Whistle Blower Comes Forward With Solid Proof The Price Of Gold And Silver Is Being Manipulated By Major Financial Institutions

The "CFTC" that is referred to below is the Commodities Futures Trading Commission, an "independent agency of the United States government" whose (who's?) stated mission is to "protect market users and the public from fraud, manipulation, and abusive practices related to the sale of commodity and financial futures and options, and to foster open, competitive, and financially sound futures and option markets."

Whistle Blower Comes Forward With Solid Proof The Price Of Gold And Silver Is Being Manipulated By Major Financial Institutions

April 12, 2010
in Analysis, Economy, Intelligence
By Michael T Snyder

...

Back in November 2009, Andrew Maguire, a former Goldman Sachs silver trader in Goldman’s London office, contacted the CFTC’s Enforcement Division and reported the illegal manipulation of the silver market by traders at JPMorgan Chase.

...

On February 3rd, Maguire gave the CFTC a two day warning of a market manipulation event by email to Eliud Ramirez, who is a senior investigator for the CFTC’s Enforcement Division.

Maguire warned Ramirez that the price of precious metals would be suppressed upon the release of non-farm payroll data on February 5th. As the manipulation of the precious metals markets was unfolding on February 5th, Maguire sent additional emails to Ramirez explaining exactly what was going on.

And it wasn’t just that Maguire predicted that the price would be forced down. It was the level of precision that he was able to communicate to the CFTC that was the most stunning. He warned the CFTC that the price of silver was to be taken down regardless of what happened to the employment numbers and that the price of silver would end up below $15 per ounce. Over the next couple of days, the price of silver was indeed taken down from $16.17 per ounce down to a low of $14.62 per ounce.

Because of Maguire’s warning, the CFTC was able to watch a crime unfold, right in front of their eyes, in real time.

So what did the CFTC do about it?

Nothing.

via inteldaily.com and thedaytheytriedtokillme.com

There's much more in that article, but I recommend Googling both the name "Andrew Maguire" and "William Murphy", chairman of Gold Anti-Trust Action, and see what you find. I've been down enough conspiracy avenues in my day to know not to trust a story like this on its surface--especially since Googling this stuff myself, I've found some of the familiar conspiracyish sites popping up.

That said, conspiracy theories aren't always wrong and, in fact, some are for real and all too influential on our lives (COUGHfederalreserveCOUGH). The thing is, no one in the MSM is picking it up. That means that there is nothing to this story or the MSM is just ignoring the story because it's either a) thought to be too brain-intensive for their audience b) a story they don't understand the ramifications of, or c) actually conspiring to keep this story quiet. My (imaginary) money is on options a & b.

GATA.org certainly believes gold is a scam, but who the hell are they? They testified so they're not some fly-by-night org, but these days, is there anyone trustworthy??

Honestly, after all of the recent economic nightmares, I can't help but feel oddly satisfied that I don't have a lot of money and don't invest. Of course, this assumes it's for real.

I gave up trying to prove conspiracies a long time ago. All I know for sure is that, whether or not there is one (or several), we're certainly seeing the effects of one (or several). How else does the vast majority of wealth and power in the world end up so concentrated?

Posted via web from thepete's posterous