Market Rigs

You won't hear or see the following in the US media, but must read it from a Chinese web site called Popular Financing.

PREFACE ON MARKET RIGS

The hearings took place two weeks ago. The news of Andrew Maguire's testimony on March 25th has circled the globe, ringing shrill in the ears of anyone half awake. Maguire is a metals trader from London, but watch somehow that his career takes a turn for the worse. So far the car carrying his torso has been run off the English roads. He still walks and talks, but whistle blowers usually have short lives and shorter careers. Laws protect them, but not from the powerful syndicates. Maguire outlined the corruption in the gold market, and abused domination by JPMorgan in particular. The monolith transmits its signals and enlists the support of a small army of traders who pile atop the price suppression tactics. Despite almost 20 years of complaints lodged with the Commodities Futures Trading Commission, JPMorgan continues to operate with such a high degree of impunity that their staff openly boasts about after their illicit profits are garnered.

Maguire guided the CFTC, headed by Goldman Sachs alumnus Gary Gensler, through recent gold price manipulations before during and after a non-farm jobs report was issued. Maguire outlined in some detail how orders to short gold arrive in volume over 2500 contracts, designed to overwhelm the market, often when the market is thin. They are almost always naked short sales, without benefit of bullion posted as collateral. They are executed with the implicit blessing of the USGovt and UKGovt. The trades are not intended to seek the optimal price, but rather to corruptly reduce the market price. The GATA warrior (aka El Cid) named Bill Murphy offered his testimony at the hearings, running fleet footed past the secondary coverage easily. He has submitted many complaints over the past few years, all falling on deaf ears and blind eyes. See the Gold Anti-Trust Action article on the unprecedented hearing , which has been covered by dozens of other web journals. Nowadays, in order to be treated to the actual news, one must rely upon the alternative locations from the internet, like Zero Hedge and their small platoon of Wall Street soldiers in service to the truth .

The US financial markets are slowly being revealed as a series of corrupt Ponzi schemes. The gold market is the vulnerable linchpin for the USDollar and USTreasury markets. That is why gold is so important to be controlled and suppressed. The diverse sanctioned illicit and illegal activity renders it a damaged market screaming to be freed. Some readers and subscribers alike have written to the Jackass email inbox with messages of hope and some satisfaction, in the wake of the Maguire testimony about the CFTC lapses. The meeting organizers might have thought the hedge funds would be blamed for outsized illicit positions, but the blame was squarely place upon JPMorgan and the Big Four firms. The exposure process is long and slow, however. The Goldman Sachs class is still in control of the USGovt purse, still guides funds to Wall Street after first feeding at the trough, still operates as the great vampire squid in search of money pools as Matt Taibbi bravely describes.

The news has circled the globe, finding the financial pages in London and Germany. Some believe the news is too hot and viral to be reported on the mainstream US press networks. Do not hold your breath for exposure in the Untied States, where the syndicate maintains controlling ownership of the press networks, bringing them to heel, dictating their many messages, filtering their stories as suitable for coverage, painting patriots as villains and criminals as heroes. But, lest one despair, there is hope that exposure will come as powerfully and broadly as the morning sunrise. The lackey US press might cover the story eventually, but only after almost the entire planet covers it. My Jackass article about the corrupted gold market last May 2009 made a splash, earned some accolades, but also invited some mockery by nitwits who have turned silent. The bust of the gold market is in progress, whether or not people wish to see it. The hitmen cometh to the gold exchanges.

Continue here..., a long article but well worth your read.