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 8, 2016 - 6:05pm

Calling Doug Casey, calling Doug Casey

Hope now your nasal congestion is cleared and you can smell the precious metals' manipulative Sh*t that just hit the fan(ny)....

Dec 8, 2016 - 6:02pm
Dec 8, 2016 - 6:00pm

Didn't a tuna company in

Didn't a tuna company in WESTPAC get an exemption to the most recent Congressional minimum wage by some congress person?

Just wondering if there is a relationship?

Dec 8, 2016 - 5:43pm

@Poundwize... "Future Chat"

+1000... needs to 'go viral'

Dec 8, 2016 - 5:27pm

I Remember This

Back Then But It Never Happened. Maybe, Just Maybe There Still Might Be A Chance He Will Sink With The Ship, Keep Stacking

Dec 8, 2016 - 5:27pm
Dec 8, 2016 - 5:26pm

Damn Tuna

futures derivatives! I hold the physical.

Dec 8, 2016 - 5:24pm

Bumble Bee exec to plead guilty in tuna price fixing

Gold - Silver and canned tuna....

Something stinks in the packaged seafood industry.

A senior executive at Bumble Bee Foods has agreed to plead guilty for his role in a conspiracy with other seafood packaging companies to fix the price of canned tuna, the Justice Department announced Wednesday.

Walter Scott Cameron, the senior vice president of sales, worked with co-conspirators to fix the prices of packaged seafood from 2011 to about 2013, according to court documents.

Documents refer only to "Company A," and said the firm was an unindicted co-conspirator.

But Bumble Bee confirmed Cameron is their employee. He has been placed on paid leave.

His plea with the court requires him to pay an undisclosed fine and cooperate with future investigations.

The court order said Cameron "engaged in conversations and discussions and attended meetings with

representatives of other major packaged-seafood-producing firms."

It said the co-conspirators, who were not identified, agreed "to fix, raise, and maintain the prices of packaged seafood sold in the United States."

Bumble Bee's General Counsel Jill Irvin said in a statement that the company is cooperating with the investigation. "Scott has also cooperated with the company and with the Department of Justice in the investigation," Irvin said.

It's not clear how much federal officials believe the company overcharged customers.

"All consumers deserve competitive prices for these important kitchen staples, and companies and executives who cheat those consumers will be held criminally accountable," said Renata Hesse, who oversees the Justice Department's antitrust division.

Bumble Bee said it hopes to resolve the issue with federal officials early next year.

Dec 8, 2016 - 5:13pm

Deutsche Bank May Have Rigged Index in Paschi Deal, Audit Shows

by Vernon Silver , Elisa Martinuzzi , and Donal Griffin

December 8, 2016 — 12:00 AM EST

Bafin report cited ‘abnormalities’ in benchmarks tied to trade
Bankers face trial over deal prosecutors say was fraudulent

Deutsche Bank AG employees may have manipulated internal indexes as part of an allegedly fraudulent scheme to help Banca Monte dei Paschi di Siena SpA conceal losses, according to an audit commissioned by German regulators 08/deutsche-bank-may-have
-rigged-index-in-paschi-deal- audit- shows

Dec 8, 2016 - 5:07pm

Vindication day my friend - Lemtropole Cafe Snippet

I'm sure you've heard/seen this - the key quote within is that the manipulation is/was worse than any conspiratorial theory out there.

Congratulations my friend provides-smoking-gun-proof-massive-rigging-and-fraud-silver- market


It is most appreciated. At the same time it is no victory lap sort of happening. My colleague Chris Powell and I have been watching (and reporting on) this blatant manipulation of the gold/silver markets for 18 years now. Not 18 days, 18 weeks, or 18 months. 18 Years. Actually, we are now in the 19th year that CP and I spotted what the bullion banks were doing.

This is what we have chosen to do. But with gold, silver and so many of the shares at such unrewarding price levels, it is no time for joy to finally see the obvious receive some WAY overdue attention. Some key mentionables…

*What has just been reported about Deutsche Bank and some other bullion banks is EXACTLY what Andrew Maquire told the CFTC’s Bart Chilton in early 2010. When the CFTC wouldn’t allow Andrew to testify in front of that infamous all day hearing (which was televised over the internet), he provided Adrian Douglas and myself with the details sent to Bart and we were able to get the gist of his information on the record during a question and answer period. For those who would like a blast from the past refresher:

March 25, 2010 - Gold $1092.70 up $4.10 - Silver $16.72 up 10 cents

MIDAS SPECIAL On GATA’s CFTC Appearance ... Would The Police Stop A Rapist If They Knew Who It Was?? pfvID=8439


Will the latest revelations amount to anything? Hard to say. The best line was from Vic P who said the comments (below) made by the nefarious traders read more like a Saturday Night Live sitcom. If it wasn’t so serious, it would be funny.

*There is something critical to emphasis about what is surfacing, which is only the tip of the iceberg of what is going on behind the scenes. The GATA camp has been right all this time. The market manipulation is so egregious that it has led to artificially low gold and silver prices. We will finally reach a Tipping Point in which The Gold Cartel will not be able to carry out their operations at anywhere near the present lowly prices. In addition, it is very likely that their schemes will actually blow up, causing a skyrocketing of the precious metals prices.

The more that is known about what The Gold Cartel has created, the more investors will want to buy cheap gold and silver because of the inevitable soaring prices required to rectify hidden imbalances. For that reason it is a day to be smiling.

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