Back in April, the Cartel Shills and Apologists
attempted to minimize the news that a settlement had been reached
regarding a "nuisance lawsuit" alleging price rigging in gold and
silver. As we told you at the time and on many occasions since, this
case is instead quite significant and very important. The latest update
on the case, released late yesterday, sheds more light upon what we've
always known was taking place behind the scenes in the "free and fair
precious metals markets".
First, just another reminder of the two key points:
- Because of Deutschebank's settlement offer and willingness to turn "state's evidence" in the case, for the very first time
a civil lawsuit regarding gold and/or silver price manipulation is
being allowed to move forward into the legal discovery phase. This means
depositions, affidavits and subpoenas. Never before has a case been
allowed into this phase as all previous civil suits were thrown out by
Bank-favored judges before discovery could begin.
- With Deutschebank now having agreed to nearly $100MM in
settlements in the case, there is now the proverbial "blood in the
water" for every class action attorney in the world. This current
laswuit is just one case and this Deutschebank settlement is just one
small part of it. There will now be countless new lawsuits filed, each
of them seeking damages from The Bullion Banks for the now-discovered
and proven collusion and manipulation of precious metals prices.
Potential claimants range from mining companies to shareholders to day
traders to investors/stackers.
So, what did we learn today. Here are two
links...one from Reuters and the other is a more detailed analysis from
ZeroHedge. We strongy urge you to read both.
And here are the amended full filings from the case:
Silver Rigging 1 target="_blank" by zerohedge on Scribd
Silver Rigging 2 target="_blank" by zerohedge on Scribd
From the ZeroHedge article, here are two text exchanges that have been
unearthed and submitted only because of the Deutschebank cooperation and
legal discovery. There will be many, many more. Of that you can be
certain. (click to enlarge)
As an aside, note the date of the exchanges
posted above....May and June of 2011. After reviewing this evidence of
direct collusion between The Bullion Banks, do you have any remaining
doubt as to the origin of the trades in the May Day Massacre of Sunday,
May 1, 2011? That sudden $6 drop in silver brought an abrupt end to the
Cartel short squeeze that had pushed silver from $38 to $48 in April of
that year. What followed were five CME margin hikes in nine days and
silver falling to $38 in days and $26 within weeks. Again, after reading
the text messages above, you now know precisely how this was
accomplished.
Additionally and on a personal level, you now
have confirmation of why TFMR exists in the first place. We gained
notoriety in 2010 because we were able to offer precise guidance on
price due to recoginition that Cartel traders were colluding to move
price, run stops and paint charts. Because we could predict in advance
where these traders would act, TFMR rapidly grew and ultimately became
what it is today. Though we've since shifted our focus to broader
topics, rooting out and exposing The Bullion Bank Cartel remains our
focus. Bringing about an end to the manipulation and the Bullion Bank
Paper Derivative Pricing Scheme will always be our ultimate goal.
But this is far from over. If we know anything
about the legal process it's that it takes time and there are always
delays, filings, briefs etc. Therefore, do not expect an abrupt end to
the Bullion Bank price manipulation in the next few weeks. Instead,
recognize these key takeaways:
- The potential monetary liabilities alone will now force many smaller
players in bullion banking to exit the sector. Even some of the larger
Banks, sensing the declining profits and increasing liabilities will
close up shop.
- The mining companies and their executives, now finally faced with
the truth about their alleged allies The Bullion Banks, will soon begin
shifting their hedging and financing activities away from The Billion
Banks and the LBMA.
- Points number 1 and 2 will lead to an ever-decreasing market share and dominance of fraudulent LBMA and Comex system.
- As the Paper Derivative Pricing Scheme loses influence and
importance, a shift toward true physical price discovery will move to
the forefront.
What does this mean to you?
Since you now know with certainty that the
"price" derived through the digital exchange of paper derivatives is
false and manipulated, you MUST use this knowledge to your advantage.
Remember, physical gold and silver are priced as if they are abundant
when they are not. What IS abundant is the paper dervivative that is
used to set the price. As derivative trading fades away, physical
trading and pricing will take over. And the price discovered in a truly
physical market will most assuredly NOT be $1200 or $17 per ounce.
Have a great day, confident in knowing that you have been proven correct and that you are winning.
 
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Our Ask The Expert interviewer Craig Hemke began his career in financial services in 1990 but retired in 2008 to focus on family and entrepreneurial opportunities. Since 2010, he has been the editor and publisher of the TF Metals Report found target="_blank" at TFMetalsReport.com, an online community for precious metal investors.
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The author is not affiliated with, endorsed or sponsored by Sprott Money Ltd. The views and opinions expressed in this material are those of the author or guest speaker, are subject to change and may not necessarily reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the accuracy, completeness, timeliness and reliability of the information or any results from its use.
