The Phaserl


It’s War: World’s Purest Silver Producer Prepares To Join Class Action Lawsuit Against Bullion Banks For Price Rigging

by Mac Slavo, SHTFplan:

Though Wall Street regulators and the mega-banks they purport to regulate have long said that there exists no manipulation in markets and that anyone making claims to the contrary is nothing short of a conspiracy theorist, recent revelations suggest that even the most well known financial institutions on the planet have been actively involved in rigging asset prices. We need look no further for confirmation of this fact than Deutsche Bank, which last year admitted “the precious metals market has been rigged all along” and agreed to pay nearly $100 million in settlements resulting from their direct involvement in the manipulation of gold and silver prices.

Now that the cat is out of the bag and Deutsche Bank has agreed to turn over documents implicating other banks in related schemes, major mining companies are preparing lawsuits of their own. Straight-shooting First Majestic Silver CEO Keith Neumeyer, who in 2015 was the first mining company head to issue a public statement on the manipulation of precious metals prices by a small concentration of players, has said that the company’s legal team is closely monitoring the situation

Citing loss of revenue, jobs and shareholder value Neumeyer said in an interview with SGT Report that his company will likely be preparing legal action against the bullion banks involved in the rigging of prices.

I have an intimate knowledge of what goes on on the trading floors… how front running occurs, how wash trading occurs, how spoofing occurs… I’ve been looking for an opportunity to step in… I’ve been very vocal… I’ve talked to many executives that are running other silver companies… When the Deutsche news came out I sent an email to the law firm that’s responsible for this lawsuit and I had a conference call with two lawyers… we spoke about this case… I can tell you that a couple of the CEO’s of some very prominent silver companies in the States have no interest in pursuing this… Other CEOs have said that they are interested in pursuing this with First Majestic.

We’re monitoring this. We’re going to follow it. We’re likely going to, at some point, add our name to the class action lawsuit.

Watch the full interview detailing Neumeyer’s views on global cash bans, what silver prices may do once the manipulation comes to an end, how precious metals will be affected by the incoming Trump administration, current supply and demand fundamentals and an update on his latest projects including Silver One Resources:

(Watch At Youtube)

Neumeyer and what appears to be a handful of other CEO’s in the industry are preparing to declare war on the banks that have been responsible for the price suppression schemes many knew to exist but couldn’t prove until now.

The problem was that the fox was left to guard the hen house, which of course led to an inevitable bloodbath:

It’s quite shocking to me… It’s very harmful to the shareholders…

…It is manipulation and it’s used frequently. There’s ways that the regulators can monitor it. They can see it happening. The exchanges know when false bids and offers get put into the system… Yet, the exchanges don’t step in because the exchanges are owned by the banks… and the banks are doing that kind of trading… It’s the self policing system, which doesn’t work because no one wants to police themselves because they’re all making too much money. 

How does Bank of America or JP Morgan not have a losing day year-after-year of trading… it’s actually impossible… traders lose money… it happens all the time… yet they have not had a single losing day for at least a couple of years as far as I know.

As Neumeyer correctly highlights, it’s impossible for a trader or firm to have such a perfect record, unless of course they are working the system, which certainly appears to be the case based on the evidence.

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7 comments to It’s War: World’s Purest Silver Producer Prepares To Join Class Action Lawsuit Against Bullion Banks For Price Rigging

  • It is not a conspiracy theory, it is a business plan.

  • Steelerdude

    When they created the plunge protection team, price fixing was in…end of story!
    The govt was going to halt all extremes and make them level….that would include
    money printing, buying and selling of options, futures and so on.
    Not sure when the plunge protection started….Sr. Bush years? or before that?

    It really boggles the mind where the markets would be if it was left alone….

    Maybe, we would have a kick ass economy! LOL

    comments welcome!

    • Steelerdude

      having a 2nd thought, it would be great for Sean and SGTreport to have an interview on
      the subject “price fixing” and the plunge protection team….

      can we tap into any experts that are or were in the plunge protection team?

      it really would be great interview….worth recording!

  • Mac

    Name the Companies not suing for justice!!! These companies are either on the take or scared of the gov’t. Wimps, we had enough wimps in the gold and silver business.

    Out them and do not buy them.

    • AgShaman

      I agree. People should dump the miners on principle alone. Only a fool does not know about the flagrant and in your face manipulation.

      Most of the miners are captured by the bullion banks providing them loans for their cash flow.

      My guess is the Pilgrims have them and are doing what they want with them….until the time is right for the suckers to get fleeced and the companies to get absconded by the Barricks and Rio Tintos of this world.

  • Windrunner58

    Can’t wait for NOTHING to happen here!!!!

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