Search This Blog



"THE ONLY THING NECESSARY FOR THE TRIUMPH OF EVIL IS FOR GOOD MEN TO DO NOTHING"
--Burke

Wednesday, August 25, 2010

March 2010 Whistleblower exposes J.P. Morgan Chase [Asarco had a "$450 million Revolving Credit Agreement with J.P. Morgan Chase & Co] precious metals market manipulation

"A London trader walks the CFTC through a silver manipulation in advance"

..."On March 23, 2010, GATA Director Adrian Douglas was contacted by a whistleblower by the name of Andrew Maguire. Maguire is a metals trader in London. He has been told first-hand by traders working for JPMorganChase that JPMorganChase manipulates the precious metals markets, and they have bragged to how they make money doing so."
April 11, 2010 New York Post:
Metal$ are in the pits Trader blows whistle on gold & silver price manipulation by MICHAEL GRAY

"Maguire -- in an exclusive interview with The Post -- explained JPMorgan's role in the metals pits in both London and here, and how they can generate a profit either way the market moves.

"JPMorgan acts as an agent for the Federal Reserve; they act to halt the rise of gold and silver against the US dollar. JPMorgan is insulated from potential losses [on their short positions] by the Fed and/or the US taxpayer," Maguire said."

May 24, 2010
Serious manipulation’ Of Gold Silver Markets
"...Maguire rebuked the CFTC: “It is common knowledge here in London among the metals traders that it is JPM’s (JPMorgan Chase’s) intent to flush out and cover as many shorts as possible prior to any discussion in March about position limits. ....WND asked JPMorgan Chase to reply to Maguire’s charges. “We have no knowledge of who Andrew Maguire is,” Brian Marchiony, a spokesman for JPMorgan Chase told WND. “We have no comment on Maguire’s charges.”

No comments: