JPM en proces pour gardiennage bidon de gold >

skipper Inscrit le : 05 Fév 2005 Messages : 8934

autrement dit il a prétendu sécuriser le physical de ses clients ..( les fameux storages .. dont on vous met en garde depuis belle lurette .. )

faire gardienner chez la mafia ... faut être con aussi ... ou désinformé ...

pire : les clients de JPM lui ont acheté à LUI du physique et demandé de le gardienner !!!!!!!!!!

lol mieux encore ... je rêve ...jpm a pris le pognon du client.... et a fait tout autre chose avec ... en tout cas c'est le sens de la plainte déposée !!!

mais voyez plutôt

Morgan Stanley Settles Metals Lawsuit

By REUTERS
Published: June 13, 2007
Morgan Stanley will pay $4.4 million to settle a class-action lawsuit with brokerage clients who bought precious metals and paid storage fees, according to a court filing.

The proposed settlement, which is subject to approval by the Federal District Court in Manhattan, includes $1.5 million in cash and other benefits valued at about $2.9 million, according to a court filing on Monday.

The suit, filed in August 2005, asserted that Morgan Stanley told clients it was selling them precious metals that they would own in full and that the company would store.

But Morgan Stanley either made no investment specifically on behalf of those clients, or made entirely different investments of lesser value and security, according to the complaint.

see:

http://www.nytimes.com/2007/06/13/business/13morgan.html?dlbk
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Pépite Bull

piano bar Inscrit le : 03 Avr 2006 Messages : 826

C'est quand même complètement dingue, ce sont VRAIMENT des voyous en col blanc ces enflures de banquiers...

Je sais, on le savait requin

mais bon quand on voit des trucs pareils c'est quand même plus que parlant et ça refraichit la mémoire (au cas où!)

GdB
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et aussi mon autre site
http://linflation.free.fr

chef cuistot Inscrit le : 07 Fév 2005 Messages : 1846

oui des pourris en col blancs...
cette histoire renvoie a mon histoire d orfevres voir post BABA
c aussi comme disait le grand pere spirituel de Narko ..le nain ..
"plus c gros plus ca passe .." Adolf H
la mondialisation n est n autre que le fashisme remaquillé ...
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Que le Gold vous protége !! Y a que la vérité qui compte Wink

skipper Inscrit le : 05 Fév 2005 Messages : 8934

puique vous avez apprécié .. Wink

je vous mets ceci .... Bush à la rescousse des accusés du désastre ENRON...
ds ce dossier , ne pas suivre les recommandations de la SEC qui avaient chargé lourdement les banques en question ... LOL !!

Bill,
Forget about gold rigging. How do you overturn an SEC recommendation against investment banks that supported small investors defrauded by Enron? Why if you're Treasury Secretary Hank Paulson you enlist President Bush personally to persuade the SEC to change their mind. With enough cronies in high places it's easy to get Solicitor General Paul Clement (himself a crony) to ignore the SEC's recommendation of high crime and fraud by the investment banks in cahoots with the likes of Enron. So much for even the illusion of justice. Goldman-Sachs miracle earnings seem far less miraculous when the Treasury Secretary always intervenes on your behalf, letting you keep ill-gotten gains. http://www.truthout.org/docs_2006/061407H.shtml

(see Appendix also)

Anybody capable of crime against investors, then getting cronies to rule in favor of the crooks is pure scum. If anybody doubts the capability of the cartel to suppress gold and silver this article should eliminate any doubt. It's obvious under the current regime the SEC and CFTC serves at the pleasure of the cabal.
James Mc
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Pépite Bull

skipper Inscrit le : 05 Fév 2005 Messages : 8934

JPM a transigé ..

Hi Bill,
I hope that you are having a great labor day weekend wherever you are.
Morgan Stanley has just settled a class action suit on brought by customers who had stored metals in a brokerage account. The plaintiff's case is that defendants chared "excessive" storage fees, and that the account holders did not receive allocated precious metals, that account holders did not receive full title to their precious metals, and that their precious metals were subject to creditors' claims.
There's a short article about it here:
http://www.investmentnews.com/apps/pbcs.dll/article?AID=/2007
0613/REG/70613010/-1/BreakingNews04
Some legal stuff here:
http://www.gardencitygroup.com/cases/pdf/SLB/SLBNotice.pdf
-Robert
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Pépite Bull

captain' Inscrit le : 05 Fév 2005 Messages : 5146

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SILVER is KING...Go GOLD...!!!

chef cuistot Inscrit le : 07 Fév 2005 Messages : 2624

un vrai dégoût...
et depuis 1986 ! ça a quand même mis 20 ans à sortir
bon sang , bien sur

skipper Inscrit le : 05 Fév 2005 Messages : 8934

Morgan Stanley charging storage on metal that didn’t exist.

Money for Nothing
By: Theodore Butler
http://news.silverseek.com/TedButler/1193161018.php
-- Posted 23 October, 2007

"Morgan Stanley’s actions were not in any way unique in this practice. In fact, in the court documents summarizing the proposed settlement, one of Morgan Stanley’s defenses was that they were not doing anything unusual by charging storage on metal that didn’t exist, as this is a widespread industry practice.

On a purely financial basis, the institution is given cash by the client and does not have to return it until the client sells his silver, which may not be for years or decades. For the entire time the client does not sell, the firm has full use of his money on a zero cost of funds basis. Those firms who charged, and still charge, storage and insurance fees for the non-existent silver rake in even more from the client. Honest dealings aside, this is a very cash-flow positive business for these institutions. Even if silver doubles or triples in price, there is no margin call to the selling institution, as clients don’t issue margin calls. As long as clients don’t sell on a net basis, the issuing institution still doesn’t experience negative cash flow. In our short-term world, that is all that matters. If you or I arranged to do what hundreds of world financial institutions have done, we would quickly be put in jail, as it is fraud, pure and simple.

....In addition to deceiving the client, they short-circuited the normal supply and demand function of the free market. This was an unfair restraint of trade and the free market. "
-END-
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Pépite Bull

skipper Inscrit le : 05 Fév 2005 Messages : 8934

les conséquences de tout ça, sont bien entendu une quantité indéterminée de silver "non existant" sur le marché ...cad une forme de short position ...en dehors du comex ..
ça explique bien des choses !!!!!!!!!

http://news.silverseek.com/TedButler/1193161018.php

du coup, Butler qui n'avait jamais en doute ( vu la qualité de la signature ) le physique détenu par le fond EF Silver Barclays se pose des questions ..
apres tout ... on voit bien quelle genre de confiance, on peut accorder à ce type d'établissement avec la crise des subprimes ..

http://news.silverseek.com/TedButler/1193732279.php

pour mémo et sur silver ETF, des analystes aussi réoutés que J Turk remettent depuis longtemps en question, la nature physique des réserves
voir cette file
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Pépite Bull

skipper Inscrit le : 05 Fév 2005 Messages : 8934

Ted Butler revient dans son dernier essai sur la nécessité impérative pour les silvériens de détenir la bonne forme de physique : du vrai .. et pas du papier !
car c'est précisément au moment où le silver s'envole que les risques de défaut se multiplient... et les contreparties, nous le savons bien ( ds la crise actuelle des subprimes ) ne font pas toujours face ..

pire encore, ce paper silver confié aux banques et autres institutions spécialisées sert également à vendre à découvert le silver ...

enfin et ici , ça nous concerne particuliérement .. il semblerait que les banques et organismes européens soient un acteur principal dans ce domaine ...

je vous invite donc à lire attentivement : 'the real deal "

http://news.silverseek.com/TedButler/1204056208.php
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Pépite Bull