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 - 4:53pm


includes a great photoshop of "Bartman" ThunderLips

Jesse's Café Américain: Gold Daily and Silver Weekly Charts - 'Smoking Gun' In Bank Silver Rigging

Most informed participants could see the obvious price rigging in the gold and silver markets over the past several years. Normal trading does not instruct one to dump billions of dollars in contract into the quiet market off hours.

And in fact this is a well known, time-tested market rigging ploy that some banks had internally referred to as the Dr. Evil Strategy.

How ironic that the CFTC, the primary regulatory body for commodities in the US, studied the silver market for about five years and then decided not to bother issuing any report, save for a simple statement that 'they found no evidence of market manipulation.'

Dec 8, 2016 - 4:39pm

Thanks for the reminder

The press release and verbiage is included in this link, as well as my angst/anger at the news.

Dec 8, 2016 - 4:36pm

Every Silver Holder Was Injured

It appears to me that anyone who owned silver during the periods manipulation was injured and has damages, regardless of whether or not he or she sold during that period of time. For example, assume you held 500 oz. during the entire period of manipulations, and never bought or sold. You were nevertheless damaged because what the manipulators did was to steal your legal right to sell that silver at a fair, just and un-unmanipulated price. Sort of like but for the wicked manipulation I would have exercised my right to sell and would have sold. In addition, this behave is so outrageous that it "shocks the conscience" and the only fair punishment for that is massive punitive damages to be paid to the owners of physical silver.

Dec 8, 2016 - 4:26pm

CFTC silver investigation

It is not true that the CFTC reported that they found nothing, even though that has been reported and continues to be reported to this day.

I can't be bothered to once again check their carefully crafted and parsed sentence that informed knowledgeable folks what they found. It went somewhat like this; based upon the evidence and the law as it exists at this time we find no basis for action.

This finding has been interpreted that a major bullion bank has been carrying out the needs of government using the ESF for funding, that this activity is lawful and indeed is mandated for the ESF.

Dec 8, 2016 - 4:22pm

And fwiw

That's another green candle on the daily HUI chart.

Dec 8, 2016 - 4:18pm


Thanks for the advice Billhilly. I've just been watching the VXX but it doesn't seem to have any reliable support, resistance or patterns and just seems to do it's own thing. As such I'm staying away from it.

Re. the USD/JPY - I'm hoping that third failed high was the end of a Triple Top and it's headed South now. I thought that pennant it made today was going to break up so was pleasantly surprised to see it move down below 114 (just).

If the POSX come's back down below the 100.7 H n' S neckline, then I'll be smiling.

Good that GDX and $HUI finished up (just - again).......but I'll take that.


Dec 8, 2016 - 4:15pm

Cartel Shills and Apologists

I see that they're out in force today...taking to twitter and making the straw man argument that since the collusion and manipulation was occasionally to the upside, this entire issue is somehow voided.

How utterly predictable and pathetic but whatever. None of their bullshit will effect the ultimate outcome of these accumulated cases.

Dec 8, 2016 - 4:11pm


These are more than your run-of-the-mill class actions. I share your sentiments regarding THOSE.

But the silver, and then gold lawsuits will severly impair the banks' stranglehold on Washington (and all other governments), as one after another bank, then politico is dragged kicking and screaming into the fracas. The rats will squeal, and the fingers will point, and the opportunistic lawyers and politicos will be relentless in their efforts to gain advantage from it. In fact, the whole basis of free markets and confidence in fiat will one day soon be in the limelight.

Watch out for war to cover it up, or minimise it into back-page then "gone" importance.

Ned Braden
Dec 8, 2016 - 4:10pm


Thunderlips is now a lobbyist for the HFT industry. Just another Washington insider who parlayed a few years in the bureaucracy into a 7-figure lobbying job.

All of the talk about "being on our side" was just a ruse.

Ferd Torgerson
Dec 8, 2016 - 4:09pm

Since the Subject of the CFTC Has Come up Again

Recall my two posts in November regarding supporting Craig Hemke to fill one of two open positions on the CFTC. I've even provided the text in the second link for anyone interested to copy and paste in an email to their Representative and Senators.

Would be good to take action on this if you have not done so already.


Subscribe or login to read all comments.


Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 8/10

8/10 10:00 ET Job openings
8/11 8:30 ET Producer Price Idx
8/12 8:30 ET Consumer Price Idx
8/13 8:30 ET Initial jobless claims
8/13 8:30 ET Import Price Idx
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Unit Labor Costs
8/14 8:30 ET Cap Ute and Ind Prod
8/14 10:00 ET Business Inventories

Key Economic Events Week of 8/3

8/3 9:45 ET Markit Manu PMI July
8/3 10:00 ET ISM Manu PMI July
8/3 10:00 ET Construction Spending
8/4 10:00 ET Factory Orders
8/5 8:15 ET ADP employment July
8/5 9:45 ET Markit Service PMI
8/5 10:00 ET ISM Service PMI
8/6 8:30 ET Initial jobless claims
8/7 8:30 ET BLSBS for July
8/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 7/27

7/27 8:30 ET Durable Goods
7/28 9:00 ET Case-Shiller home prices
7/29 8:30 ET Advance trade in goods
7/29 2:00 ET FOMC Fedlines
7/29 2:30 ET CGP presser
7/30 8:30 ET Q2 GDP first guess
7/31 8:30 ET Personal Income and Spending
7/31 8:30 ET Core inflation
7/31 9:45 ET Chicago PMI

Key Economic Events Week of 7/20

7/21 8:30 ET Chicago Fed
7/21 2:00 ET Senate vote on Judy Shelton
7/22 10:00 ET Existing home sales
7/23 8:30 ET Jobless claims
7/23 10:00 ET Leading Economic Indicators
7/24 9:45 ET Markit flash PMIs for July

Key Economic Events Week of 7/13

7/13 11:30 ET Goon Williams speech
7/13 1:00 ET Goon Kaplan speech
7/14 8:30 ET CPI for June
7/14 2:30 ET Goon Bullard speech
7/15 8:30 ET Empire State and Import Price Idx
7/15 9:15 ET Cap Ute and Ind Prod
7/16 8:30 ET Retail Sales and Philly Fed
7/16 11:00 ET Goon Williams again
7/17 8:30 ET Housing Starts and Permits

Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

Key Economic Events Week of 6/29

6/30 9:00 ET Case-Shiller home prices
6/30 9:45 ET Chicago PMI
6/30 10:00 ET Consumer Confidence
6/30 12:30 ET CGP and SSHW to Capitol Hill
7/1 8:15 ET ADP Employment
7/1 9:45 ET Markit Manu PMI
7/1 10:00 ET ISM Manu PMI
7/1 2:00 ET June FOMC minutes
7/2 8:30 ET BLSBS
7/2 10:00 ET Factory Orders

Key Economic Events Week of 6/22

6/22 8:30 ET Chicago Fed
6/22 10:00 ET Existing home sales
6/23 9:45 ET Markit flash PMIs for June
6/23 10:00 ET New home sales
6/25 8:30 ET Q1 GDP final guess
6/25 8:30 ET Durable Goods
6/26 8:30 ET Pers Inc and Spending
6/26 8:30 ET Core inflation

Key Economic Events Week of 6/15

6/16 8:30 ET Retail Sales
6/16 8:30 ET Cap Ute and Ind Prod
6/16 10:00 ET Chief Goon Powell US Senate
6/16 4:00 pm ET Goon Chlamydia speech
6/17 8:30 ET Housing Starts
6/17 12:00 ET Chief Goon Powell US House
6/18 8:30 ET Initial Jobless Claims
6/18 8:30 ET Philly Fed
6/19 8:30 ET Current Account Deficit
6/19 1:00 pm ET CGP and Mester conference

Key Economic Events Week of 6/8

6/9 10:00 ET Job openings
6/9 10:00 ET Wholesale inventories
6/10 8:30 ET CPI for May
6/10 2:00 ET FOMC Fedlines
6/10 2:30 ET CGP presser
6/11 8:30 ET Initial jobless claims
6/11 8:30 ET PPI for May
6/12 8:30 ET Import price index
6/12 10:00 ET Consumer sentiment

Recent Comments

Forum Discussion

by dangerkitty, 31 min 44 sec ago
by Cawaceva, 2 hours 30 min ago
by Tyrion, 3 hours 15 min ago
by 11IMIX, 8 hours 33 min ago
by 11IMIX, 8 hours 42 min ago