I had wondered what dirt the plaintiffs had on HSBC as the Silver market rigging controls were handled by JPM whereas the GOLD rigging is run primarily run by HSBC. This is evidenced by JPM being the custodian of the large silver ETF and HSBC being the custodian of the large gold ETF. Both these setups try to give the look of legitimacy to the over-sized paper short positions these companies hold on the COMEX.
Of course it's a fraud and the poor suckers who own these ETF's will LOSE in the end. And when these ETF's are shutdown and the investors paid out in cash where do you think all that money will go...
ALL THAT ETF MONEY WILL BE CHASING REAL PHYSICAL GOLD AND SILVER DRIVING THE PRICES EVEN HIGHER!
Of course "they" will claim the closing of the ETF's will flood the market with physical metal BUT WE KNOW DIFFERENT. No doubt they will unleash their tidal waves of paper metal derivatives to flush out the paper longs but THAT'S WHY it is so important to hold non-leveraged physical metal in your own possession as the volatility will be OFF THE CHARTS!
The announcement of this change in the class action suit comes at a very important time in the silver manipulation story. First of all, CFTC Commissioner Bart Chilton said that if the CFTC hadn't said anything about the silver manipulation by the end of September that he would. Is it coincidental that this news of tightening up the loose ends of the class action suit has come out right before a CFTC announcement? I guess we'll know soon enough.
But more importantly...we are very close to the BIG CRASH and the Good Guys know that a SILVER MOONSHOT would level the FINAL BLOW against the Banksters. Taking out JP Morgan will easily set off the Derivative "Weapon of Mass Financial Destruction" because they are the largest derivative holder in the world with over $70 Trillion Dollars worth of the toxic sludge!
I often get emails from people asking what they can do to help the Good Guys take back our country. Most of the time I say "HELP SPREAD THE WORD!" It is imperative that we educate the ordinary people of the world about what goes on behind the scenes.We will need EVERYONE to stand up to our controllers and say "NO MORE!"
But there is another way to help the Good Guys and that is by making a donation to Ron Paul's 2012 Presidential campaign. If there is ANY hope for our future we will have to turn the reigns over to someone who understands what the United States of America was MEANT to be...and Ron is as close as we come.
Below is a link to donate to the latest Ron Paul "Money Bomb". Ron will not get the backing of the BIG MONEY donors because his victory would mean the end of their control BUT if enough "little people" help support Ron with small donations then WE THE PEOPLE will finally have a say in our future!
CFTC's Division of Market Oversight Provides Temporary Relief from Large Swaps Trader Reporting for Physical Commodities
Washington, DC - The Commodity Futures Trading Commission's (Commission's) Division of Market Oversight (Division) today issued a letter providing temporary relief from the requirements of the Commission's regulations regarding large trader reporting of physical commodity swaps (§§20.3 and 20.4). Because this is the first time that swaps data is being collected, this temporary relief is intended to provide sufficient time to enable both the industry and the Commission to develop and refine systems and processes that will be able to report these complex transactions.
On July 22, 2011, the Commission published large trader reporting rules for physical commodity swaps and swaptions. The rules require daily reports from clearing organizations, clearing members and swap dealers, and become effective on September 20, 2011. The letter issued today provides temporary relief from reporting, as long as parties are making a good faith attempt to comply with the reporting requirements, until November 21, 2011, for cleared swaps, and January 20, 2012, for uncleared swaps. Upon the conclusion of applicable relief periods, such reporting parties must become fully compliant. END *******
So what does this tell us besides that the CFTC is a bunch of fearful, sniveling wimps? It tells us that the banking cabal is STILL in deep trouble with their gold and silver swap portfolio and need a couple more months of price rigging to try and get out of the mess.
I can't stress enough to hold your gold and silver in the physical form and outside of the reach of the banksters. We have entered the "Hot Zone" on the Road to Roota and the Bad Guys are going to pull out all the stops to protect their corrupt world. That includes trying to destroy the price of gold and silver. Read this article about the FSA looking into the risks that ETF's pose to the financial system and then I will have some comments:
1) The price of both metals is 100% rigged every day. They can place the price at $1M/oz or $0/oz with a stroke of a computer key. If you want to SURVIVE the coming chaos you MUST put yourself in a position where price does not matter. This means keeping your metal OUTSIDE of the financial system. No ETF's, no metal certificates, no mining stocks, no safe deposit boxes...nothing that will force you to sell or be confiscated without you putting up a fight.
2) The gold and silver ETF's were a con-job from day one and may be the Bad Guys LAST CARD in the destruction of the price of the precious metals. At any moment, both of these ETF's can be dissolved for a myriad of reasons giving the Bad Guys the perfect cover to go for one final all out computer rigged metal slam. If you would be emotionally devastated with crash of silver to $5 and gold to $300 then you are not thinking about your investments properly. It should be a moment to celebrate as it would mean we are close to the END of their games.
3) The key is to be able to ride it out. If it lasts a week or a month or six months you must be prepared to wait them out. And it may not come by itself. It will likely come with the crash of the rest of the system as well. Have 4-6 months of supplies (food, water, protection, a plan) and get to know your neighbors as they will be your new community.
4) And what if the opposite happens?? What if gold and silver both take off to $10k/oz or $100k/oz destroying the financial shorts...and thus the entire financial system? Just think of the massive chaos in that scenario with EVERYBODY losing EVERYTHING that was not a real physical asset. You would hear cries of nationalization and confiscation from ALL CORNERS OF THE WORLD. Which scenario is better?
Remember...WE ARE IN THE HOT ZONE ON THE ROAD TO ROOTA!
But rest assured that there is a LIGHT at the end of this very dark Road. There is a plan to restore our Constitutional money and right all the wrongs of the last 100 years....It just won't be pleasant getting there.
Call it fate but while working on this week's Friday Road Trip I had linked the R.E.M. video "It's The End of the World As We Know It"... then today comes the announcement today that R.E.M. (the band) is officially breaking up!
Here's the video that I was going to link and it sure looks to me like a potential future especially as the CRASH intensifies...
Hopefully you have taken my advice and gotten OUT of the financial system and are sitting on the sidelines with a pile of silver and gold coins. You can bet that JPMorgan and the banking cabal are covering their shorts like mad on this COMPUTER DRIVEN decline in gold and silver. How low will it go??? Nobody knows but understand that the price can be placed ANYWHERE because it is all controlled by computer programs which trade back and forth to itself. 100% Rigged. Every day and every trade.
Know this: The rigging of the gold and silver markets will end soon...but be careful what you ask for!
For all you Private Road Subscribers you can just follow these two articles as they are looking VERY accurate:
At first I thought they might be related to the London Metal Exchange but they are not. Just similar names. Here's the description of the London Gold Exchange from Wikipedia:
"London Gold Exchange is a digital currency exchanger founded in 2001. The London Gold Exchange is owned by LGE International LTD., an offshore company registered in Belize, with offices in London, England and Hong Kong. London Gold Exchange operate 2 franchises, one in the UK and one 'International' which covers everywhere other than the UK. The UK administration office in Central London, with staff based in locations around the UK. The International administration office is in Hong Kong, with staff also operating from mainland China. Technical staff also operate from locations in Australia."
Yes. This was a DIGITAL gold exchange playing in the gold DERIVATIVE markets. From other articles the London Gold Exchange claimed to be the LARGEST e-gold exchange in the world.
This surely can't be good news for their customers or the COUNTER PARTIES on the other end of these paper/electronic gold derivative transactions. The ripple effect of an implosion of gold and silver derivatives will set off the long awaited "Weapon of Mass Financial Destruction". I doubt this will be big enough to start the crash but it is definitely a sign of things to come.
Then again, there is not much difference between an e-DIGITAL market and the COMEX market as both are just electronic derivatives of gold and silver. It's possible that September will be the largest volume month for COMEX silver in history... meaning north of 3,000,000 contracts traded representing over 15 Billion Ounces of SILVER! To add some context there's only about 30M ounces of physical silver available for delivery in the COMEX warehouses which represents a 500-1 ratio of paper trades against physical silver available for delivery in the month...and this is how the price is set for physical commodities in this age of paper Ponzi Schemes.
I know it is difficult to ride out these slams but this IS the end game so...
Obviously, it looks like we are going to have to EARN the future rewards on our physical gold and silver investment once again. So be it!
We saw it coming long ago and IF you survive another few months with your METAL IN HAND then you will be one of the ONLY investors in the world to have preserved their wealth after the CRASH.
Keep and eye out for the END of the THIRD quarter as there should be MANY surprises in OCTOBER.
For those of you sweating this one just pop this in your mouth!
We are very close to that Day of Reckoning so hopefully you have removed yourself from the electronic banking system and are prepared for anything.
As predicted, the "Occupy Wall Street" movement has gone mainstream at just the right time. The numbers are growing everyday. Although the media says "they have no focus" there is about to be a very clear focus...removing the Banksters who caused the crash! Watch this movement grow exponentially in the months ahead.
Here's what I wrote on Friday related to the DEXIA issue...
"One of the largest derivative players in Europe is imploding as we speak. This will destroy ALL derivative markets across every continent. Watch for a bailout followed by massive market manipulation next week... followed by a total collapse."
The bailout happened as expected this weekend and now we are in the "massive market manipulation next week" part. Stock markets are being pumped up by the banksters to hide the truth and to support the world's financial system a bit longer...but it will fail.
After this comes the "total collapse".
Clif High of www.halfpasthuman.com has posted an update on his website related to his predictions of when the REAL chaos will start. You can find it here:
"Our data suggests that the most likely target date will be October 17th (a Monday), after very shocking developments emerge on October 15th."
This falls right in line with my "Time Line" article that I wrote back in July:
"The markets may start to seriously convulse by late September/early October with the realization by the public that there never was a real recovery and it was all the hocus-pocus of Larry Summers and Austan Goolsbee with their "Behavioral Economics Model".
What follows will be the total and complete destruction of all paper and electronic "assets" over a period of chaotic months. All the pieces are in place to take down the banksters once and for all but it won't be pleasant. It's more like ripping off a bandaid.
Here's a very important article back in January...
I debuted this video after my speech at the 2011 Silver Summit and it was met with rousing applause by a rabid crowd of silver investors. When I pooled the crowd as to who believed that the price of silver was being manipulated 99% of them raised their hand!
The timing of this couldn't be more perfect. Dunn cast the deciding vote on Position Limits and now he is out! Dunn was a joke of a Commissioner but Wetjen is the REAL DEAL! Along with Gensler he wrote the commodity law portion of the Dodd-Frank Law.
PS - Just listened to Jeffery Christen's presentation at the Silver Summit and came away with 2 DOOZIES. 1) He has upped is previous "faux pas" of admitting 100-1 gold trading leverage on the LBM to 400-1 but he says it doesn't matter! 2) Christian claimed that the "Drive By Shooting" in May was caused by a change of trading positions on the COMEX....WHICH IT WAS! Of course, under US Commodity Law it is ILLEGAL for prices to be SET on the COMEX! The futures and options contracts can only be a "price discovery mechanism" and not a "price setting mechanism"!
I've gotten a couple questions related to my last email statement "Word out of Europe is that the banks derivative books have been DESTROYED".
I did not mean that they have been physically destroyed (as in shredded) but rather there has been massive counter-party defaults causing a chain reaction in derivative defaults. You will begin to see it as banks announce "out of the blue" losses that nobody had any idea that specific risk was even in their portfolio because they were not reported.
I will be posting the second half of my Silver Summit speech next week but here's the part on derivative risk and how counter party failures can destroy financial markets. This is also the reason why Bank of America is trying to pawn their $50T derivative book off on the FDIC...
*Definition - A derivative instrument is a contract between two parties that specifies conditions under which payments, or payoffs, are to be made between the parties. It's like a side bet. Futures, options, swaps, leases etc are all derivative contracts.
The concept behind derivatives is to allow a company to hedge their risk. For example, to hedge a credit risk of a bank loan a lender can purchase a Credit Default Swap contract that will payout if the borrower defaults. Hedging risk is a good thing right? Not always. In reality the risk of default does not go away but rather is transferred to another party and a new risk is created in the form of a counter party risk of the CDS issuer defaulting. The issuer of that CDS can hedge their new risk by purchasing a CDS from another issuer and so on. Although the initial concept of a derivative is to hedge your risk, the more and more derivatives that are created off the first transaction greatly increase the total risk is to the overall market.
In the last 20 years derivative contracts have ballooned into the hundreds of trillions of dollars on a notional value basis. In 2008 the inherent danger in this growth in overall risk became painfully apparent with the global crash of the financial markets.
Warren Buffet was correct in identifying derivatives as "WEAPONS OF MASS FINANCIAL DESTRUCTION".
If there was any one person to blame for the 2008 financial crisis it was a woman named Blythe Masters out of the JP Morgan "Financial Products Division" in London. She was the creator and promoter of the Credit Default Swap market and built it up over 15 years into a monstrous 50 Trillion dollar market by 2008 when it all fell apart. The destruction this amount of "risk hedging" ended up costing the world was almost incalculable. Today, even after all the losses and bankruptcies, the Credit Default Swap market stands at over 30 trillion dollars.
So what ever happened to this woman who destroyed the world's financial markets with derivatives...
The rest of the speech will be posted on the website next week.
Kitco has posted the Murphy vs. Christian manipulation debate. Although I have not been a huge fan of Kitco in the past I tip my hat to them for offering up this debate and posting it without editing. WAY TO GO KITCO!
"The idea of a central bank manipulating world markets packs an increasingly powerful emotional punch with voters."
It is also very noteworthy to mention that Ron Paul will be starting a FULL FORCE media blitz spending about 1/2 of his total contributions starting next week. Could it be that he KNOWS when the real trouble is going to start? For you Private Road Members refer back to the following special report:
I received a few emails asking "is it safe to go back in the water" when it comes to investing in silver if the official computer rigging programs really are "turned off".
My answer is NO!
There are MANY public and private companies with market rigging capabilities so it's far from over. Unfortunately, the true "Fair Market Value" of silver will not be realized until the silver derivative markets (COMEX & LME) are shut down for good. Nothing is safe right now except holding physical silver in your own possession. If silver takes off and starts gaining $5 or $20 per day the likelihood of the COMEX and LME shutting down trading is 100%. The same goes for silver being "flash crashed" down to ZERO and then shutting down those markets.
You need to be able to RIDE OUT ANYTHING and the only way to do that is STAY OUT OF THEIR SYSTEM!