Futures Manipulation - Third Branch Getting Involved

61
Thu, Jul 31, 2014 - 12:46am

Whether this is misplaced hope or a sign of good things to come is certainly anything but certain. Articles abound regarding recent lawsuits filed against CME and big banks, for example:

https://wallstreetonparade.com/2014/07/lawsuit-stunner-half-of-futures-t...

https://www.bullionbullscanada.com/us-commentary/26545-the-banksters-mas...

https://www.zerohedge.com/news/2014-07-26/london-fix-gold-rigging-bullio...class-action-lawsuit-complete-charts?destination=node%2F491809

I am just buried in pressing deadlines, but my plan is to dig into the CME lawsuit, and give an analytical, critical opinion on the likelihood of that lawsuit surving a 12(b)(6) motion to dismiss as well as the likelihood of any real discovery getting done. Give me some time, and I will complete my analysis and post my thoughts.

For now, though, read these articles, and ask some questions, like these:

(1) Why are these lawsuits getting filed now?

(2) Are these lawsuits any sort of a planned distraction so that we do not focus upon the real swindle?

(3) In light of the other wordly, newsworthy headlines, not the least of which is the outbreak of the Ebola virus in what seems to be a radically more virulent manner, do the lawsuits really matter that much at all in the bigger picture?

(4) Congress, that bastion of buffoonery, has just authorized a law suit against Obummer. Not only does this immediately reek of cowardice, but it seems readily apparent to be unconstitutional on its face. Just like the President could never order Congress to do anything and try to enforce it with a lawsuit, the Congress cannot use the judiciary to force the executive branch to take or cease taking action. Congress is extremely powerful, when acting within the Constitutional framework, that is, as a unified body on behalf of the people. But, when the members, along party lines, vote to allow a lawsuit to be filed against the President, we have truly turned into a banana republic. What's next, defaulting on debts followed by a military coup? How can the third branch do anything but dismiss the lawsuit?

Similarly, understand the nature of judicial relief. Federal lawsuits, especially class actions, are not really conceived to redress a real legal problem. Rather, they are more geared to enrich lawyers who bring them as well as the top tier law firms and their mega wealthy lawyers who defend the elites such as the TBTF banks.

So, unlike the pundits who are selling their books, I am not immediately enamored of all the sudden lawsuits.

Like frequent poster Madhatter wrote at least a year ago, one of the most logical lawsuits that could be filed, if one wanted to truly get to the bottom of the manipulation and suppression issue, is a lawsuit based on either common law fraud, or federal law such as the Sherman Antitrust Act. If the banks were acting together to suppress the price of metal, then that would seem rather clearly to be a "contract, combination or conspiracy in restraint of trade." Why then, is not a single lawsuit filed alleging this?

My theory on this is truly simple. There is no lawsuit because there is NO incentive to do so. There is not enough reward relative to the risk. Until that equation changes, I will not hold my breath.

On the issue of the lawsuits, if one posts a link, I will do my best to download the complaint and take a look at it. So, by all means, post away and include the lawsuits the court and case number if available. Thanks in advance!

About the Author

  61 Comments

Spartacus Rex
Jul 31, 2014 - 1:06am

Branching Out

On a new thread

re: "(1) Why are these lawsuits getting filed now?"

Uh, Somebody smells Money?

Spartacus Rex
Jul 31, 2014 - 1:17am

@ Cal

Re: "Congress cannot use the judiciary to force the executive branch to take or cease taking action."

The POTUS has expressed Duties and limitations under the U.S. Constitution. If the POTUS should be in dereliction of such duties, or attempts to usurp power and/or authority, I really would love to hear your Points & Authorities on why either the legislative branch, or the Supreme Court sua sponte, could not avail a Writ of Mandamus, or Writ of Prohibition, to effect adherence to the U.S. Constitution, especially when it is their sworn duty to do so.

What do you otherwise imagine such Writs even exist for???

And who else other than the co-equal branches of gov't do you suppose has a greater standing to bring such?

Cheers, S. Rex

Spartacus Rex
Jul 31, 2014 - 1:42am

Obama "So Sue Me!"

Video unavailable
benny_bomb_boom
Jul 31, 2014 - 2:59am

touch um all

4 bagger brah !!

"What's next, defaulting on debts followed by a military coup?"

now that is the question. when and where could be the next.

of course we the phyzz is the best...so

"If the banks were acting together to suppress the price of metal, then that would seem rather clearly to be a "contract, combination or conspiracy in restraint of trade." Why then, is not a single lawsuit filed alleging this?"

can't wait to read your thoughts on the lastest CME bs. i do like that attitude dood. lets hope for the best.

Spartacus Rex
Jul 31, 2014 - 4:37am

Silver Eagle Sales Over 26 Million for the Year

https://www.coinnews.net/2014/07/30/gold-dips-silver-eagle-bullion-coins...

US Mint Sales Report:

https://news.coinupdate.com/us-mint-sales-report-fiftieth-anniversary-ke...

Collectors take note:

Next week,(August 5th) the US Mint will begin sales for the 50th Anniversary Kennedy Half Dollar Gold Proof Coin. This product is struck in 3/4 oz of 24 karat gold and features the original portrait design and a dual date of “1964-2014″.

https://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?cata...

Safety Dan
Jul 31, 2014 - 4:37am

What you haven’t been told

What you haven’t been told about Obamacare

Unless you’ve been living under a rock, you’re familiar with the “Affordable Care Act” – otherwise known as “Obamacare” – and you probably have some strong opinions about it.

But chances are, those opinions are based on misconceptions and half-truths you’ve heard from the media and politicians.

Liberals have cheered Obamacare for bringing healthcare to “everyone”… while conservatives have denounced it as “socialized medicine,” and even “communism.” But the fact is, both of these opinions are wrong.

https://www.youtube.com/watch?v=XQtxcKT-u_Y#t=108

nixy
Jul 31, 2014 - 6:41am

The system is rigged. The

The system is rigged. The system is dishonest. 'Government' should be an institution that protects people from fraud and dishonesty..... If fact that is ALL that is required of 'government'; to lock up bad people who cause loss or harm to others.

Fractional Reserve Banking gets very little mention on this site, which is sad, because it is the key fundamental to ALL manipulation......not forgetting of course the threat of physical violence to the ultimate underwriter.....the tax payer.

In short, without the *tax payer* there's NO Fractional Reserve Banking; without Fractional Reserve Banking there's NO manipulation.

Manipulation of real stuff is what HAS to be done when money is allowed to be created from thin air.

* tax payers here are really those who are free to purchase goods and services they themselves deemed to be good value.

How many would contribute freely to a buy banker payout..... can you imagine the request wording by government to 'it's' people. ...... (sounds like government owns people)

......."we need to bail out some of our bankers friends, we reckon it's going to come to around £$2000 a head......so could you, if that's OK with you, please sent a cheque (check) for £$2000....or should we load that debt onto your children / grandchildren"

alan2102
Jul 31, 2014 - 7:21am

forms of silver: 90% vs. bars

Here's something I just ran across in my pile of old clippings. (This one is 10 years old!) I'm posting here with the idea of getting some feedback from anyone who has thoughts on the matter. Yes, I know 90% would be a preferred form in some scenarios (total collapse; direct use as money; barterable). But for bulk investment purposes, under less-extreme circumstances... ? Your thoughts are welcome.

https://os2eagle.net/SSL/forum/index.php
Author: RossL
Subject: 1980 Ag
Number: 8301 :: Date/Time: 11-28-2004 :: 17:24
@ Galearis
The 1980 peak in silver was a special case. The refineries had
3 months supply of 90% silver waiting to be melted. Due to
this, bags of 90% silver never did reach the 35x face value
that $50/ounce implied. They were discounted due to the risk
involved in holding for 3 months. The only form of silver that
really did hit $50 was .999 bars that could be delivered on
futures contracts. All other forms were discounted.
The question is... could it happen again? As you mentioned,
the supply and demand situation is very different. As part of
due diligence it is necessary to explore every angle possible.

crambo
Jul 31, 2014 - 8:14am

San Bernadino

Cal,

Saw yesterday that your lovely city has decided it has a new tax source...Pot Stores!

Wondering when the "revinoors" will start hitting up those illegal pot fields.

Will DHS be the new "revinoors"?

Ah, the world is a funny place....

erewenguy
Jul 31, 2014 - 8:50am

Unrelated anecdote

Entirely unrelated at all to the thread topic.

In light of the fantastical GDP number and stocks at all time highs, the observable wealth effect should be incredible. I'm currently at the Smoky Mountain National Park area. The crowds in the commercial areas are way off, down 35% or more from what I normally see.

Of course this might be a sampling error, but I've vacationed in this area for nearly 30 years and have seen a lot of variable but steady growth. The crowds in the free park areas are within what I would consider to be normal, but the commercial areas don't seem to have a sustainable customer base. There has been a lot of construction over the past 15 years to accommodate the greater number of visitors, which now only seems to accentuate the sharp decline in foot traffic.

It looks like the empty mall syndrome is starting to hit this popular tourist destination.

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