December 10, 2010
In March 2010 London trader and whistle blower Andrew Maguire exposed JPM’s methods of suppressing the silver market in a series of emails to the Eliud Ramirez a senior investigator of the U.S. Commodity Futures Trading Commission enforcement division. He provided data and was even able to accurately predict the method and timing of events that prove market manipulation on the part of JPM and the New York Federal Reserve, a feat impossible in a true free market system. Maguire handed JPM over to the CFTC on a “silver platter” (pun intended) His emails went largely ignored.
The inventor of the virtual specialist technology / prediction markets and the Hollywood Stock Exchange, Max Keiser, along with Zero Hedge and other investors like Eric Sprott are leading a campaign to “Crash JP Morgan Chase.” The theory is if 100 million people purchase one piece of silver at about $30 an ounce this will cause JPM to default on its naked short sale silver contracts, an estimated $1.5 trillion liability against their market capital of $150 billion. Keiser predicts the result will be $500 silver spot price and more importantly the Death Star will crash when their stock plunges as a result of their default on their naked silver position and are forced to bankrupt.
“This campaign has 100% chance of working; it falls into the category of a self-fulfilling prophecy. As more individuals buy silver and gold, all attempts to replenish the system with more paper money will only cause the purchasing power of the silver and gold to increase – thus prompting more people to buy more. Any attempts to bail out JP Morgan would have the same effect. If the US Fed was to flood the system with bailout money for JP Morgan to cover their silver short position (as they did after the collapse of Long-Term Capital Management), more inflation will ensue and the price of silver and gold will rise more, triggering more purchases. A virtuous circle is born.” wrote Keiser in the London Guardian.
A devastating loss for the Wall Street oligarchs and a huge win for Main street. This type of success can expose the controlled market manipulation on a mass scale and bring to light JPM’s other dubious positions. “In the end, it’s about transferring wealth back to the people from where it came” said Keiser.
Converting fiat currency back into real currency like silver, gold and other precious metals will expose the fiat ponzi scheme and help bring sound monetary policy back to the United States and could pave the way for the world. Even Robert Zoellick, the president of the World Bank, has called to bring gold back into the global monetary system. Although his agenda is less about putting wealth back in the hands of the people and more about creating a global currency that his bank will administrate. As gold prices rise investors will dump local currencies and invest in the World Banks gold backed currency effectively collapsing regional currencies and advancing the cause of global governance. Stated differently: The World Bank wants to control the worlds currency so it can then form a global government. Sound crazy? Think about it.
Today Max Keiser, economists and investors are asking all Americans to buy at LEAST one (1) ounce of PHYSICAL Silver offline at a local coin dealer or pawn shop or online at a primary dealer or on the secondary market like eBay.com. Do NOT buy any silver certificates or speculative silver mining stocks as this is the very fraud they are attempting to collapse.
Let we the people bring down the “Death Star” together.