Abject Corruption

Please be sure to read this free, public post.

Tue, Sep 17, 2019 - 10:22pm

By now, you've heard of the indictment of three, key JP Morgan employees and the charges of precious metals market manipulation. Well, I've just unearthed a nugget that will leave you speechless.

If you've been around here for a while, you'll recall my secondary role in 2012 of assisting Andrew Maguire in his quest to end the Banks' ongoing gold and silver price manipulation. Though Andy had direct evidence from two whistleblowers inside JPM...and though this evidence was officially and legally summarized and submitted to the CFTC in August of 2012...the CFTC sat on the case. Their official "silver manipulation investigation" had dragged on to its fourth year and no end was in sight.

Then, in September of 2013, the CFTC suddenly closed the investigation and declared that there was "no viable basis to bring an enforcement action". See this: https://www.cftc.gov/PressRoom/PressReleases/pr6709-13

The timing of this was suspect because just one day before, Andrew Maguire had appeared on The Keiser Report to disclose the information that the CFTC was seemingly ignoring. The video is below. The TFMR link posted the next day is here: https://www.tfmetalsreport.com/blog/5087/am-mk

OK, so let's get back to that CFTC press release from the day they suddenly closed the investigation. Note that the investigation was handled by the CFTC's Division of Enforcement:

During the investigation, the head of the CTFC's Division of Enforcement was a man named David Meister. In a curious development, Mr. Meister quit the CFTC just one week after the silver investigation was closed. https://www.cftc.gov/PressRoom/PressReleases/pr6735-13

But there were no worries for Mr. Meister as he soon landed on his feet at the law firm of Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates. https://www.skadden.com

And so NOW is where we bring all of this full circle...

Please see this CNN summary of the DoJ indictments of Monday: https://www.cnn.com/2019/09/16/investing/jpmorgan-precious-metals-price-...

Did you catch it? If not, here's the excerpt you need to see:

So, in summary...

  1. The Enforcement Division of the CFTC runs a five-year investigation into silver price manipulation, only to immediately close the investigation once presented with irrefutable whistleblower evidence of said manipulation.
  2. The head of the Enforcement Division, David Meister, quits the CFTC within a week of closing this investigation.
  3. Meister then takes a job with Washington law firm, Skadden LLP.
  4. Skadden LLP has been retained by Michael Nowak, former head of the JPMorgan precious metals desk, as his defense attorneys. The lead attorney defending Nowak is David Meister.

And there you have it. Abject corruption that is in your face and undeniable with another case of the Financial-Political Complex protecting its own.


About the Author

turd [at] tfmetalsreport [dot] com ()


Sep 17, 2019 - 11:17pm

Rate cut Smash?

I have been cutting my exposure to to shorter term Miners Futures , the recent smash in prices has cost me 2/3 rds of my gains since June. This money will end up in some traders bonus end of this year.

Ideally, I would like to be out of all futures right now and own the stocks direct, selling call options instead to profit from any downside if it comes. Once the storm is over I would return to long position again in anticipation of the next Bull leg up.

Sep 17, 2019 - 11:24pm

Crazy Ivan


CREDIT EVENT try to buy options on LONG OIL- LOL...

I think the FED will have problems getting BAGMEN when their friends are being BUSTED by the POLICE FEDS.

Sep 17, 2019 - 11:33pm

JPM Manipulation of precious metals markets

It never ceases to amaze me how long it takes for real stories to finally break in the USA. Stuff that is out there for ten years in this case, or a year or more, suddenly becomes the big news today.

Millions are at risk of dying of starvation in Yehman, yet it has yet to hit the news cycle. It will be big news, somewhere in the future, after most have died.

CBS News with Norah Odonnell just ended their 10 day series on vaping (including repeating the exact stories on weekends cause their too lazy to work the weekends), like it is a world crisis, praising her reporting team and giving her stupid comments after each story.

Walter Cronkite must be spinning.

Sep 17, 2019 - 11:34pm


preceded the Lehman crash by just a few weeks.

The earnest and aggressive suppression of silver down to $8 an ounce during the days leading up to Lehman apocalypse was, in my opinion, a desperate attempt by JPM, the Fed and Treasury to divert attention from what was clearly evident in The Big Short and Margin Call.

Christian Bale played Michael Burry and Steve Carell playing Marc Baum/Steve Eisman. They both discovered the CDO leverage and the abject corruption in the mortgage market, foretelling an immense crash of what we could call the Everything Bubble of 2008.

Suppressing the precious metals is now going on in the most viscious and blatantly illegal way. But just as criminals who think they operate with impunity, there a new sheriff in town.

Price rigging was so much so that the JPM traders are being charged and indicted. There's even a legal service to help people get some relief from the PM rigging losses. I tally mine in the low 7 figures. The party's over more or less.

If there is a bellwether in the markets right now it's metal pricing. Once again gold and silver are being called on to do what they do best. Expose the lies that the DEBT FIAT PONZI SCHEMEis sound.

It's both the universal tell of impending financial disaster which is shown in the repo and respective pricing markets failure as liquidity dries up along with UST bond sale repricing during a cash crunch from the government shutdown at the USG checking account level.

The quant quakes of the last 3 weeks coupled with that incredibly dramatic rise in 2, 10 and 30 year UST over the last week ,up from an also unprecedented and rippingly fast drop in rates in the prior weeks tells me there is an extreme rate, yield, pricing problem in the $100 trillion bond market. The governments everywhere are running huge deficits. NIRP doesn't sell bonds needed to run the USG. It's a small part of the problem, around $800 billion but it's showing liquidity problems in the best markets.

The market is not shattered YET but all the king's horses and all the king's men ( calling CGP) are having a bitch of a time keeping it intact. The dike is leaking from a dozen major fissures and there are not enough fingers to plug them.

My tiny pea brain can't Grok this in an intellectual way but I read the words and they tell me what my gut's been telling me for 10 years. I've been in the financial world for 45 years; been through 4 major crashes including the 2008-9 Lehman ELE. While being a bit slow on the uptake I did what I could to G.O.T.S

The system was damaged beyond repair back then and only a hundred trillion in QE and 20 times leveraged derivatives have kept the edifice together.

Greece, Cyrprus, Ireland, Scotland, Iceland and other small sovereigns got hammered and then looted to plug holes in the dike. JPM has been there each time along with GS, MS, ECB and DBank to gobble up the offal that spilled from a dozen deep cuts in the guts of these countries, bailed in on the backs of the proles who didn't see it coming and were left as collateral damage while desperate repair efforts were made to fix a broken system.

Now we are at least half an order of magnitude past the $25 trillion of QE crunchiness and swaps that saved Europe and the US while leaving the same people in charge, the same banks running things. See the list of the top banks that got at least $1 trillion in bail in money. $16 trillion handed out like it was lunch money. Sheesh!.

They didn't stop gambling.

Instead, they leveraged that $16 trillion doled out by the Fed in 2008, margined it 10 to 1 while paying obscene salaries, bonuses and stock buy backs.

By taking those funds they leveraged the certainty of their fractional reserve banking bankruptcy to $160 trillion or more while scraping their 3% off the top using free money. Money for nothing and the chicks for free.

The day of reckoning could be tomorrow, October or early next year. Maybe we'd see a 3000 point crash in the DOW, loans and credit lines lock up without notice. Yet gold and silver, as they climb the wall of worry, are still repressed.

But if enough traders see their little game is coming to an end, possibly in a prison cell, and 9 of the 10 trading banks involved in gold and silver metals are out, there may be lots of chairs to sit on when the music stops. But there might be no banks to occupy the empty seats

I'm still long junior miners and a boat load of silver and gold, content to bide my time and watch the movie. It's coming to a theater near you soon

Hell, I feel like Burry as I hold my deeply underwater juniors.

Sep 17, 2019 - 11:35pm

Why the Government is Going After JP Morgan

My two cents:

The criminality is becoming too visible, and the natives (investors) are getting restless. "They" (JPM) probably sense that all of this is about to come out anyway, so they want to be proactive. This ends up a win-win for both sides -- not you, you schmuck -- the banksters and the gubmint. We're not even in the equation.

Big hoopla about a price fix, JP Morgan pays it's usual fine (nobody goes to jail), the gubmint gets some more fiat to spend on blowing up shit in some remote desert, and the public (who has a memory retention just short of a gnat) quickly forgets all about it, and moves on to what the Kardashian's are doing . . .

Sep 17, 2019 - 11:36pm

Its not illegal

Nixon says, "...but when the President does it, that means it is not illegal..."
Sep 17, 2019 - 11:42pm
Sep 18, 2019 - 12:17am

DOJ: The Beginning?


(Of justice)

"Place ur bets!"

Island Teal
Sep 18, 2019 - 12:41am


Things are going to be better tomorrow. Tomorrow is National Cheeseburger Day

Sep 18, 2019 - 12:48am

creepy and sleepy Joe is.....

Going to put 750 million women back to work with his proposed tax policy....

how bad does it have to get before the people take to the streets?

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