Ignoring years of silver price manipulation, Orwellian CFTC now goes after Reddit Apes
Ronan Manly, Bullion Star, 04 March 2021
On Monday 1 March, an article in Bloomberg Law by CFTC connected lawyers from law firm Clifford Chance revealed that the Commodity Futures Trading Commission (CFTC) is reportedly investigating retail silver trader activity in the silver price and that the US Department of Justice looks set to investigate as well.
Before looking at this shocker of an Orwellian development, it’s helpful to provide some context on the CFTC’s track behavior in this area and to show how hypocritical such a development would be. Continue reading “Article: Ignoring years of silver price manipulation, Orwellian CFTC now goes after Reddit Apes”
Senator Ossoff Drops a Bombshell: “The 12 or 13 Largest Banks” Got the Trillions from the Fed’s Repo Loans Last Year
Pam Martens and Russ Martens, 03 March 2021
The new, 34-year old Democratic Senator from Georgia, Jon Ossoff, let a very big cat out of the bag at yesterday’s Senate Banking hearing. For at least a year, from September 17, 2019 through at least September 30, 2020, the New York Fed, acting as an agent for the Federal Reserve, doled out a cumulative $9 trillion or more in repo loans. The Fed would say only that the money was going to some of its 24 Primary Dealers on Wall Street, without naming any specific bank receiving the money. In June of 2020, the New York Fed abruptly stopped reporting the dollar amounts it was pumping out each day. (See Watchdog Report: Fed’s Billions in Emergency Repo Loans to Wall Street Didn’t Go Away in June; They Just Went Dark.)
The emergency repo loans by the Fed began months before there was any case of COVID-19 reported anywhere in the world.
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Bernard Leon Schwartz Schwartz was born in Brooklyn, New York and grew up in the Bensonhurst neighborhood of Brooklyn. Schwartz graduated from Townsend Harris High School in NYC. He holds a B.S. in finance and an honorary doctorate of science from City University of New York. He is a World War II veteran, having served in the US Army Air Corps.
After school, he worked as an accountant eventually becoming a partner at a Wall Street firm. Continue reading “CEO: Bernard L. Schwartz”
Ferdinand Pecora (January 6, 1882 – December 7, 1971) was an American lawyer and New York State Supreme Court judge who became famous in the 1930s as Chief Counsel to the United States Senate Committee on Banking and Currency during its investigation of Wall Street banking and stock brokerage practices
Ferdinand Pecora was born in Nicosia, Sicily, the son of Louis Pecora and Rosa Messina, who emigrated to the United States in 1886. He grew up in Chelsea, Manhattan. After briefly studying for the Episcopal ministry, Pecora attended St. Stephen’s College (now Bard College) and the City University of New York before he was forced to leave school when his father was injured in an industrial accident. Continue reading “Lawyer: Ferdinand Pecora”
John J. Mack (born November 17, 1944) is a Senior Advisor to the investment firm Kohlberg Kravis Roberts and the former CEO & Chairman of the Board at Morgan Stanley, the New York-based investment bank and brokerage firm..
Mack worked at several firms around Wall Street before starting his career at Morgan Stanley in 1972 as a salesman, and has since worked for the company for nearly thirty years. Rising steadily to positions of increasing responsibility, Mack eventually headed the firm’s Worldwide Taxable Fixed Income Division from 1985 to 1992. Continue reading “Banker: John J. Mack”
Reddit user behind GameStop saga releases opening statement ahead of hearing
Axios, 17 February 2021
Keith Patrick Gill, known on YouTube and Twitter as Roaring Kitty, released his opening statement ahead of testimony before the House Financial Services Committee on Wednesday about his role in the surge of GameStop’s stock price.
The big picture: Gill will join the CEOs of Reddit, Robinhood, Citadel and Melvin Capital at Wednesday’s hearing. The committee plans to “examine the recent activity around GameStop (GME) stock and other impacted stocks with a focus on short selling, online trading platforms, gamification and their systemic impact on our capital markets and retail investors,” per a statement by Rep. Maxine Waters (D-Calif.), chair of the committee.
Continue reading “Article: Reddit user behind GameStop saga releases opening statement ahead of hearing”
A World that Operates by Financial Cheating and Unsound Money Is Doomed
MishTalk, The Street, 13 February 2021
It’s all phony money but there’s no revolt yet.
Look at the tag cloud. We have just begun. Wall Street is undergoing a controlled demolition and City of London is next.
https://pedoempire.org is the kill shot. They don’t care about fines and do not fear jail but they do fear being outed for Satanic pedophilia. The printed books have been in the top 500 books sold out of six million published in their first week of publication. The content is free online and being read by millions, particularly across the Commonwealth countries whose publics seek liberty from Lucifer.
Continue reading “Robert David Steele: Open Letter to Financial Publishers”
Reddit day traders wanted to beat Wall Street to prove the system is rigged. Instead, they did it by losing.
Tyler Sonnemaker , 04 February 2021
Keith Gill, the day-trading member of the Reddit group Wall Street Bets who is widely credited with igniting the recent GameStop trading frenzy, claimed in late January that he had turned his $54,000 investment into a $48 million fortune.
Days later, it had been sliced by more than half to $22 million, and regulators had set their sights on Gill, investigating him over potential disclosure violations.
Continue reading “Article: Reddit day traders wanted to beat Wall Street to prove the system is rigged. Instead, they did it by losing.”
Re-Published with Permission. Visit Ben at https://grrrgraphics.com/.
How Wall Street billionaire Steve Cohen survived an insider trading scandal
CBC Radio, 07 April 2017
Scandal on Wall Street didn’t end with 2008’s financial crisis. New Yorker staff writer Sheelah Kolhatkar chronicles the rise and fall of the prominent hedge fund SAC Capital in a new book, Black Edge: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street.
Kolhatkar explains how insider trading allegations dogged the company and its ultra-rich founder, Steven Cohen. Cohen “was an iconic figure in the financial industry,” she tells The Current’s Friday host Piya Chattopadhyay. Continue reading “Article: How Wall Street billionaire Steve Cohen survived an insider trading scandal”
How billionaire hedge fund titan Steve Cohen walked away from the biggest insider trading scandal in history
Graham Flanagan and Rachael Levy , 15 February 2017
In her new book “Black Edge: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street,” author Sheelah Kolhatkar chronicles the incredible story of the biggest insider trading scandal in history. Continue reading “Article: How billionaire hedge fund titan Steve Cohen walked away from the biggest insider trading scandal in history”
SEC settles with hedge fund billionaire Steven Cohen
Renae Merle, 09 January 2016
Billionaire Steven A. Cohen has been in the crosshairs of federal prosecutors for nearly a decade. His hedge fund, SAC Capital, was once one of the most powerful on Wall Street, managing more than $15 billion for investors and producing stellar returns for years.
But prosecutors suspected that SAC’s success was too good to be true.
U.S. Attorney Preet Bharara in Manhattan once called Cohen’s hedge fund as a “veritable magnet for market cheaters.” When, in 2013, SAC agreed to pay $1.2 billion to settle charges that it tolerated rampant insider trading it was one of the highest-profile successes in the government’s aggressive push against insider trading. Continue reading “Article: SEC settles with hedge fund billionaire Steven Cohen”
SAC Capital indicted in 6-year US insider trading probe
Patricia Hurtado, 25 July 2013
SAC was indicted on 4 counts of securities fraud, 1 count of wire fraud in an indictment unsealed in Manhattan federal court. Manhattan: SAC Capital Advisors LP, the $14 billion hedge fund founded by Steven A. Cohen, was indicted by a US grand jury as part of the government’s six-year crackdown on insider trading on Wall Street. Continue reading “Article: SAC Capital indicted in 6-year US insider trading probe”
Life of an 18-Year-Old Day Trader: He’s Got Fake Millions, Fake ID
Nick Paumgarten , Observer, 09 August 1999
For a good chunk of July, an 18-year-old kid from Long Island named Harris Kupperman was beating the 9,100 other contestants_in_something_called “TheStreet.com Investment Challenge.” In just four weeks, he had turned $500,000 into $7.6 million, a 1,400 percent return. At that rate, he’d have $76 quintillion in a year. “I guess that’s O.K.,” he said. Actually, it’s unheard of. And to think-this kid couldn’t get a summer job on Wall Street this year. He was too young.
Continue reading “Article: Life of an 18-Year-Old Day Trader: He’s Got Fake Millions, Fake ID”