Regulators Expand Already Massive Precious Metals Manipulation Probe To Other Markets

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Just two days after the DOJ took the unprecedented step of designating the JPMorgan precious metals trading desk as a "criminal enterprise" using unusually aggressive language which reminded legal experts of indictments utilizing the RICO Act, and which hopefully ended years of precious metal manipulation by the group formerly headed by Blythe Masters, CNBC now reports that the probe is set to spread significantly as Federal prosecutors and regulators "are expanding their already aggressive investigations of fraudulent precious metals trades at J.P. Morgan Chase to other U.S. markets and financial firms."


The inquiry into market manipulation of all kinds comes amid a spike in criminal prosecutions and civil actions in the past year involving so-called “spoofing” in the precious metals markets, which we now find had been taking place with reckless abandon for years at JPMorgan and virtually all other major banks.

The prosecutors broadened their investigation thanks to information received from traders questioned for spoofing-related charges, and as in most RICO cases, the information obtained from those traders has led to criminal charges against other individuals.

In short: what we for many years said was blatant manipulation of precious metals was precisely that, and now the participants in said manipulating cabal are being treated as a mafia syndicate by the DOJ.


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It’s all a rigged game.


In fact, now, the U.S. recently put a law on the books that they can secretly shuffle any government funds from any agency to anywhere or any company. 

With Gold and Silver, the trading markets’ regulations have limitations on controlling strong positions, which was imposed around the Hunt silver market era.  (By the way, the Hunts got screwed over.  They were upfront and everyone knew that the Hunts were buying precious metals, both philosophically and for price gains.)  The Oil and Gas trading markets do not hold the same type of trading restrictions as precious metals, and so we often see huge amounts of leveraged, manipulated positions.

On the Gold/Silver, you will note the “spoofing” as a form of manipulation.  What is incredibly telling is this name David Meister.


Did you catch it? If not, here's the excerpt you need to see:

So, in summary...

1.      The Enforcement Division of the CFTC runs a five-year investigation into silver price manipulation, only to immediately close the investigation once presented with irrefutable whistleblower evidence of said manipulation.

2.      The head of the Enforcement Division, David Meister, quits the CFTC within a week of closing this investigation.

3.      Meister then takes a job with Washington law firm, Skadden LLP.

4.      Skadden LLP has been retained by Michael Nowak, former head of the JPMorgan precious metals desk, as his defense attorneys. The lead attorney defending Nowak is David Meister.

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  1. “Catherine Austin Fitts Explains the Financial Coup D’état”
    QUEUED VIDEO (19 minutes 6 seconds)
    Catherine Austin Fitts: ”…and what you realize is:
    It’s this very mechanism of pumping in secret money into U.S. corporations that has been driving the U.S. Stock Market higher. Now, if I am an institutional investor and I am looking at that, the question is: “How long can the game last?”
    And if you look at what is behind this…treasury market, in terms of credit and credit analysis…we are levitating on a very big bubble….”

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