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CFTC scandal

CaptHenwayCaptHenway Posts: 31,564 ✭✭✭✭✭
in Precious Metals
This story was mentioned in the 1600+ postings thread. I think it deserves its own thread.

CFTC scandal link

Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.

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    derrybderryb Posts: 36,212 ✭✭✭✭✭
    Business as usual, sad but true.

    Give Me Liberty or Give Me Debt

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    OPAOPA Posts: 17,104 ✭✭✭✭✭
    Here is the kitco write-up

    corrected link
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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    cladkingcladking Posts: 28,350 ✭✭✭✭✭
    Companies now days brag openly about price fixing and collusion. They agree to how
    much capacity each company must mothball to drive prices higher. There are no new
    companies any longer because they are heavily discouraged by government regulations
    and interventions. If one does somehow get going then big companies will engage in
    monopolistic practices to drive them out.

    I can't remember the last time a merger was deniied because the resultant would con-
    trol too much of a market. If today's trends continue we'll have one company in another
    few decades.

    Government just doesn't have a problem with anything any large organization wants
    to do. If the big banks want to manipulate markets then there's no problem, at least till
    the economy fails.

    The LME defaulted on nickel a few years back and there was no outcry. Of course now
    days stainless steel rusts but no one cares about that either.

    As long as no one cares, as long as people don't even return junk to the stores and
    accept that kids ain't getting no learning then nothing will change.
    Tempus fugit.
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    DennisHDennisH Posts: 13,963 ✭✭✭✭✭


    << <i>Here is the kitco write-up
    kitco cftc scandal >>

    Link doesn't work.
    When in doubt, don't.
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    MacCrimmonMacCrimmon Posts: 7,054 ✭✭✭


    << <i>Here is the kitco write-up

    kitco cftc scandal >>




    try it now
  • Options
    CaptHenwayCaptHenway Posts: 31,564 ✭✭✭✭✭
    Still doesn't work. Can't find anything on their site.
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • Options
    derrybderryb Posts: 36,212 ✭✭✭✭✭


    << <i>Still doesn't work. Can't find anything on their site.
    TD >>



    The "judge" sent them a nastygram.

    Give Me Liberty or Give Me Debt

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    roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    If I was one of the hundreds of "losers" in Judge Levine's court over the past 20 yrs. I might be tempted to bring the case back up and seek damages. I don't think there is any time limit on govt fraud. New ground for lawyers needing work.

    edited: Levine for Painter

    roadrunner

    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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    OPAOPA Posts: 17,104 ✭✭✭✭✭


    << <i>

    << <i>Still doesn't work. Can't find anything on their site.
    TD >>



    The "judge" sent them a nastygram. >>



    Here is the corrected link...

    kitco
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • Options
    OPAOPA Posts: 17,104 ✭✭✭✭✭


    << <i>If I was one of the hundreds of "losers" in Judge Painter's court over the past 20 yrs. I might be tempted to bring the case back up and seek damages. I don't think there is any time limit on govt fraud. New ground for lawyers needing work.

    roadrunner >>



    It's not Painter who is in question...

    "Commodity Futures Trading Commission (CFTC) Administrative Law Judge George H. Painter made serious allegations regarding fellow CFTC judge Bruce Levine in announcing his retirement.
    In a notice sent to complainants and their attorneys, Judge Painter claims that Levine told him that he had promised former CFTC Chair Wendy Gramm “that he would never rule in a complainants favor”. Painter’s notice goes on to say, “A review of his rulings will confirm that he has fulfilled his vow.”
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • Options
    CaptHenwayCaptHenway Posts: 31,564 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>Still doesn't work. Can't find anything on their site.
    TD >>



    The "judge" sent them a nastygram. >>



    Here is the corrected link...

    kitco >>



    Thank you for the link, but it should be pointed out that this (the link) is just a forum that members post to.

    Did Kitco post anything that they originated?

    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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    OPAOPA Posts: 17,104 ✭✭✭✭✭


    << <i>Did Kitco post anything that they originated? >>



    I don't believe so ...
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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    roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    It's not Painter who is in question...

    Thanks for spotting that. I was going by my faulty memory from my post to the main thread yesterday. Have to remember that Painter "painted" Levine in a bad light.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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    MMRMMR Posts: 372
    Its not just Crimex that is fixed. All of the markets are fixed and run by the TBTF banksters. The corruption is rampant throughout the country, nay the world.

    Nothing is as it seems from the surface. Sad.
    My eBay auctions - nothing now
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    roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Bart Chilton speaks out

    CFTC commissioner Bart Chilton spoke out today basically stating that there has been fraud and devious control of the silver market for an extended period. That's not news to anyone here. I'm sure the fiat bugs that have blinders and ear muffs on will continue to say there has never been any intent to hold down the gold and silver markets. And those massive short positions held by 2 or 3 banks for the past 4 years were just for "trading." image

    Hmm, that link worked for me the first time showing the full article. Now it requires a sign in after the first paragraph. You should be able to google "Bart Chilton" and have it come in full format. Bart Chilton has been one of the few regulators willing to listen to stories about manipulation. But it took way too long for this statement to finally come out. Maybe the CFTC is figuring the ship is going down and better to be on the rescue team than on the salvage detail.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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    Tallpaul000Tallpaul000 Posts: 193 ✭✭
    Article on coinflation.com, lawsuit filed in NY state against JPM and HSBC for silver manipulation,

    What is the boards consensus on this article?>
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    roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I believe those 2 lawsuits are the real deal. Both were initiated by major law firms who have a track record of success in going after big corporations or even regulators. These firms have had success against the likes of Countrywide, SEC market makers, Sumitomo, etc. for judgements in the hundreds of millions. The largest one was >$1 BILL. These guys don't fool around and will hang in there for years if need be.

    That said, whatever the outcome, any judgements or fines will pale in comparison to the hundreds of billions, if not trillions that JPM/HSBC has made in their overall scheme to rig the PM markets as this ultimately affects currencies, bonds, and stocks. This doesn't even include all the money that was made by all their trading buddies who are not part of the lawsuit. It's so much easier to try and swing a tiny PM's market while making 50X that amount in forex, bonds, and stocks.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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    BearBear Posts: 18,954 ✭✭
    Things to remember:

    Mergers will be allowed unless they would give 100% of a market to a single company

    Paper gold and silver can not exceed the physical goods by more then 1200%

    Ponzi schemes, fraud and deceitful practices are allowed, as long as the proper bribes...........
    I mean campaign contributions are paid.

    It is OK for a company to lose money and need Government bailout and still pay the offending
    officials huge bonus money for doing a heck of a job.

    The bigger the scam the lessor the penalty.

    Soon, we will no longer elect a president. Rather the Bildebergs will directly appoint a Chairman of the Board.

    We the hungry peons are here to serve the elected officials. It is only by collecting coins, that we are able to
    maintain the slightest hold on our collective sanity.

    Things are not as bad as they may seem.....................................................................................they are worse.image
    There once was a place called
    Camelotimage
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