More info on metals market manipulation case.

Mesquite

Hmmmmm.

It gets curiouser and curiouser.


If interested, here is the 5 and 1/2 webcast of the March 25 CFTC meeting - in it's entirety I think.

CaptHenway

Thank you for the link.

MrOrganic

Call your state,county Rep to do a follow up on this!!!

"If your not part of the solution, Your part of the problem"

roadrunner

I don't see any new information here that the earlier 2 threads didn't already cover. But the information is somewhat compelling. I'd like to hear CFTC's response down the road as to why they apparently ignored the information presented them on 2/3/10 about future JPM Comex manipulation to occur on 2/5/10 at 8:30 am EST. It could be that metals are routinely taken down or up on every economic report and this is no surprise. And as I already mentioned in another post, the metals were taken down hard on Feb 4th as Feb 3rd. So it wasn't like Feb 5th stood out all alone. It was the 3rd leg down in a typical 5 wave sequence that gold often follows.

I look forward to CFTC's final analysis of the information presented during the 3/25 meeting. It was strange that the video feed was lost for the entirety of Bill Murphy's testimony (approx 6 min)..and yet to no one else. And the audio to a question posed to Mr. Murphy was also lost.....and yet to no one else. Seem Bill Murphy has a run of bad luck that day.

roadrunner

KUCH

Tomorrow I will contact govenor and attorney general of my state and request a full investigation. Will U sit at home and do nothing?

To do list for this week:
1) Take all monies out of Chase bank
2) Buy silver and gold on today's dip
3) Continue to inform all friends/investors of manipulation news brought forth last month
4) Sell all GE, GM, Microsoft stocks
5) Stop all puchases of treasuries and/or bonds

Mesquite

I think you are jumping the gun at this point.

gsa1fan

Maybe a little but if prices go ballistic/parabolic there will be no physical avail to buy.

I just don't see the talking heads allowing it. JMHO

KUCH

Na, been doing all that for a long time.

Mesquite

If you listen to the CFTC webcast it appears that panels 3 and 4 are the most interesting and most relevant to the accusation of market manipulation.

KUCH

What are they discussing in panel 3 and 4?

sinin1

good info


5 and a half hours of committee meetings - don't those guys know what they are supposed to be doing?

Mesquite

Turk thinks that the price of silver is ready to head north based, in part, on what came out in last week's CTFC meeting.

"Ready to blow"

roadrunner

The change in the commercial's (banks) futures trading over the past 2 weeks has shown a strong shift to the long side in their gold/silver positions. The opposite is true for the dollar.

Gold: a net 35,000 long contracts added dropping their net short position from 242K to 207K. A huge shift for just 2 weeks. And the lowest net short position since the summer. Same for the short to long ratio which dropped from 3.2 to 2.5. Open interest dropped was significant from 496K to 467K. This change is larger and deeper than following the Feb 5th smackdown into the $1044 low.

Dollar: the commercials reversed course the past 2 weeks by piling on the shorts once again....+8,000, bringing their short to long ratio back to 7.0. They must think the dollar rally is going to take a rest.

roadrunner

KUCH

RR thanks for the update. Unfortunately the dollar my take a break for long time.

To up date my last post concerning market manipulation by JP and other banks:
1) Contacted State Attorney General, news media, financial news programs
2) Sold GE, GM and Microsoft stocks
3) Stacked gold and silver


Go Butler!!!

derryb

What's Butler?

Once PM manipulation is no longer effective, look for something new to discourage ownership such as a high sales tax.

KUCH

One can avoid some sales tax legally by puchasing goods/services out of state. Can also avoid sales tax if it's for resale. Work it!

Wingsrule

No sales tax on coins or bullion in Michigan.

OnlyGoldIsMoney

<< <i>No sales tax on coins or bullion in Michigan. >>




Ditto for Pennsylvania.

AboutAg

<< <i>One can avoid some sales tax legally by puchasing goods/services out of state. >>



One catch is that most states have 'sales and use tax', with the 'use' piece being tax on whatever you buy without paying sales tax on (e.g. out of state).

So if you buy something out of state and don't pay sales tax on it, in many/most/all states you are required to then pay sales tax on it. Very few people do, but that doesn't mean you're in the clear.

dontippet

<< <i>

<< <i>One can avoid some sales tax legally by puchasing goods/services out of state. >>



One catch is that most states have 'sales and use tax', with the 'use' piece being tax on whatever you buy without paying sales tax on (e.g. out of state).

So if you buy something out of state and don't pay sales tax on it, in many/most/all states you are required to then pay sales tax on it. Very few people do, but that doesn't mean you're in the clear. >>




Illinois has this use tax. I agree, most probably don't do it. Although I don't keep great records, I do it to the best of my ability. But, precious metals and collector coins are exempt for the most part. Other collectibles, such as baseball cards, are not.

KUCH

Always stay within the tax laws. Unfortunately as we know, as taxes go up or are added it drives the economy down. PROVEN

KUCH

But, to get back to the topic, haven't heard one thing from state attorney general, news organization, or financial news that were contacted. Has anyone contacted CFTC about why nothing was done when told of the manipulation?

"I will not change my morals or values because of fear"