There are several Goliath “Legal Complaints” that potentially could remove the criminal institutional controls.
This report is yet another among the growing list of “Legal Complaints” slowly, inch-worming its way through the courts seeking remedy. I note that the banks have already won a small victory to get the cases filed under one single complaint, and keeping the location to a New York courtroom (Financial crime capitol), however we should remember the story of David and Goliath.
For similar lawful pursuits browse the RELATED links, and comments section. ~Ron
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“Secret Scheme To Manipulate The Price Of Silver” – Lawsuits Against Banks Proceed
The lawsuits against banks that alleges they engaged in a secret scheme to manipulate the price of silver bullion is proceeding.
Gold fixing in London at NM Rothschild and Sons began in September 1919
Manipulation of the silver market was covered in a recently released ‘Get REAL’ Special on Silver presented by Jan Skoyles. Mark O’Byrne of Goldcore.com was interviewed and the interview was an in depth look at this silver market today.
Litigation alleging that Deutsche Bank, Bank of Nova Scotia and HSBC Plc illegally fixed the price of silver were centralised in a Manhattan federal court yesterday. The banks have been accused of rigging the price of billions of dollars in silver to the detriment of investors globally.
Lawsuits filed by investors since July over the allegations were consolidated yesterday in the U.S. District Court for the Southern District of New York, following an order issued last Thursday by the U.S. Judicial Panel on Multidistrict Litigation, a special body of federal judges that decides when and where to consolidate related lawsuits.
The banks abused their position of controlling the daily silver fix to reap illegitimate profit from trading, hurting other investors in the silver market who use the benchmark in billions of dollars of transactions, according to the suit.
Investors claim, the banks unlawfully manipulated silver and silver futures.
Sharelynx
The U.S. Judicial Panel on Multidistrict Litigation ruled that the cases should be handled by U.S. District Judge Valerie Caproni in Manhattan, who is already overseeing similar litigation over alleged gold price fixing.
Three lawsuits were originally filed in Manhattan, and two were filed in Brooklyn. The plaintiffs in the Brooklyn lawsuits had sought to have the litigation consolidated there.
The banks had also asked that the litigation be consolidated in Brooklyn, in the Eastern District of New York. However, the multidistrict litigation panel said Manhattan made more sense because the defendants all had corporate offices there and also because the cases involved issues similar to the gold litigation.
The plaintiffs allege that the banks abused their power as participants in the silver fix, a London based benchmark pricing method dating back to the Victorian era, in which banks fixed silver prices once a day by phone.
In August, the system was replaced by a new benchmark system administered by the CME (Chicago Mercantile Exchange) and Thomson Reuters.
HSBC spokesman Neil Brazil declined to comment and representatives of the other banks did not immediately respond to requests for comment.
This follows the initiation of similar actions against some bullion banks for alleged gold price manipulation earlier this year. The three named banks, Deutsche Bank, Bank of Nova Scotia, and HSBC are alleged to have abused their position at the LBMA to profit from inside knowledge.
The fixing of the price of silver is a daily operation where banks on the panel of the LBMA agree on a price for the precious metals which are then used throughout the financial, jewellery and mining industries throughout the day.
It is alleged that some of the banks who fix the price, position themselves advantageously in the silver market before the price is made public.
“Defendants have a strong financial incentive to establish positions in both physical silver and silver derivatives prior to the public release of silver fixing results, allowing them to reap large illegitimate profits,” plaintiff Scott Nicholson told the AFP.
Separately, Bullion Desk reported yesterday that JPMorgan Chase Bank is now the fifth accredited member of the silver pricing benchmark, the LBMA has confirmed, with others parties “in the pipeline”, a spokesman said.
The American multinational bank which has been the subject of silver manipulation allegations by Max Keiser and others, took part in its first silver benchmarking session yesterday.
A spokesperson said they had completed “strict regulatory controls” for accredited members..
JP Morgan becomes the fifth member, alongside HSBC Bank USA, Mitsui & Co Precious Metals, the Bank of Nova Scotia – ScotiaMocatta and UBS AG.
Furthermore, the LBMA has confirmed that several other parties are also in the process of joining the list, subject to passing regulatory requirements.
Several Chinese banks have expressed interest in participating in the new global price setting mechanism for silver, according to the head of the LBMA.
The LBMA ushered in a new era of electronic benchmarking for London’s precious metals market in August when an algorithm was used for the first time to set the benchmark price for silver after recent scandals regarding price fixing and concerns about the nature of the gold and silver fix.
It will be interesting to see if Chinese banks partake in the new fix process as the concern is that the fixes remain the play things of certain western banks and are not representative of global physical demand and supply of actual gold and silver bullion.
Manipulation of the silver market was covered in a recently released ‘Get REAL’ Special on Silver presented by Jan Skoyles. Mark O’Byrne of Goldcore.com was interviewed and the interview was an in depth look at this silver market today.
See Video here
GOLDCORE MARKET UPDATE
Today’s AM fix was USD 1,223.50, EUR 967.58 and GBP 768.63 per ounce.
Yesterday’s AM fix was USD 1,233.00, EUR 974.55 and GBP 772.41 per ounce.
Gold climbed $0.70 or 0.06% to $1,233.40 per ounce and silver slipped $0.05 or 0.29% to $17.40 per ounce yesterday.
Silver in U.S. Dollars – 1984 to October 14, 2014 (Thomson Reuters)
Gold in Singapore fell 0.3% to $1,222.10 an ounce. The metal hit a four week high of $1,237.90 on Tuesday, before pulling back to close 0.4% lower.
Silver for immediate delivery or Swiss storage fell 1.4% to $17.19 an ounce in London. Palladium dropped 1.6% to $782.10 an ounce. Platinum lost 1% to $1,254 an ounce.
Gold fell on low volume again and futures trading volume was 40% below the average for the past 100 days for this time of day, data compiled by Bloomberg show.
Volumes for the benchmark spot contract on the Shanghai Gold Exchange are about 33% lower than in late September, the latest data show however physical deliveries remain very high and are headed for 2,000 tonnes again in 2014.
Yesterday, Germany’s Economy Ministry cut its economic growth forecasts for 2014 and 2015, before the Federal Reserve releases its Beige Book on economic conditions.
See Essential Guide To Gold and Silver Storage In Switzerland
Vía Max Keiser http://ift.tt/1wFLQSY
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RELATED:
https://ronmamita.wordpress.com/2013/06/14/3-billion-class-action-lawsuit/
https://ronmamita.wordpress.com/2013/06/30/government-claims-the-people-are-the-enemy/
https://ronmamita.wordpress.com/2014/02/15/another-david-vs-goliath-lawsuit/
https://ronmamita.wordpress.com/2014/03/11/legal-complaints-may-ultimately-unravel-the-current-global-financial-cartel/
https://ronmamita.wordpress.com/2014/04/18/legal-complaints-may-ultimately-unravel-the-current-global-financial-cartel-part-2/
https://ronmamita.wordpress.com/2014/04/21/banking-fraud-under-attack/
https://ronmamita.wordpress.com/2014/06/10/institutional-crime-and-legal-complaints/
https://ronmamita.wordpress.com/2014/06/10/institutional-crime-and-legal-complaints/
https://ronmamita.wordpress.com/2014/08/07/austrian-student-launches-global-class-action-against-facebook/
https://ronmamita.wordpress.com/2014/08/04/bank-of-america-ordered-to-pay-1-2-billion-for-fraudulent-mortgages/
https://ronmamita.wordpress.com/2014/09/11/september-11-pull-it/
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Silver Update 10/6/14 Liars And Lunatics
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YET MORE BANKSTERS “SUICIDED”…
I may perhaps be forgiven my preempting any conclusions to be argued here, by titling this article “Yet More Banksters ‘Suicided’”… In fact, it could be argued that I am making two assumptions, not only that they are being “suicided”, but that they are “banksters” to begin with. To clarify the latter point, in today’s world, where a criminal British bank keeps sending me form letters to accept their usurious credit cards, and which I keep refusing (using their return postage paid envelopes to send my angry form letters demanding that they cease and desist perstering me with their crummy offers and to participate in their criminality), I assume that banking is now more or less a “family business” rather like the Mafia, and some members of the family may be relatively isolated from the family business; others, like Michael Corleone, might be pressured by circumstances to take “a more active role.” As for so many banksters taking walks off of roofs, yes, I do think this is a pattern, and not accidental. After all, even though all the families are involved in the same criminal business, and cooperate in it to rig markets and rates (think LIBOR here folks), they also turn the guns loose on each other, make each other wear concrete boots for a walk on the river, or throw each other off of roofs, or use the old tried and true nail-gun-in-the-head method. It’s all just Venice, Florence, Genoa, and Amsterdam, updated with a bit of theatrical modern technology.
In fact, my dot-connecting has been positively tame compared to some of the emails I receive in this regard. One gentleman nicely reminded me that M. Christophe de Margerie was the oil tycoon that reminded the whole world that petroleum did not have to be traded in dollars, and that his “death by lone nut snow plow driver” and “airplane crash” might be payback for the untimely death of David Rockefeller’s son in an airplane crash earlier this year. Well, personally, I have no idea… is Mr. Rockefeller a Michael Corleone? or is the family business run by other more “let’s loose the thugs against the competition” people, like grand-dad, the old family don himself?
All this, of course, is prelude to the point: there are now yet more banksters who have been suicided, one of whom, M. Thierry, we have already noted. This one, however, is a former Deutsche Bank lawyer, and this one is almost, in a certain sense, too good to be true, or rather, too bizarre to be believed save as a bad plot in a bad Hollyweird B movie:
Another Deutsche Banker And Former SEC Enforcement Attorney Commits Suicide
more dead banksters illuminate taking care of business goodfellows style: Another Deutsche Banker And Former SEC Enforcement Attorney Commits Suicide
Yes,you read that correctly: (1) a lawyer,(2)with the surname of Gambino, (3) working for Deutsche Bank… It doesn’t get any better….
…or does it?
Mr. Gambino, as noted, was found hung by a staircase banister – a bit of intriguing symbolism if one thinks about it a bit, shades of another Italian banker found hanging beneath a bridge, and other stuff – but the real question is, why would anyone want him suicided? I believe a threadbare pattern is beginning to emerge, one disclosed in the Zero Hedge version:
In other words, part of the bankster suicides have to do with market manipulation, and some of them, like the unfortunate Mr. Richard Talley, who woke up to nails in his head, were involved in mortgage titles; and against the wider context of the financial fraud and bailouts, we saw (1) a massive expansion of credit default swaps and derivatives, which collapsed with the “housing bubble”, which in turn exposed the massive mortgage fraud and hence bad paper in the system(which may have been exposed by assiduous title researchers like Mr. Talley). Interestingly, Deutsche Bank’s exposure to both is rather high, if recent Fed pronouncements are of any value. And both the mortgage fraud and the bad paper are, as readers here know, intimately related to the bearer bonds scandals (their own unique kind of bad paper), and drug traffic, and hidden systems of finance.
So, what’s the bottom line for today’s high octane speculation? It would appear that the bankster suicides might indicate that the whole post-war system of hidden finance is in danger of coming unraveled faster than a new system can be erected, and that various people in management positions in prime banks are beginning to connect dots that were connected by a previous generation, and realizing how deep, pervasive, and fragile the whole system is. It might indicate therefore that they are realizing that the central player in the central banking model is no longer the central banks, but that dangerous alliance between the technology corporations, the intelligence apparatus, and international criminal enterprises like the drug trade. Would all the rival members of the family – the Banksterini, the Technocrati, the Intelligentsi, the Mafiosi – want to keep the thing from unraveling until a new system could be erected? Let us hypothesize further:Would they want to conceal how a new equity based system of finance was brought into existence through decades of criminality and massive fraud by burning the bad paper, and anyone who knew of it, or at least of significant parts of the story?
I suspect you know the answers to these questions already, and I suspect you know that this means that the banksters, even the “really bad” ones in the central banks, might not be the ultimate bad guys in the play, but rather, the intelligence-technocratic corporation interface. But it is, after all, high octane speculation, the stuff of “out there” Lewis Perdue thriller novels (and a certain one were, as it turns out, very prophetic) and Hollywood B gangster movies, starring Edward G.Robinson and James Cagney and Sydney Greenstreet.
See you on the flip side. http://gizadeathstar.com/2014/11/yet-banksters-suicided/
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BAP Panel Raises the Stakes Against Deutsch et al — Secured Status May be Challenged
Fur Further Information please call 954-495-9867 or 520-405-1688
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ALERT FOR BANKRUPTCY LAWYERS — SECURED STATUS OF ALLEGED CREDITOR IS NOT TO BE ASSUMED
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I have long held and advocated three points:
see 11/24/14 Decision: MEMORANDUM-_-ANTON-ANDREW-RIVERA-DENISE-ANN-RIVERA-Appellants-v.-DEUTSCHE-BANK-NATIONAL-TRUST-COMPANY-Trustee-of-Certificate-Holders-of-the-WAMU-Mortgage-Pass-Through-Certificate-Series-2005-AR6
This decision is breath-taking. What the Panel has done here is fire a warning shot over the bow of the California Supreme Court with respect to the APPLICATION of the non-judicial process. AND it takes dead aim at those who make false claims on false debts in both nonjudicial and judicial process. Amongst the insiders it is well known that your chances on appeal to the BAP are less than 15% whereas an appeal to the District Judge, often ignored as an option, has at least a 50% prospect for success.
So the fact that this decision comes from the BAP Panel which normally rubber stamps decisions of bankruptcy judges is all the more compelling. One word of caution that is not discussed here is the the matter of jurisdiction. I am not so sure the bankruptcy judge had jurisdiction to consider the matters raised in the adversary proceeding. I think there is a possibility that jurisdiction would be present before the District Court Judge, but not the Bankruptcy Judge.
From one of my anonymous sources within a significant government agency I received the following:
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