New whistle blower today from JPMorgan

KUCH

Interesting article, appearing on Jim Sinclair site. A new whistleblower from JPMORGAN. Yesterday one from Goldman! The letter was directed to CFTC.

I urge all to read it, talks about their manipulation of gold and silver markets and how they are hiding stolen client funds from M F Global. Three cheers for this whistle blower. Finally we're seeing people who are honest and more importantly, ones who have some balls!!!!!!

It's bout time we see some action. I've decided to become proactive and not just read the news. I've closed my Chase account, went with a local bank. Time to contact the elected officials. Time to make sure the local elections are honest and no fraud is occuring. I urge everyone to get involved!

God Bless America.

jmski52

From: Z A N
Organization(s):
JPMorgan Chase

Comment No: 57019
Date: 3/14/2012

Comment Text:

Dear CFTC Staff,

Hello, I am a current JPMorgan Chase employee. This is an open letter to all commissioners and regulators. I am emailing you today b/c I know of insider information that will be damning at best for JPMorgan Chase. I have decided to play the role of whistleblower b/c I no longer have faith and belief that what we are doing for society is bringing value to people. I am now under the opinion that we are actually putting hard working

jsmineset

tincup

Interesting... but as usual will probably fall on deaf ears. I believe the regulators are in on the game also.

MsMorrisine

<< <i>Interesting... but as usual will probably fall on deaf ears. I believe the regulators are in on the game also. >>



when the watchdogs are kept in the same pen as those watched too long, they tend to get too friendly and "forgiving" or "understanding."

cohodk

$1 says this is BS.

MsMorrisine

<< <i>Interesting article, appearing on Jim Sinclair site. >>





here is the post on the CFTC website

derryb

"we are manipulating the silver futures market and playing a smaller (but still massively manipulative) role in manipulating the gold futures market.. . . . .this most recent crash in gold and silver during Bernanke's speech on February 29th is of notable importance, as we along with 4 other major institutions, orchestrated the violent $100 drop in Gold and subsequent drops in silver. . . .There are many middle-income people that invest in the physical assets of silver, gold, as well as mining stocks that are being financially impacted in a negative way b/c of our unscrupulous shorts in the precious metals commodity sector. "

For those that refuse to believe it.

Metals should find their natural strength (for now) as the shorters all seek cover.

yellowkid

Our brightest minds used to design things and find solutions to problems, now they find ways to finesse or manipulate financial markets so they will get a big bonus or stock windfall.

Spooly

<< <i>$1 says this is BS. >>



To good to be true.....? I'm skeptical.

epcjimi1

Bart Chilton acknowledged on CNBC last week that silver futures were subject up to 30% of the market of all silver contracts by one trader. CFTC proposes regs to limit contracts to 10% of total market by one entity, but Bart says that CFTC is being taken to court by Wall St. "There's really no denying it, they can push prices around."

2:08 - 2:45, here -

Chilton on Squawkbox

cohodk

<< <i>"we are manipulating the silver futures market and playing a smaller (but still massively manipulative) role in manipulating the gold futures market.. . . . .this most recent crash in gold and silver during Bernanke's speech on February 29th is of notable importance, as we along with 4 other major institutions, orchestrated the violent $100 drop in Gold and subsequent drops in silver. . . .There are many middle-income people that invest in the physical assets of silver, gold, as well as mining stocks that are being financially impacted in a negative way b/c of our unscrupulous shorts in the precious metals commodity sector. "

For those that refuse to believe it.

Metals should find their natural strength (for now) as the shorters all seek cover. >>




LOL. The propagandists are going all out on this one. They are scared, because derryb is probably right--metals will find their natural price. Notice I left out the shorts covering part.

OPA

<< <i>

<< <i>$1 says this is BS. >>



To good to be true.....? I'm skeptical. >>



But, it's on the internet...so it must be true

derryb

<< <i>

<< <i>

<< <i>$1 says this is BS. >>



To good to be true.....? I'm skeptical. >>



But, it's on the internet...so it must be true >>


The posting of the accusation on the ctfc.gov website does offer some validity.

RedTiger

Not only do I doubt the story, but if this is going public over the Internet, I'd say the odds are that JPM is taking the other side and manipulating on the bull side for silver.

Think like a spy. Most of the information given to the small fish over the Internet is done on purpose, with the purpose being to mislead the small fish and drive them into the nets so the big fish can have another meal. JPM is a big fish.

jmski52

Think like a spy. Most of the information given to the small fish over the Internet is done on purpose, with the purpose being to mislead the small fish and drive them into the nets so the big fish can have another meal. JPM is a big fish.

I think like a random variable. I don't buy or sell on the basis of market reporting anymore.

I used to try to make brilliant trading moves, but no more. I buy when I feel like it. I sell when I want to raise cash.

If the market isn't "good enough" at that moment, I might wait a bit - but I don't care what kind of "inside baseball" JPM might be playing today. I manage my own affairs. That's good enough.

What I do care about is liquidity in the metals markets. If something looks like it will affect the liquidity for physical, then I'll have some second thoughts. So far, so good.

johnny9434

im glad i never got into the political bs scene. theres enough to anwser for as it is.

derryb

CTFC has removed the letter of allegations from its website.

MsMorrisine

the text in bold does not fit with the rest of the letter:

There are many middle-income people that invest in the physical assets of silver, gold, as well as mining stocks that are being financially impacted in a negative way b/c of our unscrupulous shorts in the precious metals commodity sector. If you read the COT with intent you will find that commercials (even though we have no business being in the commercial sector, which should be reserved for companies that truly produce the metal) are net short by a long shot in not only silver, but gold.


This is whistleblowing against JPM-C but this part goes into complete irrelevance by noting commercials are short silver "by a long shot" and gold.
Q: what aspect of whistleblowing does this support?

The parenthetical part about JPM-C having no business being in the commercial sector doesn't fit with the sentence well.
Q: if the person was whistleblowing, a point should have been made about JPM-C having commercial positions or acting as a commercial entity in some way.


Since this part doesn't fit, it makes me skeptical that this thing is real, and potentially some post put up by someone who is short and looking to make a killing.

cohodk

So where's my $1?