Though Wall Street regulators and the mega-banks they purport to regulate have long said that there exists no manipulation in markets and that anyone making claims to the contrary is nothing short of a conspiracy theorist, recent revelations suggest that even the most well known financial institutions on the planet have been actively involved in rigging asset prices. We need look no further for confirmation of this fact than Deutsche Bank, which last year admitted the precious metals market has been rigged all along and agreed to pay nearly $100 million in settlements resulting from their direct involvement in the manipulation of gold and silver prices.
Now that the cat is out of the bag and Deutsche Bank has agreed to turn over documents implicating other banks in related schemes, major mining companies are preparing lawsuits of their own. Straight-shooting First Majestic Silver CEO Keith Neumeyer, who in 2015 was the first mining company head to issue a public statement on the manipulation of precious metals prices by a small concentration of players, has said that the company’s legal team is closely monitoring the situation
Citing loss of revenue, jobs and shareholder value Neumeyer said in an interview with SGT Report that his company will likely be preparing legal action against the bullion banks involved in the rigging of prices.
I have an intimate knowledge of what goes on on the trading floors… how front running occurs, how wash trading occurs, how spoofing occurs… I’ve been looking for an opportunity to step in… I’ve been very vocal… I’ve talked to many executives that are running other silver companies… When the Deutsche news came out I sent an email to the law firm that’s responsible for this lawsuit and I had a conference call with two lawyers… we spoke about this case… I can tell you that a couple of the CEO’s of some very prominent silver companies in the States have no interest in pursuing this… Other CEOs have said that they are interested in pursuing this with First Majestic.
We’re monitoring this. We’re going to follow it. We’re likely going to, at some point, add our name to the class action lawsuit.
Watch the full interview detailing Neumeyer’s views on global cash bans, what silver prices may do once the manipulation comes to an end, how precious metals will be affected by the incoming Trump administration, current supply and demand fundamentals and an update on his latest projects including Silver One Resources:
Neumeyer and what appears to be a handful of other CEO’s in the industry are preparing to declare war on the banks that have been responsible for the price suppression schemes many knew to exist but couldn’t prove until now.
The problem was that the fox was left to guard the hen house, which of course led to an inevitable bloodbath:
It’s quite shocking to me… It’s very harmful to the shareholders…
…It is manipulation and it’s used frequently. There’s ways that the regulators can monitor it. They can see it happening. The exchanges know when false bids and offers get put into the system… Yet, the exchanges don’t step in because the exchanges are owned by the banks… and the banks are doing that kind of trading… It’s the self policing system, which doesn’t work because no one wants to police themselves because they’re all making too much money.
How does Bank of America or JP Morgan not have a losing day year-after-year of trading… it’s actually impossible… traders lose money… it happens all the time… yet they have not had a single losing day for at least a couple of years as far as I know.
As Neumeyer correctly highlights, it’s impossible for a trader or firm to have such a perfect record, unless of course they are working the system, which certainly appears to be the case based on the evidence.
Now that market manipulations have been proven at the highest levels of the bullion banking system, and with the pressure of lawsuits mounting, there is a distinct possibility that precious metals prices will be allowed to trade freely on the open market.
Such a development bodes well for precious metals investors, especially with Donald Trump set to take over the Presidency in a few short weeks. Neumeyer notes that several Trump appointees are gold-friendly, which could add further upside potential:
On a positive note regarding Trump, he’s got a couple of pro-gold individuals that he’s appointed to his inner circle and I’m looking forward to them starting to make some gold favored policies that will help us as a mining company and our investors as well.
Summing up, Neumeyer hints that precious metals could do very well in the years to come:
We’re in very uncertain times… the world is changing.
If history is any guide, global changes of this magnitude mean that the entrenched systems run by central banks and Deep State politics are set to be destabilized on a level we may have not witnessed in our lifetimes, which means assets like bitcoin, gold, and silver could become the safe havens of choice for investors.
the whole damn thing is rigged. Deutsche bank and UBS are just the first to be exposed. These people were literally laughing in the emails about how they were scamming. Kudos to Keith for having the balls to go after them.
The TPTB have a way of making things like this go away. Then again, with Russia and China buying gold like there’s no tomorrow, it would be in their interests to see prices appreciate. There are several factions vying for control here. If the manipulations are in fact happening, and I think they are, then it is only a matter of time before prices go to fair market value.
What THAT number actually is is an interesting argument in and of itself. The video has an interesting screen shot that shows based on our debt gold should be around $9000. I’ve heard that number before and higher. Mind you, if it ever goes to that level then we have a very serious problem on our hands because it means the system really is tanking.
50 dollar silver a few years ago was just an appetizer if they can stop the manipulation.
I don’t think they (the banks) will ever stop rigging, but maybe they back off a little. A little goes a long way with precious metal markets.
SHHHH! you guys are gonna FUCK UP the sale on silver and gold, fer crisesakes! i aint got enough of it yet….i want to see it back down for around 13$/oz, at LEAST for a minute, so i can spend the REST of my worthless FRN’s on PM’s.
OK, lets see how smart all of you are regarding Silver.
If I have a 1 Troy Oz round, that is minted as .999% Fine Silver, what is the remaining metal that makes up the .001% contained in the Silver round?
F. All of the above
G. None of the above
Guess without looking the answer up.
Martel – “Then again, with Russia and China buying gold like there’s no tomorrow, it would be in their interests to see prices appreciate.”
Yes that is why China is amassing such a large Gold holding is because they are in the process of moving the Yuan backed by Gold and have been working on that since 2014. And they are also creating a Gold exchange based only on actual physical Gold and not this manipulated paper gold phony market and rigged pricing system we have today.
Today with only $6000 invested, you can buy 1 paper Gold contract that controls $127,000 worth of Gold in the exchange. So with only about 8 of these contracts or only $47,000 down you can control over a Million dollars worth of Gold on the exchange. So when these POS hedge funds dump mass paper contracts into the system they can easily manipulate the Gold price downwards. Which doesn’t have any bearing on the real supply and demand of actual physical gold which takes the beating by paper contracts. And with Rehypothification, those who store Gold in vaults, relend the gold out, lease it and it is used as collateral to prop up paper contracts, and right now, there is 252 paper contracts for every physical ounce of physical Gold backing. So the system is really rigged by the massive paper controllers. controlling the price.
They can’t keep doing this. As more demand for actual physical Gold increases, the supply decreases, and probably why the US invades countries like Libya in my opinion, to steal their gold, to replace the gold they cannot back up for their shitty paper contracts. Or on 9-11 moving the gold reserves in the twin towers then file some insurance claim. Or whatever. Its all Fraud and deception. And why the US seems to be short on Gold and taking years to repatriate Gold back to its owners. I think the US still holds something like 35% of Germany’s Gold and after 3 years has still not given it back. They can’t give something back, what they don’t have in their possession, thus the delay IOU’s.
So when we see the real power players like China, Russia, and the Central banks and US banks amassing large stashes of Gold and Silver, we need to follow suit and take their lead as a signal to also collect Gold and Silver, and ride their coattails along, and at their choosing in time when they are good and ready, they will also manipulate the price upwards for their benefit, and we too can also profit. When it moves, it will go fast, so get on the PM train now and find your seat and buckle up.
Since Silver has a trading range of about 47 to 1, to 80 to 1 Silver to Gold, it is pegged in this trading range. And after Silver reaches about 80 to 1 it then drops back down to about 47 to 1. That has happened 3 other times in the last 20 years. That is the big move I am looking for, which will make Silver skyrocket upwards faster than Gold on the upside. Gold can be confiscated or illegal to trade, so Silver seems to be the safer purchase for investment and preserving wealth, besides the greater industrial uses and demand for physical Silver over Gold. There is less Silver supply in the world than Gold also, which makes the supply decrease. About 50% of all silver mined goes for industrial uses, as Gold has more intrinsic value for uses like coins and jewelry.
So why are they depressing Gold Prices right now? It may be so countries like the US can pick up Gold on the cheap to repatriate it back to Germany, in my opinion. Its a lot cheaper to manipulate it down to get a cheaper price, than if it was in a free market and having to buy it at a higher price to repatriate. Just my theory after reading a boatload of PM articles and connecting the dots as to why Gold is manipulated down right now, beside propping up the last vestiges of value in the shitty toilet paper we call the US Dollar.
And why I think, the US government is in collusion with the Gold traders and banks, and why they only get a slap on the wrist since it is also in the US Governments interest to suppress Gold prices at this time. We sure don’t see any bankers going to Jail over this do we? Or why it takes 3 to 5 years to get to a trial. They are all working together like the true fascist that they are.
~Zeus -So back up the truck now, while PM’s are on the cheap and get ready for the rocket ship ride to the moon. Buy Low / Sell High works for me.
Being fined $100 Million is nothing when they made Billions by manipulating the PM markets and nobody goes to jail.
I hope Trump puts some teeth into this and Throws these manipulators in prison for life. It won’t be so funny for them then. Its the only way to stop the Manipulation.
I see the manipulation daily in Silver, as soon as the NY NYMEX Markets open up. Look at this Silver Trading chart from last Friday in (Blue colored line) as living proof. http://www.kitco.com/charts/livesilver.html
It goes up and they swiftly beat the crap out of it as soon as the market opens up in NY. They been doing this for months like clock work.
Hey Zeus, you said, “I hope Trump puts some teeth into this and Throws these manipulators in prison for life. It won’t be so funny for them then. Its the only way to stop the Manipulation.”
Surely you have more imagination than that! I don’t want to support them and pay to guard them, not to mention unending appeals clogging the so-called justice system.
When the dollar goes up silver will be in the toilet. Don’t be misled by the pump and dumpers.
Ok, I’m not a super big fan of Ryan either, but still, this is good:
PAUL RYAN’S PROPOSED BUDGET CUTS
These are all the programs that the new Republican House has proposed cutting.
* Corporation for Public Broadcasting Subsidy — $445 million annual savings.
* Save America ‘s Treasures Program — $25 million annual savings.
* International Fund for Ireland — $17 million annual savings.
* Legal Services Corporation — $420 million annual savings.
* National Endowment for the Arts — $167.5 million annual savings.
* National Endowment for the Humanities — $167.5 million annual savings.
* Hope VI Program — $250 million annual savings.
* Amtrak Subsidies — $1.565 billion annual savings.
* Eliminate duplicating education programs — H.R. 2274 (in last Congress), authored by Rep. McKeon ,
eliminates 68 at a savings of $1.3 billion annually.
* U.S. Trade Development Agency — $55 million annual savings.
* Woodrow Wilson Center Subsid y — $20 million annual savings.
* Cut in half funding for congressional printing and binding — $47 million annual savings.
* John C. Stennis Center Subsi dy — $430,000 annual savings.
* Community Development Fund — $4.5 billion annual savings.
* Heritage Area Grants and Statutory Aid — $24 million annual savings.
* Cut Federal Travel Budget in Half — $7.5 billion annual savings
* Trim Federal Vehicle Budget by 20% — $600 million annual savings.
* Essential Air Service — $150 million annual savings.
* Technology Innovation Program — $70 million annual savings.
* Manufacturing Extension Partnership (MEP) Program — $125 million annual savings..
* Department of Energy Grants to States for Weatherization — $530 million annual savings.
* Beach Replenishment — $95 million annual savings.
* New Starts Transit — $2 billion annual savings.
* Exchange Programs for Alaska Natives, Native Hawaiians, and Their Historical Trading Partners in Massachusetts — $9 million annual savings.
* Intercity and High Speed Rail Grants — $2.5 billion annual savings.
* Title X Family Planning — $318 million annual savings.
* Appalachian Regional Commission — $76 million annual savings.
* Economic Development Administration — $293 million annual savings.
* Programs under the National and Community Services Act — $1.15 billion annual savings.
* Applied Research at Department of Energy — $1.27 billion annual savings.
* Freedom CAR and Fuel Partnership — $200 million annual savings..
* Energy Star Program — $52 million annual savings.
* Economic Assistance to Egypt — $250 million annually.
* U.S.Agency for International Development — $1.39 billion annual savings.
* General Assistance to District of Columbia — $210 million annual savings.
* Subsidy for Washington Metropolitan Area Transit Authority — $150 million annual savings.
* Presidential Campaign Fund — $775 million savings over ten years.
* No funding for federal office space acquisition — $864 million annual savings.
* End prohibitions on competitive sourcing of government services.
* Repeal the Davis-Bacon Act — More than $1 billion annually.
* IRS Direct Deposit: Require the IRS to deposit fees for some services it offers
(such as processing payment plans for taxpayers) to the Treasury,
instead of allowing it to remain as part of its budget — $1.8 billion savings over ten years.
* Require collection of unpaid taxes by federal employees — $1 billion total savings.WHAT???
* Prohibit taxpayer funded union activities by federal employees — $1.2 billion savings over ten years.
* Sell excess federal properties the government does not make use of — $15 billion total savings.
* Eliminate death gratuity for Members of Congress. WHAT ???
* Eliminate Mohair Subsidies — $1 million annual savings.
* Eliminate taxpayer subsidies to the United Nations Intergovernmental Panel on Climate Change — $12.5
million annual savings. BIG GREEN MONEY WONT LIKE THIS ONE BIT!
* Eliminate Market Access Program — $200 million annual savings.
* USDA Sugar Program — $14 million annual savings.
* Subsidy to Organization for Economic Co-operation & Development (OECD) — $93 mm annual savings.
* Eliminate the National Organic Certification Cost-Share Program — $56.2 million annual savings.
* Eliminate fund for Obamacare administrative costs — $900 million savings.
* Ready to Learn TV Program — $27 million savings..
* HUD Ph.D. Program.
* Deficit Reduction Check-Off Act.
** TOTAL SAVINGS: $2.5 Trillion over Ten Years
******What is all this doing in the budget in the first place?!****
The fleecing of Amerika. Time to end all subsidies and similar wasteful spending.
Also get rid of:
Dept. of Education
ALL foriegn aid
Close 50% of worldwide military bases
And about 90% of the alphabet agencies…
guess that’s why yer genius…i’m with yuh all the way!…don’t forget the EPA and dept. of energy.
only 90% ??????
getting closer to 99%
You forgot to include the Cutting off of all Lifetime Pensions and medical care for members of Congress, including those who only serve one term. That’s Plunder and fraud. Many are millionaires and don’t need subsidies from the Tax payers. If they do that, then I know we are making progress.
President Trump :
Premieres Jan 3rd 2017 on Frontline (PBS)
One thing he forgot! All the Muslim Brotherhood Appointees that Obama sneaked into our government that are drawing salaries to undermine our freedom. Trying to get Sharia law invoked for all the Muslims in our country. Sharia is not compatible with our Constitution and never will be. NEVER WILL BE!
No sugar subsidies:
Does that mean the price of sugar (and everything with sugar in it !!) will sky rocket.
Oh shit. Better stock up. It’s already too fricken expensive.
Sugar is a Killer of health in Americans.
Also cut off all US backed Guaranteed Student Loans. And watch the cost of college drop 85% annually.
Cut off EBT Food Stamps and also watch the cost of food drop by 50%.
Cut off all Subsidies to Big Oil Companies, and make them pay for their own security in foreign countries instead of the US Military. That’s the biggest scam out there.
Close 50% of all US Foreign Military bases world wide also. The Pentagon cannot account for 25% of its annual budget. So cut the Pentagon budget by 25% day 1. So every 4 years an entire Pentagon Budget disappears. Who the F*ck is pilfering it? Time to put these Finance Generals in Prison.
Grow some sugar beets or sugar cane. It will hurt me a lot more than you lol. I use hundreds of pounds a year 😛
sugar is cheaper, or at least AS CHEAP as i’ve seen it in years…..speakin’ of cheap, anyone lives in so cal, get skippy peanut butter for 99c til tomorrow..FOOD 4LESS…that’s a steal!…and good FOR you….and at winco, ham whole OR butt is 56cents….another steal….cheapest price in at least 10 years.
buttcod, (hey, a new one for ya!) Skippy peanut butter is loaded with sugar, check the label.
thank GAWD fer that!…90 calories in a tablespoon…calories will be hard to find when the excrement contacts the rotating mass of twisted metal…these are CHEAP calories, you don’t have to cook it, thereby spreading you location to the dumb masses, and it’s YUMMY…..and it keeps for at least 5 years…i’m eating some now that’s over 5 years old.
it’s in MY bugout bag.
ever seen cane grow and get harvested?
doesn’t take a lot.
The “subsidies” are merely a ransom.
Sugar is less than 50 cents a pound on sale here. I have bought lots of large screw-top containers from Dollar General. They each hold 8 pounds of sugar. Sugar keeps forever.
Get all you can.
Or as our former preacher used to say, get all you can, can all you get, and then sit on the can. He actually said that in church one Sunday morning.
Organic Certification Program:
We won’t have any way of knowing which vegtables were grown in an unhealthy fashion, using pesticides and planting the same crop over and over again in mineral depleted soil.
This is no savings. This is asking for CANCER. !!!!!!
Wake up. This is rape.
I have read that a lot of things so called USDA organic are not truly organic. Get rid of the fda usda fraud crap and a private orginization will step in and do a better job for half the price. Organic won’t go away, just the govt.’s shitty corrupt practices and $ pillaging.
the organic program is just another ruse…a way of gaining more control on the food market. That should be dumped A.S.A.P. and the lobbyists barred from government access…MONSANTO!!
We’re all going to have to let go of one or two of our favorite government programs, no matter how beneficial we believe they are. When 40 cents out of every dollar spent is borrowed, the true benefit of almost every program becomes non-existent.
Right on cue – a “glitch” shuts down customs at airports nationwide
Why was any of this metals fixing scheme allowed to even start? Like anything else, it just keeps going and going. Hope this scam unravels like a cheap, moth-eaten suit.
Trump will face a decision point.
Trump will be briefed on the ongoing manipulation of all markets, by the FED and Treasury department.
At that point, Trump will have to decide whether he wants to be part of a continuing fraud ot the For creditors.
I’ve got a boatload of silver motor contacts … Guess I should start thinking about converting them over to coins or something tradable.
It’s just a pile of metal right now, convert it into cash and buy whatever you want to keep around.
That’s what I was thinking too Smokey
but I still have a bunch to seperate the silver from the copper base and its labor intensive.
The widow of opportunity to sell high buy low might take a while to cycle again tho
I could go on guts and buy now sell the contacts later to recoup my investment but as it stands I got nothing invested but my labor and a couple of fine tooth bandsaw blades
I don’t know if anybody caught the vid I posted up yesterday “Inside Assads Syria”
but the only acceptable Currency presently is CASH…. so I think about that too
Suits like this never produce any worthwhile results.
FWIW, what Silver (or any commodity) is actually worth is what people who actually need the stuff are willing to pay to people who actually have the stuff in hand and are willing to sell it to them for.
Paper markets are not based on this, they exist mostly for the purpose of investment speculation with the vast majority of contracts purchased and sold by people with absolutely no intention of actually possessing the physical metal. When retail prices are closely following spot (paper contract) prices it indicates an abundance of the metal available for those that actually want or need to possess it with both buyers and sellers agreeing on the spot price as a valid price.
Gold is rigged. Silver is rigged. The stock market is rigged. The news is rigged. This is like a bad episode of The Twilight Zone. Every decision you make is based on incorrect info. Therefore you are rigged. They’re not called The Powers That Be, for nothing.
Slap on the wrist fines will do nothing. “Give me control of a nations money supply, and I care not who makes it’s laws”. Give the American people the right to audit the Federal Reserve and their nations gold vaults and you damn sure will. But it must be a proper audit, unrestricted, independent and headed with integrity. Then we can proceed with truth. This must be done, or we are, it is time.
The little Town Of Pocahontas Ar. It is run by a big group of libtards. The Editor of the local paper is a rabid demicrap. Any way her eldest dope fiend of a son lost his State park job for being high and damaging a state owned vehicle. So the county officials made a position for him. He is the County Historian and Grant Writer. And he is mainly supposed to try and get free money in the form of grants from the government coffers. I hope Ryan is successful and the parasites no longer can suck from the government teat.
They’ll just have him go after the private foundation grant monies. Which is fine, but the real issue is crony and family politics.
Time for a phone call to the State Attorney General about a corrupt employee. No way any public entity should have hired a drug user with a record of at-work intoxication and property damage.
The fool took a state park vehicle and drove it to a location near the state prison. he is gay ant it was speculated he was looking for love. Got the vehicle stuck and blew up the engine. High on drugs. and what happens he is rewarded by them creating a local position for him. That area isn’t of any historical importance About the only thing that happened was a lynch mob broke into the jail and hung a black man from the town creek bridge. The black man was accused of shooting & killing a town marshall. It certainly doesn’t need a county Historian.
People who have the gold make the rules. They also ignore the rules that other people make for them to follow. They seem to get away with too much!
Buttcrack aint kidding, talk about trendy phuck ups. Him aint kidding, this system is got to go, get ready for the 2017 tax revolt, that’s what the webbots predicted. HALFPASTHUMAN.COM Cliff High has a system that literally scares the crap out of my ass, having seen what its capabilities are since 911, and since I got ahold of a copy in 2009
Grandpa has the right idea but the audit is to placate the slow learners as well as the elite. We’re out of time- abolish the Fed now and make Au and Ag legal tender.
Absolute horse shit. These companies are in with the banks. They have had years to do something. Occasionally the piss weak CEO of one of these silver companies posts on some alternative news site that he might do something to keep the investors living in hope. Absolute fucking horseshit!!!! If they want to do something then stop selling silver. Stock pile it or close up shop you dumb fucks but this bullshit by so called CEO’s that might give a fuck about investors is as big a sham as is the whole banking and political agenda.