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Silver Class Action Suit

MsMorrisineMsMorrisine Posts: 24,874 ✭✭✭✭✭
edited October 5, 2020 2:37PM in Precious Metals

Current maintainer of Stone's Master List of Favorite Websites // My BST transactions

Comments

  • MeltdownMeltdown Posts: 7,260 ✭✭✭✭✭

    Woohoo, I'm gonna be rich! :D

  • derrybderryb Posts: 30,376 ✭✭✭✭✭

    The courts have also set aside over $311 million of JP Morgans fine for victim settlement. Victim information and link to the Victim Impact Statement form available at this link:

    JPMorgan Chase & Co., Deferred Prosecution Agreement (DPA)

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  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,052 ✭✭✭✭

    As an owner of SLV since before the 2011 silver price I may want to submit a Victim Impact Statement. derryb, do you have any idea of the main points a "victim" need to make?

  • derrybderryb Posts: 30,376 ✭✭✭✭✭
    edited October 13, 2020 9:11AM

    For the DOJ JPM claim, list losses and document with buy/sell dates and prices and provide copies of brokerage statements to support your claim. Remember, the settlement is for losses incurred due to manipulation in the futures markets. The claim must clearly show that the losses were a result of the futures market manipulation.

    Most of us trade paper PMs using ETFs (such as SLV) whose price is indirectly affected by futures exchange trading. To claim a loss with such ETFs one must document (attachments if necessary) how the ETF price was affected by futures trading.

    For these PM ETFs ETFdatabase.com provides links to what each ETF specifically tracks. Few, if any of these ETFs, directly track the futures market and in most cases track another index that does track the futures market. SLV for example tracks "silver bullion." To make a claim involving SLV one must show that SLV tracks bullion and that bullion prices is determined by the futures market. If necessary, include copies of applicable information from the ETF database website. Do not assume that the person reviewing the claim is versed on how ETFs are indirectly affected by futures trading.

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  • If I didn't sell any silver between 1-1-99 and 9-6-2016 I didn't have a provable loss, right? I might have paid more than I should have, and if I had tried to sell it I might have lost money, but it's worth more now than when I bought it. Just trying to not embarrass myself.

  • MsMorrisineMsMorrisine Posts: 24,874 ✭✭✭✭✭
    edited October 13, 2020 2:33PM

    this is bought or sold

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • derrybderryb Posts: 30,376 ✭✭✭✭✭
    edited November 7, 2020 3:12PM

    @MsMorrisine said:
    this is bought or sold

    It is for losses, which always involve a buy AND a sell

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  • AzurescensAzurescens Posts: 2,507 ✭✭✭✭✭

    @derryb said:
    The courts have also set aside over $311 million of JP Morgans fine for victim settlement. Victim information and link to the Victim Impact Statement form available at this link:

    JPMorgan Chase & Co., Deferred Prosecution Agreement (DPA)

    Too bad my grandpa died already. Because he spent 60 years collecting gold and silver only for these monsters to take it when he needed it the most. These people shaved untold tens of thousands of dollars off his wealth. Fought in 2 wars and served as a firefighter for 30 years. And they just fixed the market when he needed it most and made it next to worthless.

    These bankers still go on vacations, grocery shopping, still use planes, etc. A very many number have Facebook and LinkedIn profiles with pictures of themselves and their families.

    Its only a matter of time until someone becomes unglued enough to do something about it themselves. Twitter has been consistently removing threats of violence from JP Morgan's feed for months now. Every now and again you see people posting their guns and talking about how screwed their family is bc the banks robbed them by fixing gold silver etc.

    Maybe stealing hundreds of millions from people was a bad idea.

  • MsMorrisineMsMorrisine Posts: 24,874 ✭✭✭✭✭

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • TwoSides2aCoinTwoSides2aCoin Posts: 41,791 ✭✭✭✭✭

    Sue Happy is a lawyer. Probably running for Congress.

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