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Two investors have filed separate lawsuits against JPMorgan (JPM) and HSBC (HBC) charging the...

Two investors have filed separate lawsuits against JPMorgan (JPM) and HSBC (HBC) charging the banks with manipulating silver by amassing huge short positions from early 2008 in order to make hundreds of millions illegally. (yesterday: CFTC action)
Comments (4)
  • Speakeasy
    , contributor
    Comments (414) | Send Message
     
    Taken from Jim Sinclair's commentary:

     

    We have a criminal govn. so who can you turn to?

     

    "H. R. 4646
    I have gone into THOMAS (Library of Congress) and printed out and read all 15 pages of this bill which has been given the “Short Title” of “Debt Free America Act.”
    Just think, if you deposit $5,000.00 into your checking account or savings account the bank has to take out 1% or $50.00 of that money and send it to Washington . Then, any checks or cash you take out of your bank they will deduct 1% from what is still in the bank and send it to Washington . Total put in the Bank $5,000.00. $100.00 of that you give to Washington .
    This bill, spells it out that everyone will pay the Government 1% of their gross income.
    Page 9 states the House and Senate shall convene not later than November 23, 2010 and Page 11 states the vote on passage shall occur not later than December 23, 2010"
    27 Oct 2010, 10:13 PM Reply Like
  • Credible Clarity
    , contributor
    Comments (160) | Send Message
     
    Read Snopes on this and you will find some clarity. There is something to it, but not so dire
    That said, it has come to the point that we don't any longer trust government, banks, insurance, doctors, teachers, police, attorneys, prison guards, religious leaders - all respectable and educated roles that were once revered, parents were proud. Add unions, firemen, economists, realtors, builders, environmentalists, and about all that is left is engineers, biologists (unless you're of the religious variety that doesn't believe in science), water purifyers.
    It is sad, but that is where we find ourselves.
    Who/what do you trust? Certainly not the markets manipulated daily by powers that be but cannot ultimately deliver.
    We are in a profound transition. I cannot say where we are going.
    27 Oct 2010, 11:02 PM Reply Like
  • Agbug
    , contributor
    Comments (1085) | Send Message
     
    To add a touch of levity - I've had good luck with dogs.

     

    As for the instututions you've listed, I find it difficult to not become totally jaded.
    28 Oct 2010, 08:35 PM Reply Like
  • apberusdisvet
    , contributor
    Comments (2860) | Send Message
     
    When the rest of the world sees this, silver should spike and there should be a major correction on SLV since the Ponzi scheme of perhaps 100:1 paper to physical will be exposed. Just don't expect anything but a fine for JPM or HSBC; they are part of the real power structure.
    27 Oct 2010, 10:20 PM Reply Like
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