CASE CLOSED: The Fact of Bullion Bank Gold and Silver Price Manipulation

Thu, Dec 8, 2016 - 1:31pm

Back in April, the Cartel Shills and Apologists attempted to minimize the news that a settlement had been reached regarding a "nuisance lawsuit" alleging price rigging in gold and silver. As we told you at the time and on many occasions since, this case is instead quite significant and very important. The latest update on the case, released late yesterday, sheds more light upon what we've always known was taking place behind the scenes in the "free and fair precious metals markets".

First, just another reminder of the two key points:

  1. Because of Deutschebank's settlement offer and willingness to turn "state's evidence" in the case, for the very first time a civil lawsuit regarding gold and/or silver price manipulation is being allowed to move forward into the legal discovery phase. This means depositions, affidavits and subpoenas. Never before has a case been allowed into this phase as all previous civil suits were thrown out by Bank-favored judges before discovery could begin.
  2. With Deutschebank now having agreed to nearly $100MM in settlements in the case, there is now the proverbial "blood in the water" for every class action attorney in the world. This current laswuit is just one case and this Deutschebank settlement is just one small part of it. There will now be countless new lawsuits filed, each of them seeking damages from The Bullion Banks for the now-discovered and proven collusion and manipulation of precious metals prices. Potential claimants range from mining companies to shareholders to day traders to investors/stackers.

So, what did we learn today. Here are two from Reuters and the other is a more detailed analysis from ZeroHedge. We strongy urge you to read both.

And here are the amended full filings from the case:

Silver Rigging 1 by zerohedge on Scribd

Silver Rigging 2 by zerohedge on Scribd

From the ZeroHedge article, here are two text exchanges that have been unearthed and submitted only because of the Deutschebank cooperation and legal discovery. There will be many, many more. Of that you can be certain. (click to enlarge)

As an aside, note the date of the exchanges posted above....May and June of 2011. After reviewing this evidence of direct collusion between The Bullion Banks, do you have any remaining doubt as to the origin of the trades in the May Day Massacre of Sunday, May 1, 2011? That sudden $6 drop in silver brought an abrupt end to the Cartel short squeeze that had pushed silver from $38 to $48 in April of that year. What followed were five CME margin hikes in nine days and silver falling to $38 in days and $26 within weeks. Again, after reading the text messages above, you now know precisely how this was accomplished.

Additionally and on a personal level, you now have confirmation of why TFMR exists in the first place. We gained notoriety in 2010 because we were able to offer precise guidance on price due to recoginition that Cartel traders were colluding to move price, run stops and paint charts. Because we could predict in advance where these traders would act, TFMR rapidly grew and ultimately became what it is today. Though we've since shifted our focus to broader topics, rooting out and exposing The Bullion Bank Cartel remains our focus. Bringing about an end to the manipulation and the Bullion Bank Paper Derivative Pricing Scheme will always be our ultimate goal.

But this is far from over. If we know anything about the legal process it's that it takes time and there are always delays, filings, briefs etc. Therefore, do not expect an abrupt end to the Bullion Bank price manipulation in the next few weeks. Instead, recognize these key takeaways:

  1. The potential monetary liabilities alone will now force many smaller players in bullion banking to exit the sector. Even some of the larger Banks, sensing the declining profits and increasing liabilities will close up shop.
  2. The mining companies and their executives, now finally faced with the truth about their alleged allies The Bullion Banks, will soon begin shifting their hedging and financing activities away from The Billion Banks and the LBMA.
  3. Points number 1 and 2 will lead to an ever-decreasing market share and dominance of fraudulent LBMA and Comex system.
  4. As the Paper Derivative Pricing Scheme loses influence and importance, a shift toward true physical price discovery will move to the forefront.

What does this mean to you?

Since you now know with certainty that the "price" derived through the digital exchange of paper derivatives is false and manipulated, you MUST use this knowledge to your advantage. Remember, physical gold and silver are priced as if they are abundant when they are not. What IS abundant is the paper dervivative that is used to set the price. As derivative trading fades away, physical trading and pricing will take over. And the price discovered in a truly physical market will most assuredly NOT be $1200 or $17 per ounce.

Have a great day, confident in knowing that you have been proven correct and that you are winning.


About the Author

turd [at] tfmetalsreport [dot] com ()


Dec 9, 2016 - 9:56am


FWIW, he once flew his airplane thru the Eiffel tower. Through the big legs. Guy should have been put away.

Dec 9, 2016 - 9:53am



This is a really busy time of year for me, so I apologize in advance for not immediately jumping into the mix on this seriously important post by Mr. TF.

In reply to November4, though, my best course of action I recommend to anyone who may have been a victim of price manipulation is to lawyer up. The lawyers to search out would be "class action securities fraud lawyers." That will get you a headstart on trying to narrow the search down and find a local lawyer.

I am NOT even remotely qualified to do this sort of work, as my specialty is sexual harassment litigation.

Now, to look into the crystal ball I see this:

(1) Some lawyers are pioneers and create new law, new causes of action, new legal theories of recovery for victims.

(2) Most consumer lawyers are conservative, but astute. What I mean by that, is the lawyers that take your case on a contingency and get paid only if they win, will NOT take your case unless they have already seen a similar case make money. It may not necessarily be their own case, but if they have seen someone else do it, they will perhaps take some time to learn the subject matter area and dip their toes in the water so to speak.

(3) The more cases that get filed, the more the legal documents initiating the cases get widely dispersed. More and more judges see the initiating documents, the defendants' responsive documents, and the subject matter begins to permeate the judiciary. Remember the initial effort at "Show Me the Note" litigation involving predatory lending. Those initial cases were met with skepticism by the judiciary, but eventually, after enough lawyers filed enough cases, and the courts of appeal began to see the lower trial court rulings, the judiciary became educated enough to begin to create parameters of the litigation and a body of case law to deal with the issues.

(4) Manipulation of investments has a LONG history of case law, mostly federal. But, this area of silver fixing brings into mind not only federal law like antitrust under the Sherman Act, but also state law fraud, misrepresentation and possible other statutory schemes like in California, for Elder Abuse, which gets a successful plaintiff TRIPLE damages.

(5) The tension in bringing the cases at first will be the costs to litigate. Only a class action will generate a sufficient return for the lawyer to even be able to financially bring the first case. However, later on, soon hopefully, smaller cases can get into the system, based on the discovery and pre trial rulings that will come from the trial courts.

(6) Basically, the case volume will increase exponentially as the lawyers who are conservative begin to see the upside potential in taking individual cases against the manipulators. It ALWAYS happens, just give it time.

So, to sum it up, do an internet search for class action investment fraud lawyers, meet with them, tell them your story, and maybe they will sign you up as a client and take your case at no cost to you. You may not end up with very much, but your effort to initiate litigation and pursue it WILL be important to all of us down the road in bringing to light the illegal practices of the past, and hopefully putting an end to manipulation.

The only way the system changes is when the incentive structure changes. The incentive structure changes only if there are NO rewards for manipulation, or there are INDIVIDUAL penalties, such as jail time or loss of licenses. If there are only slap-on-the-wrist fines, this actually creates an incentive to continue doing the manipulation, as the profits reaped measured against the fines imposed is nothing but an arbitragable opportunity which creates incentive to keep up the illegal behavior.

The incentive motive for a plaintiff's lawyer pursuing a fraud lawsuit is enormous, and will lead to seriously damaging facts through sworn testimony and document production, such as the texts we have already seen come out on Zerohedge.

There is no doubt going to be explosive facts coming out in the next few years on this, so get in the game now and go for it!

Dec 9, 2016 - 9:51am

Other inclusions to the list

Yes, we should have included ole Bron. I noticed, too, that the prick Kid Dynamite has now closed off his Twitter account to invite only. Big shock there.

But Moriarty is just an asshole. Not worthy of discussion here. Permanently on ignore and worthless.

Dec 9, 2016 - 9:42am

Fox Business

Watching it now. No mention of any manipulation story. Shocking, I know.

All of the talking heads are breathlessly blathering about the stock market rally. Pontificating about when the DOW will hit 20,000. The bullishness must be hitting close to an extreme. They look like lathered horses with a muzzle full of pheromones. When you see this, a contrarian might be expecting a reversal.

I have to submit a new pejorative moniker to Turdistan:

in honor of Bob Moriarty, "Bullion Bank" Bob. Since Bullion Banks don't exist.

Dec 9, 2016 - 9:28am
Dec 9, 2016 - 9:26am

One caveat

The Zerohedge article and the original Bloomberg article focus only on the claims made by the plaintiff against the banks named in the action. At the end of the day, A JUDGE WILL STILL HAVE TO MAKE A RULING. Since the banks control the politicians and since the politicians control the courts, this is by no means a slam dunk.

Dec 9, 2016 - 9:08am

Manipulation thoughts

I suspect that FAWC (Fxxx All Will Change) in part because these financial terrorists have known for some considerable time, that the gig is up, they know DB is snitching on them and the noose is tightening but they carry on regardless, they know they are untouchable at the highest levels , sure they may throw few peasants under the bus but the game is too profitable and the consequences of an honest pm market too high for them, to let a silly thing like the law get in the way. Even the dumbest thief in the world has enough sense to leg it once the alarms go off and the police sirens are getting closer , unless of course they know the police wil show up with wiffle bats and blindfolds

The CFTC SEC Punch and Judy show a few years back told us all we need to know, there was no "actionable crime committed"

Just my two cents worth

Dec 9, 2016 - 7:57am

Nothing to see here...move along Sheeples

Did a search on Fox News and CNBC in an attempt to find some coverage on the Deutsche Bank silver rigging...As suspected I came up with nothing. Search results did reveal coverage on Bloomberg...I guess I was hoping this story was going mainstream...But why would I think that MSM would ever disparage our markets when their livelihoods depend on the failing notion that these markets are fair and clean from corruption? Looks like Bloomberg and the WSJ are the places to get news from here on out.


Dec 9, 2016 - 7:38am

APMEX - PM non-believers?

I've used APMEX for years. I get the impression they don't believe their product is a smart way to hedge or invest. However, they've always delivered as promised and never made a mistake. I buy from them when the delivered price is best ... elsewhere when the deal is better. They even knighted me as a VIP member, but generally it's not worth bothering with a phone call instead of on-line ordering. Admittedly, it's like purchasing a Toyota from a guy who drives a Chevy (and loves it), but I don't give a hoot what others do with their money.

Provident has been winning some of my small silver purchases lately.I like their "Don't tread on me" silver coins, but the 10 ounce bars they sent are flawed.

J Siefert
Dec 9, 2016 - 4:59am

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