JP Morgan Whistleblowers Reveal Blatant Manipulation of Gold and Silver Markets

King World News reported Friday in a blockbuster interview with precious metals trader Andrew Maguire that 2 whistleblowers from JP Morgan approached him with evidence that their bank actively manipulated the price of gold in contrast to the protests and ridicule denying such allegations in the state and corporate owned media.

 

Maguire told Eric King that he, and subsequently the whistleblowers, supplied solid evidence to the Commodities Futures Trading Commission that JP Morgan actively suppressed the price of gold and silver when it was in their interests to do so - which is generally a 24 x 7 proposition.

 

Maguire supplied his evidence in 2010 while the 2 whistleblowers came forward in June 2012 under the protection of the Dodd-Frank Whistleblower Protection program to furnish the CFTC with evidence of criminal manipulation of the precious metals market.

 

Although the news is sensational, it simply confirms what we, and long before us the Gold Anti Trust Association, have reported for years. GATA has presented to the public and CFTC powerful prima facie evidence of market manipulation to which the criminal CFTC has turned a blind eye because it is owned by the banking cartel doing the bidding of the Fed and Treasury.

 

When trading freely, the price of gold is a sensitive indicator of the failure of the private banking cartel, often referred to as the Federal Reserve, whose policies are deemed inflationary or ruinous to the value of the currency. But Alan Blinder, former vice chairman of the Fed stated publicly that “it is the last duty of a central banker to tell the public the truth.” His policy statement has just been exposed for all to see the corruption of the government and the private banking cartel – not just under Ben Bernanke’s leadership, but also under all of his predecessors, especially Alan Greenspan.

 

The typical means of manipulating the gold market is through the use of naked shorts which are illegal for private citizens and institutions, but which the CFTC has legalized for bullion banks to which the Fed and Treasury grant the right to lease or sell the government’s owned gold, much of which was confiscated from private citizens by Franklin Roosevelt in 1933.

It is not just government owned gold which the banks lease. They have done so with sovereign gold, such as Germany's, which resulted last year in a demand for gold repatriation. The Fed, after telling Germans to take a hike on at least 7 occasions, finally relented by telling German officials that they could have some 300 tons of their gold within 7 years. The gold is simply not there and the Germans will NEVER see their gold.

 

In 2010, Maguire reported that Asian interests entered the gold market in a massive way after learning that the market was severely undervalued due to central and bullion bank manipulations. The recent revelations by Maguire on King World News are expected to fuel another frenzied bout of buying, evidence of which was seen in the afterhours market for gold on Friday which zoomed 20 dollars per ounce in heavy trading.

 

Although the news is astonishing enough, Maguire told King that the CFTC has refused to investigate any of the allegations even with overwhelming substantiation provided by the JP Morgan employees.

 

Maguire further revealed that 2 key banks, one of which was Goldman Sachs, were on the brink of collapse when the UK sold sovereign gold to bail out the bank.

 

The undesired side effect of this policy of suppressing gold is that it has whetted demand for physical gold which has been drained from the bullion banks as Zero Hedge has so ably reported, especially in the case of JP Morgan which has exited parts of the precious metals market.

The below market prices of gold and silver will result in the inevitable failure of COMEX and LBMA, which we predict will occur within 6 months. The only caveat to our prediction is that the private banking cartel provides insider information to the bullion banks as Maguire further revealed, which may enable them to ride the second derivative, so to speak, by which they may be able to very narrowly escape a complete collapse. But we have our doubts. They have certainly gone long in recent weeks.

 

We have long maintained that gold is in permanent and severe backwardation, the consequence of the Fed vigorously defending the dollar against its ruinous policies to benefit banksters and other criminal elements. The paper price of gold has been in an unprecedented state of backwardation while the physical price has been in this state for at least 2 years.

 

Jim Willie predicts that the price of gold will at some point go dark when the COMEX officially collapses, meaning that there will be no fixed universal price of gold because the 2 major cartels will have been broken and exposed for the corrupt organizations which they are.

 

The end game is that physical gold holders will be massively screwed because the bullion banks to whom they have entrusted their physical gold will cash them out. Although this is illegal for allocated accounts, unallocated accounts such as those found in  GLD and other ETFs are fully within their contract rights to cash out account holders, meaning that the dupes who thought they owned gold will get a big surprise such as when ABN Amro stole the gold of their customers by closing the gold window. It's cousin is the bank bail-in - a topic for another post.

 

Willie has reported about extensive lawsuits in Switzerland where massive gold thefts by the bank owned government have caused outrage among their "customers." These so-called customers will NEVER see their gold again.

 

The end game is the dollar, and ultimately it is a doomed currency. In the meantime, the Fed, Treasury, and CFTC are in wholesale collusion to pretend otherwise.

Reference

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2013/9/14_Andrew_Maguire.html

Copyright 2013 Tony Bonn. All rights reserved.

The End of the American Century

The United States is finished as a great power, its wealth having gushed to the East in a torrent taking little more than 3 decades. The genesis of the destruction goes back to 1913 but the hand writing on the wall appeared in 2008.

 

As difficult as it is to prepare for a 3 page blog posting, we will adumbrate a picture of the decline and fall of the United States of America, an act which required one Biblical generation of 100 years beginning with the establishment of the Federal Reserve System in 1913, perhaps the key inflection point in American history.

 

The significance of the Federal Reserve Act is that it represented a coup against Constitutional government which explicitly provided for the usage of gold and silver as money. Yet the tyrants of Wall Street wanted their own currency as money – nothing more than scrip based upon debt. Contrary to what most naïve – if not stupid – Americans believe, the Federal Reserve is a private entity which only answers pro forma to Congress. It is a willful independent body of financial hyenas who control the value of money by whim.

 

The significance of the Federal Reserve cannot be overstated. It provided for the financing of World War 1, a war which served no legitimate purpose for peace loving Americans. It did provide an entre to Europe which the US banksters used to colonize Germany.

 

The other significance of the Federal Reserve was that US law gave a private corporation the right define and price money. The effects of its administration have been a constant decline of the value of the dollar which has only benefited the wealthy and a stream of endless wars. Those without pricing power in the market are doomed to impoverishment, a fact which statistics make abundantly clear.

 

For example, the USA used to have the highest per capita income in the world. Today it is 14^th. Boohoo you might say, but this affluence supported the broad distribution of jobs and income and the consumer debt-slave economy. Without that wealth, the USA economy becomes a neo-feudal society where 47 million people are food stamps - and rising rapidly.

 

Wall Street’s suzerainty over Germany has never ended as it established Adolf Hitler in power through the agency of Prescott Bush, Averill Harriman, Henry Ford, the Rockefellers, and other citizens of the world who disdain constitutional self government. World War 2 was not accident and could not have been financed without the largesse of the Federal Reserve. Its ability to print money on demand funds a great military industrial complex.

 

The same wall street cabal which produced World War 2 murdered President Kennedy, produced Vietnam, the inflation and oil crises of the 1970s, deindustrialization of the 1980s, the gold divestiture of the 1990s, and the Nazi state of the 2000s through the hoax of 9/11. Indeed the Third Reich has ruled for 100 years.

 

The prompting of this brief précis on American history over the past 100 years was occasioned by an interview with Andrew Maguire, a veteran precious metals trader, who informed listeners through an interview with King World News that the recent takedowns in the price of gold were desperate last acts of the financial elite in New York and London to prop up the value of their fraudulent currencies. We reported recently the defaults at the LBMA but they have since intensified on several accounts. The most significant may be the lengthening of the delivery period of LBMA good delivery bars from 2 days to 5 days, a very ominous sign of the shortage of gold. Maguire also reports that the LBMA, which had been bailing out insolvent bullion banks by lending them gold – somewhat as a discount window at the Fed – has ceased providing this service because it can no longer obtain the gold.

 

The Gold Forward Lease Rate (GOFO) has gone negative and indicates a pronounced backwardation of gold, an extremely rare event. Antal Fekete has written extensively on the interpretation of this phenomenon, but to summarize it ever so briefly, it means that the fiat regimes are finished and there is no going back.

 

Maguire reported that massive quantities of gold have been sucked out of the Western central banks to the East, most notably China, and that it has gone into vaulting systems which do not permit short term storage. This means that the gold has gone into hiding and will never return to the market in this generation.

 

The utter inability JPMorgan Chase in the form of the New York Fed to deliver German gold is additional evidence of the scarcity of gold and its backwardation – to say nothing of their complete repudiation of fiduciary responsibility and morals. The Swiss have been stealing gold from allocated accounts, another proof of the scarcity of gold and its backwardation. Jim Willie reported the huge premiums of 20-25% the LBMA was paying to liquidate gold contracts for delivery.

 

The Western banking system is operated by Nazis and a small band of foolish, criminal frat boys who squandered in one generation the substantial wealth once owned by the United States. Not only did they deliver industrial capacity to the Chinese – by design – but they also pissed away Fort Knox and gold vaulted anywhere else. He who owns the gold makes the rules.

 

With American wages falling for 4 straight years and a double dip of the 2008 depression having started in late 2012 or early 2013, the prospects for a turnaround are impossible. When it hits with full force, there will be no security net to catch anyone. All who have not prepared will perish as social order collapses. The bankruptcy of Detroit is an archetype of what future America has.

 

The Nazis in Wall Street and academia who rule America are deeply engaged in Satanic rituals and include some of the most blood curdling acts imaginable in places such as Bohemian Grove as we reported in our story on the Midwest sex ring operating out of Omaha Nebraska.

 

The gold backwardation phenomenon hit hard because it is the sentry announcing the collapse of the dollar and all fiat currencies everywhere. However, the Nazis have taken much of the Ft Knox gold and will have abundant means to continue their quest for One World Government elsewhere.

 

The United States has enormous military power which it uses like a bully everywhere to take by force what it cannot achieve through peaceful just means. Its vast surveillance program is without limits or oversight and can extend for a considerable time the control which the Nazis have over the world. However, people of this country are without recourse because they gave away their birthright in order to have corporate socialism, a Faustian bargain if ever there were one. As Thatcher said, “The problem with socialism is that you eventually run out of other people’s money.” The people of Detroit know that all to well.

 

However, the loss of reserve currency privilege – exorbitant as it is – will undermine the military, causing the Nazis to become ever more desperate in their attempts to hold back the waters at the dam. Eastern and Emerging Bloc nations are well along the way in establishing a non-dollar trading system, a threat as dangerous to Nazi control as any military threat.

 

We do not use hyperbole in referring to the plutocrats as Nazis. We mean that they are power behind the throne going back to World War 1 and post-war Germany where they established Adolf Hitler to grab state wealth for private ends. But we should also quickly note that not all wealthy people are evil. Many of them are normal decent people. However there is a very small cadre of them, along with their academic and governmental fellow travelers, whose contempt for freedom and self government is boundless.

 

The loss of gold and its backwardation sealed the fate of the USA. Lehman was the handwriting on the wall, after which witnessing Belshazzar partied on through the night until Persian forces took Babylon that very night. So Obama – a tool of Wall Street – continued his trillion dollar deficits as far as the eye can see, funneling fabulous wealth to the Wall Street Nazis and the Far East.

 

Thus the Neo-con cabalists have boasted in their disgusting Project for a New American Century deeds which they will not achieve short of violence, bloodshed, and war. They are wicked to their very core.

 

While many will dismiss our analysis as histrionics of a rather rabid variety, we state the reason for our pessimism due to the loss of wealth in gold and industry. It cannot be repaired with traitors governing the nation, and its people are too drugged to see the problem or its solution. We face an Argentinian future if we are fortunate.

 

We have no specific advice other than to get gold – with all thy getting, get gold.

Reference
Interviews with Andrew Maguire, King World News, July 19-20, 2013

Copyright 2013 Tony Bonn. All rights reserved.