I have been telling Bill Murphy, Chairman of GATA, repeatedly that his email bombshell at the CFTC silver market hearings two weeks ago ripped the tightly sealed lid off of Pandora’s Box with regard to the extreme fraud and manipulation in the gold and silver markets.
Although the whole episode, and the implications of what was revealed, has been overtly covered up by the mainstream financial media in this country, the story and the related facts backing up this story have been getting widespread attention globally. In fact, Murphy was scheduled to have interviews with Bloomberg and CNBC Asia after the CFTC hearings, and those interviews were abruptly cancelled by those two networks.
Well the Rubicon has been crossed – “alea iacta est” – “the die has been cast” (Julius Caesar) – we have reached the point of no return and what is about to unfold cannot be stopped.
The New York Post has published the Andrew Maguire silver manipulation story, including some of the emails Maguire exchanged with the CFTC outlining exactly how and when JP Morgan silver traders would manipulate the market and create huge windfall, albeit illegal, profits. The CFTC was going to bury those emails. But Maguire sent them to GATA after it was made clear to him that the CFTC was going to bury them. Bill Murphy then read them verbatim at the CFTC hearing two weeks ago, much to the obvious surprise and horror of Gary Gensler, chairman of the CFTC.
Here is the NY Post story in all its glory. Word to me from a very good friend of mine in NYC who knows someone at the NY Post is that JP Morgan went “all out” to try and prevent this story from being published. I guess it’s true that we’re as guilty as our darkest secrets:
Metal$ are in the pits -Trader blows whistle on gold & silver price manipulation
“There is no silver lining to the activities of JPMorgan Chase and HSBC in the precious-metals market here and in London, says a 40-year veteran of the metal pits.
The banks, which do the Federal Reserve’s bidding in the metals markets, have long been the government’s lead actors in keeping down the prices of gold and silver, according to a former Goldman Sachs trader working at the London Bullion Market Association.
Maguire was scheduled to testify last week before the Commodities Futures Trade Commission, which is looking into the activities of large banks in the metals market, but was knocked off the list at the last moment. So, he went public…”
Here is the link to the full story: JP Morgan and Illegal Silver Market Manipulation
Anyone who has looked at all the evidence compiled by GATA over the past 12 years http://www.gata.org/, and who reads this story in the NY Post and STILL does not believe that the gold and silver markets are fraudulently operated by the big NY and London banks is also the same person who believes that OJ Simpson is innocent.