JPM / CFTC publicity and correspondence

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Pining 4 the Fjords
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JPM / CFTC publicity and correspondence

I would like to ask every one of you to copy the following letter, modify it, or write your own, and email it to both Senators of your State, your District member in the House of Representatives, and/or to any media personality whose show you listen to. 

What would happen if the staffs of House members started contacting the CFTC asking what the hell is going on?  What would happen if a Sean Hannity, Andrew Wilcow, or Mark Levin (all of whom have sold physical gold to their listeners over the years, so they should be damn well concerned with this issue) started making noise about this on their shows?  It would make things damn uncomfortable for the people involved, that’s what. In fact, it would be the first time that I can remember where the people who do these things with impunity might actually start sweating over their crimes/inaction/fraud/complicity. 

If you receive any reply from a representative, a media personality, etc., I would ask you to copy and post it to that forum.  Let’s see if we can make some noise, folks.  If you don’t do it then nobody else will. 

Edited by admin on 11/08/2014 - 06:27
Pining 4 the Fjords
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Generic Letter to Senator

Senator XXXXXX:

I wish to call to your attention recent public revelations that J P Morgan Chase has been fraudulently manipulating the price of Gold and Silver.  This information was provided to the Commodities Futures Trading Commission, which deposed two separate whistleblowers from within J P Morgan, both of whom provided detailed and specific testimony regarding these criminal trading activities.  The account of these facts can be found here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/9/13_Morgan_Whistleblowers_Confess_Bank_Manipulates_Gold_%26_Silver.html

In particular, I wish to inform you of the fact that these whistleblowers provided this information to the CFTC more than one year ago, yet the CFTC has seemingly done nothing to curtail this activity on the part of J P Morgan.  Though I am sure the CFTC will attempt to tell you that the investigation is ongoing, the fact remains that nothing has been done to curtail this fraudulent trading activity. Indeed, highly questionable market action suggests that it is still being done today.  At what point does the continued inaction of the CFTC (in full knowledge of what is being done and in possession of sworn testimony indicating the extent of the fraud being committed) indicate that they are acting less as the regulator in this case, and more as an enabler of an ongoing fraud?  At what point does the CFTC become a co-conspirator?

There are millions of victims of this fraud, including millions of investors in your own state.  Any person whose retirement account includes an index fund which includes gold or silver mining companies has been defrauded as a result of these actions.  Any investor who owns gold or silver has been defrauded by these actions.  Any person who, in desperate times, has had to sell gold or silver at a “cash for gold” shop has been defrauded by these actions.

I would like to request that your office contact the CFTC and question them closely regarding the details of this case and their continued inaction on this matter.  I am particularly interested to see if you are concerned that your constituents are being defrauded.  The actions you and your office choose to take in this matter will certainly answer that question.  

Sincerely,

XXXXXXX

murphy
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Pining

Great grand illusion writing today.Thought I would mention what became of the three letters I sent to my senators and congressman.

Absolutely nothing, which is quite strange. Up until now I have always got a very punctual response within a couple of days. Sometimes more than one.It seems like they are not going to get involved in this topic.

When I get a chance I am going to drop them another line and ask them if they too are complicit in covering up the manipulation as well.                             @ag1969 - you should post your letters results here as well. It might give us some hope.

murphy
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Politics as usual- Finally received a reply
For some reason it took a month. I guess he was too busy working on the Senate Banking Committee.
 
Dear Mr. XXXXXX,
 
Thank you for getting in touch with me about investigations into the gold and silver markets.
 
As financial markets become larger and more complex, investors and regulators are questioning whether all market participants play by the rules. Allegations of energy market manipulation and interest rate rigging have led to large fines for large market participants.
 
Regulators are also closely monitoring the gold and silver markets. On September 25, 2013, the Commodity Futures Trading Commission (CFTC) closed a long-running investigation into the silver market. Investors had reported differences in the price of silver and investments based on silver, which they said were the result of market manipulation by the biggest banks. After a five year investigation, the CFTC announced that it did not find sufficient evidence of manipulation to bring enforcement actions against any actors in the silver market. Separately, news reports earlier this year indicated that the CFTC would study the potential for price manipulation in the gold and silver markets, though the CFTC has not confirmed this report.
 
I share your concern that a few large players could control the price and supply of essential commodities. In July 2013, I held a hearing of the Senate Banking Subcommittee on Financial Institutions and Consumer Protection to examine the waivers and legal loopholes that have allowed Wall Street’s biggest banks to purchase power plants, aluminum warehouses, and oil tankers and control the supply of goods for manufacturers and consumers.
 
We depend on transparent markets to ensure that every investor is treated fairly. Anyone who does not live up to this standard must be held fully accountable. We must also maintain market operations that do not favor a select few. I am working with my colleagues to make sure that market rules are not rigged in favor of the largest players, and against small investors. Small-scale investors, manufacturers, and consumers who buy products made from commodities like gold and silver deserve a level playing field to protect their hard-earned income.
 
As a member of the Senate Banking Committee, I will be sure to keep your views in mind as we work to hold all members of the financial community accountable. Thank you again for getting in touch with me.  
 
                         Sincerely,
              
                         Sherrod Brown
                         United States Senator
 
 
ag1969
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More lip service Murph

Relax, they are working on it!

Pining 4 the Fjords
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Thanks for posting this Murph!

That is the longest and most detailed non-response I have ever seen.  The intern she cut and pasted all those prewritten paragraphs must have spent a good 15 minutes!

Very telling, thanks for sharing.

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