Monday, September 16, 2013

J P MORGAN - MANIPULATING EVERYTHING? - CFTC COMPLICIT? - YOU DECIDE & ACT

J P MORGAN -  MANIPULATING EVERYTHING - CFTC COMPLICIT - YOU DECIDE & ACT
Readers will no doubt have seen that J P Morgan has just been fined the paltry sum of USD 750 Million, scarcely more than 0.5% of equity, over  the financial scandal related to the London Whale. 
At the same time they have massively increased their provisions for litigation costs and now stand accused of market manipulation in virtually every conceivable area from energy, to base metals to precious metals.

This of course is why we have regulators, and the law courts to investigate, prosecute and where appropriate mete out justice....everywhere that is except in Wall Street and the City of London.

In this context  please see  specific recent public allegations that J P Morgan Chase has been fraudulently manipulating the price of Gold and Silver.  This information was provided to the regulator, The Commodities Futures Trading Commission ("CFTC"), which deposed two separate whistleblowers from within J P Morgan, both of whom, at great risk to themselves and their careers, provided detailed and specific testimony regarding these criminal trading activities.  
In particular, these whistleblowers provided this information to the CFTC more than one year ago, yet the CFTC has seemingly done nothing to curtail this activity on the part of J P Morgan.  Though the CFTC will attempt to tell you that the investigation is ongoing, the fact remains that nothing has been done to curtail this fraudulent trading activity. Indeed, highly questionable market action suggests that it is still being done today.  At what point does the continued inaction of the CFTC (in full knowledge of what is being done and in possession of sworn testimony indicating the extent of the fraud being committed) indicate that they are acting less as the regulator in this case, and more as an enabler of an ongoing fraud?  At what point does the CFTC become a co-conspirator?
There are millions of victims of this fraud, in the USA, UK , EU and globally.  Victims include pension funds, widows and orphans, insurance companies and ordinary investors. Any person whose retirement account includes an index fund which includes gold or silver mining companies has been defrauded as a result of these actions.  Any investor who owns gold or silver has been defrauded by these actions.  Any person who, in desperate times, has had to sell gold or silver at a “cash for gold” shop has been defrauded by these actions.
If you are an private individual, or an investment manager acting on behalf of others in a fiduciary capacity, you have a moral and in some cases legal obligation to act.

In particular oblige your representing politician, financial or investment advisor etc. to contact the CFTC and question them closely regarding the details of this case and their continued inaction on this matter.

Regrettably, it is only by standing up against  these egregious,  dishonest activities on the part of TBTF banks and complicit regulators, that we can ever rid ourselves of  the cancer within the financial markets. Then true price discovery of the capitalist system would reassert itself over the rigged everything, crony capitalist system we have today.

The actions you and your company  choose to take in this matter, will certainly influence the ultimate outcome. 

No comments:

Post a Comment