Gold & Silver Trading Biggest Scam in History Financial Armageddon Could Result
For those with a good memory this is the promised follow up to my piece on the manipulation of the silver market and its very scary ramifications. Before we get into the possible end of civilization as we know it details, a recap is in order. Andrew Maguire of London blew the whistle on JP Morgan Chase’s very likely profound manipulation of the silver market to the CFTC. As financial government watchdog agencies are wont to do these days, they did their best to sweep it all under the carpet. How the SEC handled Bernie Madoff’s ponzi scheme is a prime example of this. This matter is not a ponzi scheme but it is a the largest scam ever going into the trillions of dollars territory. But back to Maguire who was quite determined to clean up the business of commodities trading. He goes public with powerful compelling evidence of JP Morgan Chase’s manipulation of the silver market. This happens on a Kingsworld radio show. The next day someone tries to kill him by ramming a car into Maguire’s car. Maguire and his wife who was also in the car are hurt pretty bad but survive. After this in their infinite wisdom the commodities watchdog the CFTC decides to have a meeting with most of the key players in commodities trading but exclude Maguire from attending. At this meeting a secret is revealed that could easily tear apart the fabric of our barely functional financial system. The secret is that for every 100 ounces of gold and for every 100 ounces of silver traded on paper there is only one actual ounce of gold and one actual once of silver to back up these trades. Given that yearly there is trillions of gold and silver traded on paper this is the literally biggest scam in the history of scams. Now the guy who let this cat out of the bag didn’t think it was a big deal using the logic that as long as the buyer was paid the value of his purchase at the time he wants to sell it doesn’t matter if his purchase was backed up by an actual commodity. This cavalier attitude does seem to reflect the mind set of people working in our financial system that everything is smoke and mirrors except the money being exchanged.