Telegraph: HSBC and JP Morgan accused of manipulating silver market

Asheron

ZeroHedge.com reported this a week ago, The mainstream was rather delayed about it

HSBC and JP Morgan accused of manipulating silver market
Have HSBC and JP Morgan been manipulating the silver market to keep the price artificially low?


Silver ingot bars. The complaint alleges that JP Morgan and HSBC started a conspiracy to manipulate the market for silver futures and options contracts for their own benefit Photo: Alamy
This is the accusation levelled at the two global banking giants by investors in the US – with another lawsuit being filed last week.

On Tuesday, US law firm Kaplan Fox & Kilsheimer filed a class action complaint on behalf of an individual investor, Eric Nalven.



The suit named JP Morgan and HSBC in connection with an alleged conspiracy and manipulation of the market for silver futures and options contracts traded on the Comex exchange in New York.
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.
An informant, who is an ex-employee of Goldman Sachs in London, blew the whistle on the activity, claiming he had been told first-hand by traders at JP Morgan that the bank was manipulating the silver market.
Specifically, the complaint alleges that JP Morgan and HSBC acquired massive short positions on silver futures contracts in an effort to artificially depress the price of the silver futures market.



http://www.telegraph.co.uk/finance/newsbysector/industry/mining/8115810/HSBC-and-JP-Morgan-accused-of-manipulating-silver-market.html

Asheron

Wow! what we knew for 4 years is now in the Mainstream Media.

nearlynew

If you get your news from anywhere but the mainstream, you're just a tin foil hatted conspiracy theorist nutter.

Asheron

Now it's in the Telegraph everyone will be like.............. O it is True!

But why?

Why do people trust the Mainstream Media ? the people that control the Media are the Bankers!

When I talk about Bankers..........

I don't mean Halifax and Barclays.......... I'm talking about the Super Rich banking families that control our politicians and you

Cleaver

nearlynew wrote: »

If you get your news from anywhere but the mainstream, you're just a tin foil hatted conspiracy theorist nutter.

You tin foil hatted conspiracy theorist nutters just love playing the victim don't you?

You're correct, we all think you're nuts. And we know that you lot wouldn't have it any other way.

Cleaver

Asheron wrote: »

lol yea, but now it's in the Telegraph everyone will be like.............. O it is True!

But why?

Why do people trust the Media ? the people that own the Media are the Bankers

I don't 'trust' the Telegraph or Zerohedge. Or any other media source really. I just see and hear stuff then make of it what I will and I think most people do the same.

As I said above though, it makes you conspiracy nuts feel good to think that we ('we' being non-conspiracy nuts) are being brainwashed by mainstream media, so let's keep the arrangement going.

After all, let's say from tomorrow millions of people started reading Zerohedge and those websites written by people who think lizards rule the world they would become the mainstream media. Then what would you do? All of Asheron's posts would have to come from Grazia or somewhere similar.

Silverbull

Cleaver wrote: »

I don't 'trust' the Telegraph or Zerohedge. Or any other media source really. I just see and hear stuff then make of it what I will and I think most people do the same.

As I said above though, it makes you conspiracy nuts feel good to think that we ('we' being non-conspiracy nuts) are being brainwashed by mainstream media, so let's keep the arrangement going.

After all, let's say from tomorrow millions of people started reading Zerohedge and those websites written by people who think lizards rule the world they would become the mainstream media. Then what would you do? All of Asheron's posts would have to come from Grazia or somewhere similar.

Then you missed out on gold and silver gains,

Cleaver

Silverbull wrote: »

Then you missed out on gold and silver gains,

What makes you say that? Some of my portfolio is in gold and silver.

This may shock you, but there are people who don't post up zany articles about gold and silver 24/7 on an obscure forum, but yet still have some of their money invested in that area. Strange but true.