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Entries in Goldman Sachs (2)

Tuesday
Apr192016

New York RICO Lawsuit Reveals Metals Market Manipulation!

VetTheGov enjoys reading Big Bank lawsuits and this is one for a worthy share for any readers out there believing Big Banks and Wall Street are fair and honest.  The entire complaint provided below for your reading pleasure of how a market is manipulated!  Case # 1:15-cv-07317 is still ongoing after second amended complaint filed on 04/04/2016.  The lawsuit was filed by a New York attorney Susan J. Levy and she filed the complaint as a pre se litigant.  

Here are the highlights of the civil action regarding manipulation by Defendants Goldman Sachs, HSBC, ICBC Standard Bank, UBS, BASF Corp., and many others to be determined!

Defendants Scheme consisted of Four parts:

A. Manipulative Step One: The Auctioneer defendants who are horizontal competitors in the market for physical platinum and palladium and NYMEX platinum and palladium conspired with their New York trade desks in order to gain an advantage with respect to their NYMEX futures contracts that were being traded at the NYMEX exchange in New York.

B. Manipulative Step Two: To ensure that their NYMEX contracts could be traded at a profit, each defendant agreed to fix the price of physical platinum and palladium, since the physical prices are an essential price-component of the NYMEX contract prices. Thereby, if defendants could artificially set the physical prices of platinum and palladium, the NYMEX contracts would follow suit since the prices of all NYMEX contracts are inextricably linked to the spot prices of each contracts underlying commodity in this case platinum an palladium. 

C. Manipulative Step Three: The auctioneer defendants in unison with the non-auctioneer dealers would agree twice a day to halt trading for 10 to 30 minutes in the morning and 10 to 30 minutes in the afternoon in order to engage in an "auction" process to reset these prices of physical platinum and palladium. Private conference calls were set up where confidential information was exchanged by the auctioneer defendants who could determine prices and take positions prior to the public even knowing what those prices were.

D. Manipulative Step Four: As a result, defendants were able to position their NYMEX futures contract trades in conformity with the pricing information that to which they were privy ahead of the public on the conference call. The auctioneer defendants were required to enter into real market transactions to set the prices of these metals that were predetermined at the "auction" whether these defendants even needed or wanted to purchase or sell platinum or palladium at all. 

Mix in any other type of market manipulation and see how the game is played at the top to steal your hard earned fiat money!  Stay tuned as VetTheGov will keep you updated on the final outcome but normally these Bank cases get settled out of court and no one goes to jail.

Thursday
Mar292012

PERA holdings top $13 Billion! Where is the other $28 Billion???

VetTheGov checked the recent PERA filings via Securities & Exchange commission website to see their recent quarterly update report on January 24. 2012. The report shows stock holdings with 2443 publicly held companies with current value of $13.1 Billion. Yet Colorado PERA shows over $41 Billion in assets on their 2010 Annual Financial report. Yes read the fine print and the grand total includes 401K's, 457's, Deferred Comp plans, Health Care Trust funds, and a life insurance reserve. Are they allowed to show public employee funded private accounts as assets??? No breakdown of exactly how much is appropriated to any of these funds but you as the taxpayer are on the hook for any promises they make or claim. The scary part of this is that the health care trust funds both show a funded ratio of ONLY around 17% on page 3 of the annual report which means there can't be much in these funds! The entire PERA fund is only 66% funded to total liabilities with the biggest claim of a whopping 14% return on investments! Are they getting inside trader information???

It appears PERA uses smoke-screens in their funding numbers by adding in additional trust funds used to offset healthcare cost to its members. It allows for members that may or may not qualify for Medicare to receive an additional subsidy between 115.00 to 230.00 monthly depending on status and years of service. There is currently a bill being introduced in this years legislation that is seeking to strike certain language from it. See HB12-1250 here. PERA opposes this bill probably because it impacts over 37,000 that currently receive the subsidy! Click here to see all the PERA legislation this year alone!!! Why so much legislation for a fund we always hear is doing so well???

On page 7 in the annual report you notice their top 10 stock picks for 2010 but in their latest filing VetTheGov has their current top 10.

  1. Bank of America-10.3 Million shares Political givings
  2. GE-8.2 Million shares Political givings
  3. Pfizer-6.9 Million shares Political givings
  4. AT & T-5.6 Million shares Political givings
  5. Wells Fargo-5.1 million shares Political givings
  6. Oracle-4.7 Million shares Political givings
  7. Cisco-4.3 Million shares Political givings
  8. Exxon-4.2 Million shares Political givings
  9. JP Morgan Chase-4.0 Million shares Political givings
  10. Comcast-3.4 Million shares Political givings

Honorable Mention over 2 Million shares: Merck, Newscorp, Citigroup, Altria Group, Chevron, US Bancorp, Morgan Stanley

Notice a theme with the banks? Remember these are your private industry tax dollars funded directly into large corporations and you must take notice of the bailout related companies in the top 10! If you recall the great Ponzi schemes they all have the same indications of promises made by PERA. Promises of 8% returns annually and a check always showing up monthly on time so you never worry! If the government runs out they simply add more to the system by increasing the debt limit, find clever ways to increase taxes and fees, and poof your PERA check still arrives! In the meantime your retirement accounts are funding Oil & Gas companies, Big Banks, Pharma Companies, and Big News media outlets that continue the smoke & mirrors game to keep you guessing, confused, divided and owned! 

If the bailout monies were never delivered the whole scheme would have imploded. Big question is how many workers in the public and private sector does this scheme employ??? Is this why government feels the necessity to create a new green marketplace??? Is this why Big Government and politicians campaign about job creation all the time??? What about your tax dollars funding Big Unions and Big Media outlets??? What about your tax dollars funding Politicians you don't even like??? If you go to VetTheGov's earlier story on who these Big Corporations give to politically, you must ask what are they protecting??? They are protecting the biggest SCAM ever invented and where no one ever goes to prison and the PEOPLE stay enslaved without a clue unless of course you join the SCAM or figure a way to the top of the pyramid like a job in DC or high up in the ranks of a financial institution like Goldman Sachs or a Big Corporation like GE that don't pay any taxes just really enjoy taking them!

Look below and see if you can follow the scheme! At least following your tax dollars all the way to the President and the President's men appointed to the Federal Reserve might clear up a few things. If you look all the way through PERA's holdings you will find most of the companies listed below. 

When you follow the money trail or attempt to decipher it is no wonder our government, corporations, and media outlets try to keep the masses divided in order to keep the Scheme from imploding! Stay tuned for more updates in the near future!