Tuesday, November 23, 2010

Silver Manipulation By JP Morgan Brings Lawsuit

At this point anyone who has really been paying attention knows that the banking elite have made a mess of the world economy. You should also understand by now that these same banking elite have continued to suck the world dry while at the same time watch it slowly die. What started as a bubble crash in the US housing market quickly spread into a world economic breakdown. People across the United States are losing everything they have worked so hard for while the banking elite get rich beyond their wildest dreams.

As the truth comes out about how the banks stole from everyone and pulled the world into a deep dark hole of endless debt, there are some signs that these international criminals are not getting away with their dirty deeds completely. The silver market has been one which has always been covered in controversy. For years there have been those who have accused big banks of manipulating the silver market. It appears that JP Morgan and HSBC are in hot water as a class action law suit accusing both banks of conspiracy and manipulation of the silver futures market was filed in early November.

The lawsuit centers around June 2008 when JP Morgan took over Bears Stearns. This takeover also handed JP Morgan all of Bears Stearns short positions in the silver market. JP Morgan then teamed up with HSBC to buy as many silver short positions as they could in order to artificially depress the price of silver. Investors lost big time while JP Morgan and HSBC made a huge profit in the process. By controlling a majority of the silver short position contracts the two banks could sale silver shares when they did not actually have any real silver on hand.. They did this over and over again. They would sale silver they never had, and because the price was so low, buy those contracts back and resale them. This kind of business is very illegal to say the least.

This recent lawsuit is just latest suit filed against JP Morgan and HSBC. Back in October of this year two separate lawsuits were filed claiming that two investors had sold silver contracts and lost money due to the actions of JP Morgan and HSBC.

This is the point we have reached with the elite bankers. During this entire Global Economic Meltdown time and time again we have seen banksters do everything they can to suck everyone dry. They want it all at this point and have shown to have the ability to do anything to get it. Nothing is safe in the current economic environment. The international banks are being more ruthless than they have ever been in the past. The more they get the more than want. The level of greed is sickening. The illegal actions of JP Morgan and HSBC only scratch the surface of crimes committed by international banksters. The more people start to wake up and look into what is really going on expect more lawsuits in the future.

Yet, lawsuits are not going to be enough to dismantle the criminal banking system. Direct action always has an effect which no lawsuit can match. Market expert Max Keiser is calling for a run on silver. Keiser calls for people to start to buy just 1 oz of silver and demand physical delivery. JP Morgan does not have enough real silver to keep up with added stress on the market. If a massive amount of people started buying just one or two ounces of silver it would crash JP Morgan for sure. I did it and others should as well.           

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