dimelab dimelab: shrinking the gap between talk and action.

commodities markets Topic in The Credit Debacle Catalog

90's commodity market (1); commodity markets history (1); commodity markets removed (1); Regulate Commodity Market Ponzi Schemes (2).

zero hedge Sun 2010-04-25 14:23 EDT

Exclusive: Second Whistleblower Emerges - A Deep Insider's Walkthru To Silver Market Manipulation

A second whistleblower speaks. As the topic of physical delivery has gained prominent attention recently, it is crucial to complete the circle and show how this weakest link in the PM market is (ab)used by the big boys: Phibro and Warren Buffet. Pay particular attention to the analogues between the methods employed in the 90's commodity market and how the PM (and equity) market is being gamed currently. And to think that each new generation of traders believes it has discovered something new...As a market maker in silver options from 1989 to 2000 I was present during both the 1994 and 1997 silver events. They were seminal in my education of gamesmanship in trading and how probabilities can come up short...

Deep Insider's Walkthru; exclusive; Silver Market Manipulation; whistleblower emerging; Zero Hedge.

zero hedge Wed 2010-04-07 18:26 EDT

The Latest Gold Fraud Bombshell: Canada's Only Bullion Bank Gold Vault Is Practically Empty

Continuing on the trail of exposing what is rapidly becoming one of the largest frauds in commodity markets history is the most recent interview by Eric King with GATA's Adrian Douglas, Harvey Orgen (who recently testified before the CFTC hearing) and his son, Lenny, in which the two discuss their visit to the only bullion bank vault in Canada, that of ScotiaMocatta, located at 40 King Street West in Toronto, and find the vault is practically empty..."The game ends when the people who own all these paper obligations say enough and take physical delivery, and that's when the mess will occur."...It is funny that central bankers thought they could take the ponzi mentality of infinite dilution of all assets coupled with infinite debt issuance, as they have done to fiat money, and apply it to gold, in essence piling leverage upon leverage. They underestimated gold holders' willingness to be diluted into perpetuity - when the realization that gold owned is just 1% of what is physically deliverable, you will see the biggest bank run in history.

Bullion Bank Gold Vault; Canada's; Latest Gold Fraud Bombshell; practically empty; Zero Hedge.

zero hedge Mon 2010-04-05 15:14 EDT

Former Goldman Commodities Research Analyst Confirms LMBA OTC Gold Market Is "Paper Gold" Ponzi

When we put up a link to last week's CFTC hearing webcast little did we know that it would end up being the veritable (physical) gold mine (no pun intended) of information about what really transpires in the commodities market. First, we obtained direct evidence from Andrew Maguire (who may or may not have been the target of an attempt at "bodily harm" as reported yesterday) of extensive manipulation in the silver market. Today, Adrian Douglas, director of GATA, adds to the mountain of evidence that the commodities market, and the CFTC, stand behind what is potentially the biggest market manipulation scheme in the history of capital markets (we are assuming for the time being that all allegations of the Fed manipulating the broader equity and credit markets are completely baseless). Using the testimony of a clueless Jeffrey Christian, formerly a staffer at the Commodities Research Group in the Goldman Sachs Investment Research Department and now head and founder of the CPM Group, Douglas confirms that the "LBMA trades over 100 times the amount of gold it actually has to back the trades."

Goldman Commodities Research Analyst Confirms LMBA OTC Gold Market; paper gold; Ponzi; Zero Hedge.

Jesse's Café Américain Fri 2009-10-23 19:27 EDT

Matt Taibbi: Wall Street's Naked Swindle

This is worth reading. Wall Street's Naked Swindle by Matt Taibbi. Closing quote from this story: "The new president for whom we all had such high hopes went and hired Michael Froman, a Citigroup executive who accepted a $2.2 million bonus after he joined the White House, to serve on his economic transition team -- at the same time the government was giving Citigroup a massive bailout. Then, after promising to curb the influence of lobbyists, Obama hired a former Goldman Sachs lobbyist, Mark Patterson, as chief of staff at the Treasury. He hired another Goldmanite, Gary Gensler, to police the commodities markets. He handed control of the Treasury and Federal Reserve over to Geithner and Bernanke, a pair of stooges who spent their whole careers being bellhops for...

Jesse's Café Américain; Matt Taibbi; Wall Street's Naked Swindle.

Fri 2009-01-16 00:00 EST

Jesse's Café Américain: The CFTC Is Failing to Regulate Commodity Market Ponzi Schemes

Jesse's Café Américain: The CFTC Is Failing to Regulate Commodity Market Ponzi Schemes

CFTC; fail; Jesse's Café Américain; Regulate Commodity Market Ponzi Schemes.

Tue 2008-08-19 00:00 EDT

Mish's Global Economic Trend Analysis: Steve Saville On The US Dollar And Gold

"US$ is very under-valued relative to the euro on a purchasing-power-parity basis"; "recent intermediate-term trend reversals in the commodity markets removed the pressure that had previously been preventing the US dollar from moving back towards fair valuation."

Dollar; gold; Mish's Global Economic Trend Analysis; Steve Saville.

Thu 2008-06-12 00:00 EDT

naked capitalism: How Big Traders Can Extract Excessive Profits

index roll congestion "date rape" by Goldman Sachs in the commodities market via GSCI (Goldman Sachs Commodities Index); 2007-02-07

big traders; Extract Excessive Profits; naked capitalism.