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 - 2:30am

canary I appreciate the picture CFTC

Commodity Futures Trading Commission est. 1975 to oversee the Crimex, right in line with when something was available to US citizens. Why 1975? Must have been for wheat, no no no I think it was corn, ummm well it was for something.

Amazing, a Federal agency established to look the other way in regards to gold and silver futures trading. People have no clue to the extent they have gone to corral real money.

Dec 9, 2016 - 2:28am
Dec 9, 2016 - 2:26am

Texmex - Penn Metals

sad to hear for the customers

I have no mercy for any of the crooked mofos keep ripping folks off

fingers crossed that not too many good folks got burned

BTW - I just picked up 1 Teddy R ATB on JM, not sure if Turd will get a coffee for it...trying to help feed the Turd

BTW - I love Bitgold (now Gold-Money) & highly recommend to all you folks on the fence

Dec 9, 2016 - 1:51am


Add to the mix, the US Mint has stopped sales of several products until next year. My guess is because they can't get blanks. Some miners / refiners / fabricators are known to be selling to Chinese interest / fronts. Why wouldn't they considering the price?

Dec 9, 2016 - 1:38am


I was at my LCS today, asked them how business was. They said busy, buying and selling. I asked them if they feel/sense any tightness in the market. They quickly replied "None". They said their wholesalers have not raised their premiums yet, meaning there is plenty of inventory.

I'm with you though. This may just be an isolated case.


Dec 9, 2016 - 1:32am


I think many 'big dealers' are suffering because their ability to acquire large quantities of product at good prices has evaporated.

No matter what you are told, there IS a product shortage and it is growing....rapidly.

High demand from India and higher than normal seasonal (Christmas) demand are exacerbating the problem.

About a week ago, I bought a Mexican gold 20 peso (three were available). Went back about twenty minutes later to get another and they were all gone. This was at about 3:00 AM central time.

Dec 9, 2016 - 1:06am

@Rakka Re: APMEX

Just heard news Penn Metals may have went under. Their site is still up but no product available when you click on it. Also, reviews on the left side of the page state customers haven't received their orders and get a recording when they try and call. Hope no one here was/is affected. Gotta be careful out there. I suspect a lot of dealers are hurting with all this whipsaw manipulation going on.


Dec 9, 2016 - 12:25am

So close

Sorry, had to repeat this.....

Dec 9, 2016 - 12:12am

APMEX & Govmint & JM & SD

While I am at it let me add

no 1 dime to Govmint for the awful upsale & pushy way the snake folks w/their high premiem silver package for high school grads

75 to 150 bucks in nice airtight...think of how many grandparents & parents keep getting scammmed by the bs

even better, BU - gold eagle - highest price every time, wonder how many of these they sell, every week & every month they keep the highest price for Eagle & buffalos...get them now for 1500 bucks, while you can

APMEX - awful customer service, no business from me

JM Bullion - my main dealer, SD, I try to spread some to all Turd's sponsor, no problem with any of them...ever!

Provident Metals has fantastic mil veterans program, they beat almost any deal out there, check them if your your prior mil. God Bless Provident ... they not Turd's sponsor any more.

I been saving some $ to get some more 100 oz or kilo Asahi or JM bars, believe it or not, JM is much higher premium now that Asahi, the SaltLakeC mint, is the same, save a few duckies

Good night Johnboy

Dec 9, 2016 - 12:09am

And... Turd, you forgot

Bron Suckdicki, from the Oz Mint Saucer Full of BS

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