Monday, May 17, 2010

Attempted murder on whistleblower

http://www.wnd.com/index.php?fa=PAGE.view&pageId=153953

A London-based commodities trader claims a major New York bank is conducting serious manipulation of the silver and gold futures markets.

The practice has continued even after federal regulators have been warned of the impropriety, Andrew Maguire, a metals trader at the London Bullion Market Association, told WND.

Last November, Maguire brought allegations before the U.S. Commodity Futures Trading Commission, or CFTC, in Washington that gold and silver traders at JPMorgan Chase have conspired to manipulate global precious metals markets. He charged the manipulation amounts to hundreds of millions of dollars, if not billions, in institutional trading profit for the bank and personal profit for the traders.

Maguire charged that JPMorgan Chase gold and silver traders have coordinated massive purchases of "short contracts" betting that the price of gold or silver will go down. The purchases, he said, are part of a strategy aimed at forcing the price of gold and silver to drop dramatically at the expense of holders of "long positions" owning gold or silver.

"This is a very small community that engages in metals trading – only a handful of traders at major institutions like JPMorgan Chase," Maguire said.

If Maguire has shared the information with the CFTC, why did he decide to go public explaining his accusations to WND and to Murphy at GATA for publication?

"I want the CFTC to catch these guys in the act," Maguire answered, "and I called the CFTC to alert them to market manipulations as they were happening. But now I'm concerned that the CFTC is just sitting on the information and doing nothing to investigate my allegations or bring charges."

Attempted murder?

Maguire and his wife were involved in a bizarre car accident in London, the New York Post reported March 29.

Maguire told WND he reluctantly has come to believe the car accident was an attempt on his life.

"We got hit in the side at full acceleration and tried to corral the cars in a gas station, including the guy who hit us with a commercial vehicle," Maguire explained.

The assailant then got in his car and accelerated, hitting a number of cars as he escaped from the gas station, making the event into a hit-and-run situation.

"The police told us the assailant was known to them and even that they arrested him," Maguire said. "But recently the police won't say anything, and I haven't been able to learn anything about the assailant."

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