I also asked a GATA news source why Mr. Maguire had not discussed the accident in his interview with King World News. He is reported to be ‘very concerned’ for his safety and is reluctant to discuss this aspect of his coming forward. I think this is understandable. It must be very hard to do this sort of thing.
The mainstream media in the US is very slow to pursue investigative pieces, with a few notable exceptions. It has in too many cases become an extension of the corporations that own the once proud newsrooms.
A London-based precious-metals trader who had accused JPMorgan Chase of manipulating the gold and silver markets was involved in a bizarre weekend car accident that triggered a police chase before the suspect was nabbed.
Andrew Maguire, a metals trader at the London Bullion Market Association, and his wife were traveling in their car when a second car coming out of a side street struck their vehicle. That car then hit two more vehicles before fleeing.
London cops using helicopters and patrol cars chased the hit-and-run driver before nabbing that person, whose name has not been released by authorities.
Maguire and his wife were released from the hospital yesterday. London police would not comment on the accident investigation.
The hit and run occurred after Maguire’s name came to light Thursday during a US Commodities Futures Trading Commission hearing on limiting gold and silver positions held by large market participants in order to prevent manipulation.
During the hearing, Maguire was identified as having sent e-mails to Bart Chilton, a CFTC commissioner, and Eliud Ramirez, head of the commission’s enforcement division, alleging that JPMorgan had used its massive metals positions to manipulate the commodities markets.
In one e-mail, Maguire wrote, "It is common knowledge here in London among the metals traders that it is JPM’s intent to flush out and cover as many shorts as possible prior to any discussion in March about position limits," referring to last week’s CFTC hearings.
The Andrew Maguire LBMA whistleblower story just refuses to go away, and it is about time someone from the mainstream media (yes, we know you read us constantly) finally picked up on this massive expose about the decades of fraud and manipulation in the commodities market, with a focus on gold and silver. Don’t worry, the Wall Street ad revenue sources you may lose from highlighting this "must read" story will be more than offset by the increased readership you will gain.
Today we have the latest segment in this saga, courtesy once again of Eric King who interviews GATA members Bill Murphy, Chris Powell and Adrian Douglas. As is pointed out in the interview, "The CFTC, on the public record, has been shown to have known in advance of massive market manipulation, and have done nothing." Isn’t this the same reason why Markopolos called SEC the biggest bunch of idiots in existence vis-a-vis their performance in the Madoff debacle? It is time someone big blew this up finally. Perhaps this will explain why it never gets mainstream attention: "JPMorgan chase is an agency of the US government, rigs the markets, and undertakes market manipulation." To all our readers: this is yet another "must hear" interview.
From King World News:
In this interview with GATA we continue the saga after just having interviewed Andrew Maguire, the whistleblower out of London. This gives a short and long-term view down the rabbit hole through the eyes of 3 of the GATA board members. GATA was so heavily involved not only in breaking the news at the CFTC meeting about the the metals manipulation but also at the same time quite possibly uncovering the largest fraud in history. The Gold Anti-Trust Action Committee was organized in January 1999 to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities. The committee arose from essays by Bill Murphy, a financial commentator, and by Chris Powell, a
Gunmen have stormed American University of Afghanistan in Kabul on Wednesday night as witnesses said they heard gunfire and explosions ringing out. According to media reports, the attackers have infiltrated the educational institution. Teachers and hundreds of students are said to be sheltering inside the building.
American Univ. in Kabul is reportedly under attack -American teachers & hundreds of students are sheltering inside https://t.co/QJPc6jZzDt
I’m making my way through the Sanford C. Bernstein research piece that everyone is talking about today, in which the sell-side brokerage compares passive investing to a combination of Nihilism and Marxism. To be clear, the author does not make the case that passive is bad or active is better – he’s just saying that there are policy considerations that should be thought about before regulators and government officials proclaim the shift to low-cost passive as universally beneficial for society.
So far, it’s very thought-provoking. I’m not sure how much of it I agree or disagree with yet, I like to stew on these things a bit before reacting.
By The Foundation for Economic Education. Originally published at ValueWalk.
Russian Smugglers Renovate Road Neglected By The Government
Who will build the roads if not the government? As it turns out, even criminals will, if they need to.
The public- and profit-minded entrepreneurs of the black market in Belarussia have taken it upon themselves to improve business by upgrading their transportation routes. Smugglers adopted a gravel road from Minsk to Moscow, raised the road, widened it, and added more turning points to increase access for their heavy goods trucks (fruit weighs a lot). The secret project was quickly rewarded with heightened traffic and an eventual government takeover, complete with customs....
This morning's release of the July Existing-Home Sales decreased from the previous month to a seasonally adjusted annual rate of 5.39 million units from 5.57 million in June. The Investing.com consensus was for 5.51 million. The latest number represents a 3.2% decrease from the previous month and a 1.6% decrease year-over-year.
Here is an excerpt from today's report from the National Association of Realtors.
Lawrence Yun, NAR chief economist, says existing sales fell off track in July after steadily climbing the last four months. "Severely restrained inventory and the tightening grip it's putting on affordability i...
With Folgers and Dunkin Donuts packaged coffee in its brand portfolio, the J.M. Smucker Company is both the biggest coffee roaster in the U.S. and one of the companies that is best-positioned to reap the profits from America’s caffeine addiction.
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Epizyme was founded in 2007, and trying to create drugs to treat patient's cancer by focusing on genetically-linked differences between normal and cancer cells. Cancer areas of focus include leukemia, Non-Hodgkin's lymphoma and breast cancer. One of the Epizme cofounders, H. Robert Horvitz, won the Nobel Prize in Medicine in 2002 for "discoveries concerning genetic regulation of organ development and programmed cell death."
Before discussing the drug targets of Epizyme, understanding epigenetics is crucial to comprehend the company's goals.
Genetic components are the DNA sequences that are 'inherited.' Some of these genes are stronger than others in their expression (e.g., eye color). Yet, some genes turn on or off due to external factors (environmental), and it is und...
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Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts. After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.) Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.
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