Eupedia Forums
Site NavigationEupedia Top > Eupedia Forum & Japan Forum
Results 1 to 9 of 9

Thread: JP Morgan manipulating the silver market

  1. #1
    Elite member edao's Avatar
    Join Date
    10-02-10
    Location
    Britain
    Posts
    442

    Y-DNA haplogroup
    R1b
    MtDNA haplogroup
    H

    Country: UK - Scotland



    JP Morgan manipulating the silver market



    "Andrew Maguire is a former Goldman Sachs trader. He went public in April 2010 with assertions of market manipulation by J.P. Morgan and HSBC of the gold and silver markets.

    Maguire and his wife were injured in a hit and run accident in March of 2010 after Maguire's name came to light during a US Commodities Futures Trading Commission hearing on limiting gold and silver positions held by large market participants in order to prevent manipulation."
    source

    JP morgan silver manipulaton explained


    "The complaint alleges that around June 2008, when JP Morgan acquired Bear Stearns and its short positions in silver futures, JP Morgan and HSBC started a conspiracy to manipulate the market for silver futures and options contracts for their own benefit.

    The lawsuit claims the defendants realised substantial illegal profits in connection with their scheme, while investors who had no knowledge of the scheme lost substantial amounts of money.

    The complaint alleges that the "illegal scheme" continued until around March this year(2010), when a London-based ex-Goldman metals trader exposed the scheme. Silver prices have soared by about 80pc to a 30-year high since the low seen on February 8 this year."
    source

    You can read Andrew Maguire's emails here

  2. #2
    Advisor LeBrok's Avatar
    Join Date
    18-11-09
    Location
    Calgary
    Posts
    10,296

    Y-DNA haplogroup
    R1b Z2109
    MtDNA haplogroup
    H1c

    Ethnic group
    Citizen of the world
    Country: Canada-Alberta



    World is full of bad individuals playing unfair games to their greedy advantage.
    Looking at the chart we can see low in 2008 at 8.78, which is correlated with financial crises, and steady recovery till this spring. Since spring prices skyrocketed to 46.66. I wish I saw that in 2008, hehe.
    Not sure what baring on silver market manipulations like these of Andrew Maguire had. Maybe it shows in day to day trading patterns. Overall though, it might not have bigger impact on long term trades in markets.

    I'm against daily trading and similar manipulations directed toward quick buck, and adding no value to real economy. It should be forbidden.
    Markets should be left for investors, and investing in companies/technologies, with long term rewards for helping GDP growth of whole country and the world, therefore benefiting all citizens.



  3. #3
    Regular Member
    Join Date
    22-09-10
    Location
    ankara
    Age
    41
    Posts
    221


    Ethnic group
    hun
    Country: Turkey



    it is not only about silver and gold. all the commodities are hitting the new highs. there may be some manipulation, but the real reason is the huge amount of dollars and some euros pumped in to the market to help the banks due to the credit crisis. this money lifted almost all of the commodity prices. it is a kind of inflation.
    Last edited by barbarian; 25-04-11 at 11:44.

  4. #4
    Advisor LeBrok's Avatar
    Join Date
    18-11-09
    Location
    Calgary
    Posts
    10,296

    Y-DNA haplogroup
    R1b Z2109
    MtDNA haplogroup
    H1c

    Ethnic group
    Citizen of the world
    Country: Canada-Alberta



    Yes it could be that the speculation money, with government founds included, are invested in all metals, creating new bubbles. But it won't last too long if there is no real demand for these metals. At the end real demand will win over speculation. If there is no demand the market will crash eventually. This is the real life test. Sadly it's our reality at the moment.
    I know that speculation screws up the real world demand and honest prices, that's why I would gladly ban the day trading, and speculation.
    For now we know that with growing economies of Asia, that is about 3 billion people, the demand for everything, metals and food included, will go up. The problem is that many speculators will get on bandwagon and cause the prices to rise too high. This is a bad thing for economies and I hope in the future we will get some regulations curbing speculation and leaving markets only for sellers, buyers and long term investors.

  5. #5
    Banned
    Join Date
    13-12-10
    Location
    Brabant
    Age
    67
    Posts
    768

    Y-DNA haplogroup
    R1b1b2a2* SNP P312

    Ethnic group
    Proto Celtic
    Country: Netherlands



    Well, in capitalism there is a hidden system they call "free market".
    It's as old as the road to Rome.

    Pot, pot, pot as many goods you can, so you have a monopoly,
    and sell little particles at a much higher price.

    The best you can do is to ignore, what you really don't need.

    The jewelry market in the west is over the top already for years.
    I mean.. If you buy a ring for 600 euro,
    you could sell it back the next day at the same shop for 60 euro.
    Ridiculous!

    In the east, the gold keeps the value of the market, but you pay the goldsmith for his craftsmanship.
    That's more fair.

  6. #6
    Elite member edao's Avatar
    Join Date
    10-02-10
    Location
    Britain
    Posts
    442

    Y-DNA haplogroup
    R1b
    MtDNA haplogroup
    H

    Country: UK - Scotland



    I'd recommend a great movie/documentary called Inside Job - narrated by Matt Damon
    Trailer

    The level of corruption in the US government is remarkable, the relationship between the investment banks, the rating agencies and government is frightening. How do you prosecute massive financial fraud when the people commiting the fraud are part of the government.

    As has been well documented the Ratings Agencies gave triple A rating to subprime mortgages allowing the investment banks (who they were being paid by) to then sell the crap internationally - testifying the rating agencies stressed rating where only their opinion . Then to rub salt into wound the investment banks wound then bet against their own securities.

    Now in Europe we have those exact same Rating Agencies working on behalf of the investment banks deciding the credit worthiness of European countries. When being bailed out they have to get loans from the EU and of course the IMF (or the american government) who are of course in bed with the wall street investment banks. Lets not forget that Greece was given a big helping hand by who.....Goldman Sachs to hide the true extent of its debt.

    The Chinese own american debt and now the americans wants to own as much european debt as possible. When is Europe going stand up for itself?

  7. #7
    Elite member edao's Avatar
    Join Date
    10-02-10
    Location
    Britain
    Posts
    442

    Y-DNA haplogroup
    R1b
    MtDNA haplogroup
    H

    Country: UK - Scotland



    An interesting interview with Mário Soares, a former president of Portugal, about the economic situation in Europe and Portugal on Euronews. watch it here

  8. #8
    Advisor LeBrok's Avatar
    Join Date
    18-11-09
    Location
    Calgary
    Posts
    10,296

    Y-DNA haplogroup
    R1b Z2109
    MtDNA haplogroup
    H1c

    Ethnic group
    Citizen of the world
    Country: Canada-Alberta



    I'm sorry, but if Portugal had presidents like this one, no wonder Portugal is in deep trouble.

  9. #9
    Junior Member
    Join Date
    23-09-13
    Posts
    1


    Country: USA - Kentucky



    Big banking has done it again. As if it needed any more negative media, Chase Bank opened itself up to critique by sending an Aurora, Colo., woman's home loan files to the wrong person, reports CBS 4 Denver. This was one more in a long line of incidents where banking institutions have mishandled consumers' home loan files. Article source: Chase sent mortgage documents to wrong person.

Similar Threads

  1. Thesis on the European Single Market
    By DAGIVO in forum Other Serious Discussion
    Replies: 0
    Last Post: 01-05-11, 17:52
  2. EU Legislation and Single Market Services
    By europefan in forum European News & Hot Topics
    Replies: 3
    Last Post: 24-02-10, 21:04
  3. EU Single Market - built to last?
    By jbuk in forum Politics & Governments
    Replies: 4
    Last Post: 29-09-09, 12:33

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •