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Tag Archives: cftc

JP Morgan whistleblowers confess bank manipulates gold & silver

Gold Silver

In a stunning development, two JP Morgan whistleblowers have confessed that the bank manipulates the gold and silver markets. This is truly a shocking admission by the courageous JP Morgan whistleblowers. In a blockbuster King World News interview, London metals trader Andrew Maguire told KWN that the two JP Morgan employees came directly to him with hard evidence that the ... Read More »

Jon Corzine charged by regulators in connection with MF Global collapse

jon corzine

Regulators on Thursday settled charges against MF Global over the futures brokerage’s collapse, and also charged former Chief Executive Jon Corzine and former Assistant Treasurer Edith O’Brien in connection with the alleged misuse of customer funds. The Commodity Futures Trading Commission said MF Global had agreed to settle all charges against it, pay a $100 million penalty, and pay all ... Read More »

Could gold be the next Libor scandal?

london city

US regulator considering an inquiry into London’s gold and silver markets to check if prices are open to manipulation. London’s financial sector was last night bracing itself for another official investigation into alleged price-fixing following reports that a US regulator is considering launching an inquiry into the City’s gold and silver markets. The Commodity Futures Trading Commission is discussing whether the daily setting of ... Read More »

Congressional report blames Corzine for MF Global’s collapse

Former MF Global CEO Jon Corzine Testifies To House Hearing On Company's Bankruptcy

Congressional investigators took aim on Wednesday at a former colleague, Jon S. Corzine, blaming the onetime senator’s risk-taking at MF Global for accelerating the brokerage firm’s demise. In excerpts from a broader MF Global report to be released on Thursday, Republican members of a Congressional panel outlined a withering critique of Mr. Corzine’s 19-month tenure at the firm. Mr. Corzine, a former Democratic ... Read More »

JP Morgan silver probe dead in the water, CFTC sides with the bankers

crash jp morgan buy silver

Two weeks after Bart Chilton, a member of the U.S. Commodity Futures Trading Commission, said that “I am hopeful and expect the silver investigation to conclude in the not-too-distant future, hopefully in September or October…It has already taken far too long,” the probe by the CFTC into silver price manipulation is coming to an end. The CFTC will not investigate allegations that ... Read More »

The War on Silver

pamp silver

It has taken more than 25 years for me to fully comprehend a conclusion that I never wanted to reach, namely, that there is an organized war against the price of silver that has come to include the US Government. I think the US Government involvement came into being almost accidently, but even if it was an accident of sorts, ... Read More »

PFGBest = MF Global part 2; $220 million in segregated client money has disappeared as founder attempts suicide

pfg best

UPDATE 2: Have no fear though since as recently as January 2012, the CFTC did not find any “material breaches of customer funds protection requirements” at FCMs (firms like PFGBest) UPDATE 1: Account-holders may not be so surprised to find who is the custodian for the PFGBest FX accounts: none other than huge MFGlobal fans, JPMorgan! Remember when the entire segregated account fiasco was supposedly fixed in the aftermath ... Read More »

One of many: $90 million silver bullion ponzi scheme exposed

Silver liberty coin ponzi scheme

The Commodity Futures Trading Commission is charging a South Carolina-based firm with operating a $90 million Ponzi scheme, fraudulently offering contracts on silver sales, but never actually purchasing any metal, the agency said late Wednesday. The CFTC charged Ronnie Gene Wilson and Atlantic Bullion & Coin, Inc, both of Easley, S.C., with violating the Commodity Exchange Act and CFTC regulations, ... Read More »