Identities of Silver Manipulators Exposed in Class Action Lawsuit Against JP Morgan

[slvrbugjim]

http://silverdoctors.blogspot.com/2011/09/new-lawsuit-filed-against-jp-morgan-for.html

[MAGNES]

JPM is the market maker, what they are doing is criminal obviously and so blatant.

" Point 118 also names Chris Jordan from JP Morgan selling massive amounts of silver puts at enormous profits. "

" Point 95 details how JP Morgan profited by $150 Million dollars with EACH dollar decline in the price of silver. "

After the word goes out they will drop it artificially,
imagine if we knew who the traders were, the positions
exchanged, I suspect there are bombshells, even before
the massive unprecedented volumes this last year that
exceeded the COT shorts even, day after day.

Those criminals stoled a lot of my money.

[TheNocturnalEgyptian]

You beat me to it, good job. Should be an interesting lawsuit.

http://xa.yimg.com/kq/groups/19714080/1082285791/name/11-09-12%20FINAL%20Consolidated%20Class%20Action%20Compl aint.pdf

[MAGNES]

You beat me to it, good job. Should be an interesting lawsuit.

http://xa.yimg.com/kq/groups/19714080/1082285791/name/11-09-12%20FINAL%20Consolidated%20Class%20Action%20Compl aint.pdf

There have been other lawsuits and nothing comes from them.

GATA long time ago documented Barrick, they claimed " sovereign immunity " in court
as agents of the Federal Reserve, the fact they hurt their own shareholders in the process,
nothing came of it, these guys have some sort of signed executive orders, where this market
is determined to be a part of national security.

On the New York Stock Exchange, Market Makers have or had an agent relationship
with their clients and must make an orderly market, not allowed to trade for their own
account, etc, some have been prosecuted, Nasdaq is the crooks and criminals that do
trade for their accounts, Madoff was Chairman and founder, Comex MM doing the same,
they can't rig the market if they weren't MM, and have total immunity obviously.

My guess with all the volume of this last year, they used the volume to wash everyone out,
new money, using volatility, suckering others in is part of the process, they can't make money
if they don't got the longs to flush. A lot of the trading was probably artificial, just like the equity
revelations that 75% of the trading volume at times is black boxes trading with themselves.
Get in between that when they decide what the price is. Up or down , you lose.

[Serpo]

This is a national secruity issue and just because they make 150 miillion per dollar silver drops is just a side issue..................hahaha

[gunDriller]

when a company like Barrick manipulates the courts (they're in good with the Iran-Contra folks, Bush41 sold Barrick a gold claim worth $1 Billion for $10K right before Bush left office) and claims "immunity from the law" - what it means is - the laws don't work.

so what we need in that situation is a return to common law, with neighborhood tribunals that are SOVEREIGN to the federal government - sovereign because they take their power from the people - not from the politics of privilige, Barrick-style.

[Serpo]

Updated silver lawsuit IDs Morgan trading mechanisms, traders, 'spoof' trades

Submitted by cpowell on Sat, 2011-09-17 04:31. Section: Documentation (http://www.gata.org/taxonomy/term/21) 1:33p ET Friday, September 16, 2011
Dear Friend of GATA and Gold (and Silver):
An updated complaint in the class-action lawsuit against JPMorganChase alleging manipulation of the silver futures market, filed this week in U.S. District Court for the Southern District of New York, details the mechanisms of the manipulation and some of the traders executing it.
According to the updated complaint:
-- MorganChase already had a large short position in silver when it acquired another large short position upon the investment house's acquisition of the failed New York brokerage Bear Stearns in 2008. This, the complaint says, gave MorganChase hugely disproportionate influence in the silver market.
-- MorganChase used "fake" and "spoof" trades to manipulate prices downward, particularly in advance of contract expiration dates, when MorganChase held put options, which became more valuable as the price of silver was driven down.
-- MorganChase reduced its short position following the May 25, 2010, hearing of the U.S. Commodity Futures Trading Commission, in which complaints of gold and silver market manipulation figured heavily. (GATA Chairman Bill Murphy and board member Adrian Douglas testified at that hearing and presented a statement by a London silver futures trader, Andrew Maguire, detailing market manipulation he had witnessed.)
-- MorganChase regularly engaged in uneconomic trading activity in silver whose only purpose was price manipulation.
-- The CFTC received a detailed complaint about silver market manipulation from a "whistleblower" (this is presumably Maguire).
--Market circumstances during the period of manipulation alleged by the lawsuit were much different from the circumstances previously investigated by the CFTC when it concluded that there had been no manipulation.
While these are all only allegations, the silver price manipulation case against MorganChase is now extensively detailed with names of participants, specific actions and their dates, and identities of participants. Market experts no doubt will find much more of signifance in the consolidated complaint.
King World News has just published a summary of the consolidated complaint here:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/16_Id... (http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/16_Identities_of_JP_Morgan_Silver_Manipulators_Exp osed.html)
The full complaint can be found at GATA's Internet site here:
http://www.gata.org/files/ConsolidatedSilverClassActionComplaint-09-12-2... (http://www.gata.org/files/ConsolidatedSilverClassActionComplaint-09-12-2011.pdf)


http://www.gata.org/node/10448