next article, where he alone explains how it is possible to determine who Voldemort is. Since his sources aren't named in the followup article they can hardly be targets for libel.

Not to mention the fact that with the original article to prime the pump, readership for the second article is assured and the clamor to find Voldemort's identity will drive increased readership.

At any rate, that's what I'm sending him.

4 oz's picture

There is more going on here than we can see.

Me thinks there is more going on here than we can see.

Props to Ned and Dr Janda & all for  their efforts....

No clue what Cohan's angle is....not out of the realm of possibilities he wants to live longer.

As for AM....I can look past all his cryptic dialog because he is fun to read/listen to....having said that,  it more than bugs me he went on Max Kaiser to unleash this thing.... who is a charlatan if there ever was one.

Clearly the face AM projects is one thing and what reality is---is another.

silver66's picture

Shimshock group

very nice case study they did on your site. Props to you.

I must say they have a very eclectic customer base, small to multi national companies


piiper2's picture

Maguire needs to speak...

Totally agree, this is a farce...but anyways amusing to follow. Its only making the case stronger that "precious metals to the moon -expectations" is only for people with tinfoil hats. Maybe this sentiment indicates the bottom in metals who knows. At least this case wont get more absurd!

rxman's picture

I'm Not a Lawyer Either

Ted Butler challenges JPM every chance he gets. He calls a spade a spade. JPM are criminal rat bastards. In the legal process there in lies "discovery" or in other words an expose' of the truth. Bring it on. Cage fight til the..............


-SilverIsMoney-'s picture


"I have evidence JPM is manipulating price!"

Can we name them in the article?


Lol... I went to journalism school and we were all required to pass media law. If the journalist is willing to include the details but Maguire isnt that makes 0 sense because its the journalist who takes on the liability when he puts his name to the story.

Still waiting for an actual response from Maguire who continues to look worse and worse...

lakedweller2's picture


Just google the terms.  Generally, truth is an absolute defense.  So, if someone is concerned about slander/libel suit, then the potential defendant may be concerned about the veracity of their claim

That is my wild guess.

proformatrillionaire's picture

this whole story is a joke

and it is McGuire's fault. Let's face it, he was told to shut up or him and his family were going to get it. He has chosen to be silent. Fair enough.

Sound Money Minnow's picture

Worried about a libel suit

Maybe I am reading this wrong, but AM appears to be more worried about his money, than yours. I get it, but perhaps others should act accordingly when considering credibility. Either that or cash is king to the truth.

lnardozi's picture

And there's this

Any or all of them may well have been enjoined. When you own the law anything is possible.

Luigi's picture

A simple disclaimer would do

Stating AM has not named any party involved in this article. Problem solved.

Now publish it. Thank you.

wildstylechef's picture

Liability and stoping yourself being part of the US BS

It is part Cohen and Part Andrew, Mostly Cohen because if you are to bring justice the last thing you want, is giving the perpetrator the opportunity to tie you up in court for eternity and allowing yourself to be bankrupted back to the begriming of time. That's why Andrews smart and he lives in England and has lawyers as advisors Cohen is just posting an opinion on a document with no advisement

Dagney Taggart's picture

This is BS.

I have a minute....

First off, it's not libel if it's true. AM's lawyers are essentially admitting they have nothing they can prove. Andrew: I hope the lawyers were not too expensive. Just remember that they live off wasted fiat and are part of the problem.

A respected financial journalist is not going to commit professional suicide going to the mainstream press with  Jim Willie-type imaginary friends like Mein Herr and The Voice(s in my fat head).

AM's lawyers are the anchors in all this. Not Cohan.

PS. On the subject of National Security matters, where in history has lasting security has ever been derived from corruption and theft? The term was obviously invented by criminals to defend criminals with a naive and complicit military defending them.

ctob's picture

Bam Nailed it

I posted last night in the other thread that this was all about the libel laws of the UK.  British people have to take this extremely seriously its a much bigger deal than in the US, almost the opposite.  AM literally could be sued into oblivion because of it.

Barfly's picture

Still not from Maguire

I have many questions about Maguire, as Turd knows, and I'm going to hold them back until I hear something directly from him. Poor Ned has once again found himself in a jackpot based off of something Maguire has told him which looks dubious and obfuscatory. I hope he learns and soon.

wildstylechef's picture

JUNG HIT 52 WEEK LOW 11.90 closed @ 11.74 hmmm

Looks ike a buy of a life time but an extremely resilient gold stock?

Kirkland lake gold KGI, in US KGILF  5.79% UNDER 50 day, 27.39% still above 200 day 28.83% return since January when turn announced his picks

hmmmm which one??????

higher return with resilience to further downturn

or a 300%+return

Alonzo Jazzberry's picture

Here is the crux of the matter for me

There are indeed lawsuits being threatened to keep this article from being published.  However, they aren't coming from anyone on retainer at JP Morgan or any regulatory institution, they are coming from the legal representation of Andrew Maguire.

Cohan is ready to publish now, but the lawyers for Maguire are insisting that he gut the article of any real value, make it an opinion puff piece of rumors and innuendo.  This is fully admitted to by even Neyland.  Why doesn't Cohan publish any way with the real story?  Because he risks legal retaliation from Andrew Maguire!  That is the only possible explanation other than Cohan being a liar in almost everything he said on Janda's show.

And it makes perfect sense.  Maguire is at no risk for any libel suits because he isn't writing the article, he isn't publishing the article, and the article isn't even being suggested for publication in the UK.  I would love to hear from a UK attorney that can refute this point, because I don't see the faintest possibility of a libel case against Maguire here.

The only person at any legal risk is William Cohan, and he clearly feels that risk comes from Andrew Maguire himself.

rxman's picture

"STORY" "Fictional Novel"

"an amazing story that really should be out there."

John Grisham, best selling fictional novel, set some time in the future looking back at this period in time when "The Day the Silver Bomb Exploded" incinerating all paper. This fictional account does not require factual information. Story line would include mystery, murder, legal/court room/congressional hearings, history, and of course a romantic affair lol. The sheeple will pay for and read an exciting novel that keeps them riveted to the plot. We have several Grishams that write on this site that are literary wordsmiths.

example review This novel is riveting from beginning to end and keeps you on the edge of your seat as you look into the abyss of what happened to the world financial system and what I have said was the biggest financial crime  in the history of the world.

B. Murphy GATA

Pining and several others are our Grishams

rxman "Just thinkin out loud and out of the very constraining box."

StevenBHorse's picture

I have a sneaky feeling

That Alonzo has been on here before, and was previously banned. 

It all started the same way with the other guy, for those who may recall.  

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