Jamie DimonFederal US District Court Judge Robert P. Patterson Jr. has dismissed the class-action litigation suit brought against JP Morgan (and originally HSBC) regarding silver market-rigging.  Judge Patterson cited lack of specifics and claims of bad intent necessary to bring the suit to trial.

Perhaps Judge Patterson never bothered to actually read the litigation, because if he did, (assuming he was not paid off) he would have come to the same conclusions we did when the suit was filed in September of 2011:
The lawsuit completely exposes JPMorgan’s silver manipulation from insiders’ perspectives for ALL TO SEE.
We’re talking your wife streaking on the field during the opening kick-off of the Super Bowl type of exposure.

Que the CFTC announcement that their 4 year silver probe found no evidence of market manipulation in silver.

Full details of Judge Patterson’s dismissal of the suit, as well as the full original suit below:

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11-09-12 FINAL Consolidated Class Action Complaint


From GATA’s Chris Powell:

A federal judge has dismissed the class-action silver market-rigging lawsuit against J.P. Morgan Chase & Co. that was brought a year ago in September, ruling that the complaint lacked the specifics and claims of bad intent necessary to be allowed to proceed to trial.

The dismissal was ordered a week ago by Judge Robert P. Patterson Jr. in U.S. District Court for the Southern District of New York. The judge gave the plaintiffs 30 days to show cause why they should be allowed to file a substitute complaint.

Judge Patterson’s decision is posted in PDF format at GATA’s Internet site here:


The judge begins on Page 19 to enumerate the deficiencies he found in the complaint.

Interestingly, the judge also writes on Page 19, “JPMorgan declines to challenge that it possessed the ability to influence market prices.” Of course silver market rigging whistleblower Ted Butler long has maintained that Morgan’s disproportionate position in the silver futures market is by itself highly manipulative.

A representative of one of the law firms for the plaintiffs in the case, Labaton Sucharow in New York, wrote to clients this week: “We are exploring next steps with the hope that there is some way to revive the case.”

The lawsuit’s complaint from September 2011 is posted at GATA’s Internet site here:


CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

    • According to T. Butler, Bart Chilton and his -I believe- disengenuous cronies dont seem to get silver manipulation, so maybe this seemingly facile judge needed someone to explain it slowly to him too, what is obvious to any trader. Hilariously, CFTC Commisioner Jill Sommers had no fiancial background, but got a BA from Kansas university then was an intern for Bob Dole. Now she regulates derivatives if you can believe it. Yes cue Chilton and the ”CFTC finds no silver manipulation after its 4 year investigation” speech. 

      Of course this will not be surprizing, as CFTC Chairman Wendy Gramm long ago told her new CFTC Judge never to rule in favor of a manipulation-declaring plaintiff, as declared by retiring CFTC Judge Painter. Chilton Sommers OMalia, Gensler all seem to have gregariously endorsed this systemic corruption. They seem to be clownish punk criminals-banker flunkeys that I believe should be jailed, or get probation explaining derivatives to equally befuddled Kansas High School students. I wonder if they find their their -alleged- financial payoffs to be fullfilling?

  1. assuming he was not paid off”
    That would be a MASSIVE assumption, IMHO.  
    I wonder if this judge got a pair of gold knee-pads to go along with all the “retirement” money he recently came into?

    • 😀 😀 😀   lolZ
      Comes in handy in PRISON  (I hope)
      But Here’s the thing: No resort “Club Med” prison stays for these clowns and their bank$ter cronie$…
      Full Term in the   <office space> POUND ‘EM IN THE A$$ FEDERAL PRISON </office space>
      Just My 2 oz Worth!!!

  2. “When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it.” –Frederic Bastiat

    • He called it the way he saw it…and a government that goes beyond guarding the folks, and ensuring the folks can freely go about their business…is a government sham.

  3. We have No Judicial System in these (former) united states. If you’d like a Whopper, step over to the procedings being proffered, presented, registered, de facto, to wit, ergo, and published upon press, notification,summary without prejudice, harumph kaff kaff at American Kabuki.

  4. It’s rather funny, isn’t it? A near-quadrillion dollar LIBOR market can be rigged, a several hundred trillion dollar US bond market can be rigged, but a couple of billion dollar silver market? Oh no, that’s pristine! No rigging to see here, move along. What a bunch of cretins. Truly, the inmates are in charge of the asylum. I wonder what skeletons JPM found in Judge Patterson’s background. Also, its nice of them to announce it on a Saturday evening when everybody is paying attention…
    I look forward to the day when the news reports (the alternate news, of course) that the whole bunch of them have been tarred and feathered and thrown in the back of a south-bound train. This, along with the CRIMEX and the LBMA running out of physical silver (maybe this has happened already…anyone heard?  😉

    • @brainpowerinuse

      Gone are the days when Judges deserved to be addressed as ‘Honor’ because their pronouncements were forthright expositions of Lawful construction such as …
      “Inasmuch as every government is an artificial person, an abstraction, and a creature of the mind only, a government can interface only with other artificial persons. The imaginary, having neither actuality nor substance, is foreclosed from creating and attaining parity with the tangible. The legal manifestation of this is that no government, as well as any law, agency, aspect, court, etc. can concern itself with anything other than corporate, artificial persons and the contracts between them.” Penhallow v. Doane’s Administraters 3 U.S. 54; 1 L.Ed. 57; 3 Dall. 54 (1795).

    • Gone also are the days of,  “Leave it to Beaver.”
      The Courts ruling is good enough for me—& why should anyone have expected any other ruling?

    • Hey, brainpower…. what the hell is the reference to a SOUTH-bound train????  If anything, it should be WEST-bound.  Thats where all the PCers, fuck-the-haves, lets-uplift-the-minorities-with-government-goodies live and spend their days scheming on how to spend OUR money.  We here in the South will be content to defend (read: eliminate) those PC snivlers who come looking to control us.   Remember, you can’t be controlled unless you want to be.

    • This old ba$turd’s ruling may be correct. 
      “TECHNICALLY CORRECT” but correct none-the-less, 
      due to the so called Banking Reform Act of 2009. That one 
      legalized many different ways to grab our fiat. JPMorgue is a bank. 
      Connect the dots. 

  5. Remember for every “short” there is a “long”.   I still have not seen  a convincing argument for manipulation.   Maybe the Judge didn’t either.   The ups and downs of the market are banks, hedge funds, bullion dealers and traders making money.  Get over it.

  6. I’m not going to bellyache long.   We are winning.   They will lose.   It’s a simple fact: all investors need to do is pickup the 100-150M ozs of silver supply that isn’t used industrially.   At $30, this is a paltry $3 to $4.5B.   Think of how small $3-4.5B is.   That’s all it takes to buy up every oz not used industrially!   WORLDWIDE FOR A YEAR!    3000 to 4500 people buying 1M dollars worth of silver!     Or 1 to 1.5M people buying 100 ozs each.   Or a mixture of the two.    Do you see how EASY it for investors to buy up ALL the silver out there?  There will be so much demand for silver in the future it boggles the mind.    
    Silver is in such tight supply that many wealthy individuals could buy every single oz of silver available in the market .    Why none of them does is a mystery, unless they just don’t like confronting the reality that the money they have so much of is false.

    • “Silver is in such tight supply”…..  Where is the evidence for this?  I have no problem getting silver.  I know of no one else that is having a problem getting silver.  Until the day that a big industrial user states: “I can’t get any silver”  no one can make the claim that it is in tight supply!

    • Slvizgold:  That day is coming.  When the masses come to the realization, and they will, that the green paper with presidents on them are utterly worthless, then you will see the groundswell towards silver.  That’s when it will be really T.I.O.L.I. time (take it or leave it…the price, that is).

    • @Gandi
      Personally, I have seen tightening of supply. I have witnessed websites with MOST or ALL 
      non-numismatic Silver SOLD OUT, I have personally seen LCS SOLD OUT, and I have personally 
      BOUGHT OUT Local Coin Shops many times. I am just a humble (yeah right!) Electrician that 
      makes decent monie$ and stacks Silver and Lead. (You know, car batteries, etc)  😀
      IMO Supply is rather short. Local premiums are going UP. I see it with regularity. 

  7. Ya know what? I already factored this legal decision into my silver play and it’s very simple and logical……as they tamper, I buy! Did anyone REALLY expect the court to decide in favor of anyone other than the globalist banksters?
    No worries, silver will not be held down with the amount of buying going on around the world. Availability of coinage is dropping exponentially and manufacturing uses increase daily so I ask you, what other outcome could possibly be expected in the long term than the true value of silver exposing itself. Patience is the key. it also helps to lock the emotion in the closet….except for the humor emotion of course.

  8. Whoa, I’ve spent the last 2.5 hrs snow plowing and then I come in to relax and get hit with this. UglyDog is right, the judge is 89 yrs old and has nothing to lose but his soul. If he drops dead then it will be another year before the case is brought back up before another Federal Judge who’s probably just as old and has nothing to lose. By that time the jig will be up and Silver will be taking off but then again it may not. Lol In The Meantime Keep Stacking

  9. Yesterday on this site I read a heading: “Harvey stated that the CFTC’s silver probe has concluded, but they can’t release the findings because it would collapse the entire financial system! ”  So….now should I expect the financial system to collapse?  If Harvey is wrong on this one could he also be wrong on other conclusions as well?  I do expect it all to fall down but not until they gather up all the guns first.  Nothing wrong with critical thinking.   As much as I like reading this site they do sell silver!  (PS. All of my savings is in physical silver)

  10. Strong Satanic Luciferian forces at large when any Money is involved but as usual through history ,but the ‘computer age ‘ brings awareness ‘light’ and exposure , this is an attempt to cover,or hide from the LIGHT ,Sin ,Lies theft ect..
    Light is their WEAKNESS which is information like Max Keiser ,Alex Jones and all the info online Giants ,Radio Collectively rally a campaign ,maybe like the TEA PARTY ..  United we Stand …and WIN

  11. Criminals may survive in their nests for a very long time, but a strong wind storm always comes along and brings down the nests. Evil cannot exist over Good forever and the winds are getting much stronger. 2013 will most likely give rise in price to Gold and Silver although we can expect to see serious smack downs. Stack against the winds that are coming, the stacks will protect you. When the Bond market collapses and 150 Quadrillion Derivatives go with it and asside from the chaos, we must protect ourselves, the winds are coming without doubt.

  12. Gandi:  That, my friend, was a BEAUTIFUL comeback!  Really, choice! It reminds me of a story a friend told me recently. Seems his son, a 2nd grader, was looking out the window, not paying attention to the teacher. She tells the boy to pay attention. Later, she looks and he’s continuing to daydream, so she tells him to use “beautiful” in a sentence since they were in English class. The boy thought for a moment, and said, “The trees outside are beautiful”. The teacher again reinforced her previous comment that he pay attention. A short time later the boy was again daydreaming. The teacher, miffed, figured she land a KO on him. So she said to the boy, use “beautiful” twice in a sentence. The boy was squirming, then a wry smile came on his face as he spoke. “This morning at breakfast my sister told mom and dad she was pregnant”. At this the teacher bristled. Why are you telling us this? The boy then said, my father said: “Beautiful, fucking beautiful”. The bell rang!

  13. Wow .I posted $38.6 , brutally Satanic take down,..but they the ‘Lucferians  need to make Money and fast because of the USD weakness, Silver has historically been 16-1 , now 40-50 ? anyway because of the industrial need demand ,electronics,solar,computer ,military ect usages ,  Can not be satisfied , the Demand is REAL the Luciferians could generate Massive wealth by narrowing the ratio between Gold and Silver..Look for a Hugh ,Bump Soon..imo

  14. Aren’t the experts (like Sinclair, Willie and Organ) always saying that this whole thing won’t be resolved from within but from without (the East etc.)?
    So, does this ruling not confirm what they keep saying? No big deal, seeing as it confirms their analyses, and they seem giddy about the impending events.
    As for “calibre” silvrrrrr, I wouldn’t mention such things on forums even as a joke: If “they” can keep track of forums which operate in other languages like hawks, it’s even easier with America-based English language forums.
    Only calibre I’m interested in is the calibre of music I listen to (no rock here… classic or Christian 🙂 )

    • @SilverDagger
      Sounds like you are shopping at greatamericancoinco  and that guy is a CROOK. 
      He advertises like this: 
      1 oz. Silver Coins $31.80 and neglects to say (until fine print time) that it is avoirdupois ounces, 
      and never says 90% so the uneducated buyer who is not fully literate thinks he’s getting a full 
      TROY OUNCE for a slight premium. However, he’s getting trimmed TWICE because it is avoirdupois
      and it is 90% instead of .999 Silver. That Ba$turd does that ALL OVER EBAY and I reported it, and 
      FeeBay did NOTHING! I read that it is illegal to advertise PMs in avoirdupois ounces. Go Figure  🙁
      Folks are paying a 5% PREMIUM for a 20% deficit of Silver!!! 
      IT IS CRIMINAL, just like the BANK$TER$

    • Hell I was on ebay all day looking for deals, there are none. So I went to Silvertowne and bought (20) 1 oz bars with free shipping and these bars are selling on ebay for over $700.00 over $50 what I paid for them.

    • I like Franklins a whole lot. Should have kept a few aside for ‘fondling’, but they all went into a particularly remote hole, so photos like these will have to suffice till I go dig them back up. As things are going, that may not be a terribly long wait.

  15. I can’t believe the amount of outrage for something you all already know. A snake is a snake, no matter how you dress it up or look after it.
    An old woman was walking down the road when she saw a gang of thugs beating a poisonous snake. She rescued the snake and carried it back to her home, where she nursed it back to health. They became friends and lived together for many months. One day they were going into town and the old woman picked him up and the snake bit her. Repeatedly. “O God,” she screamed, “I am dying! Why? I was your friend. I saved your life! I trusted you! Why did you bite me?”The snake looked up at her and said, “Lady, you knew I was a snake when you first picked me up.”
    Just keep doing what you know is right. Be it Sell or Save, but I know one thing, Usury is evil. A Ponzi Scheme is evil. Value is what something is worth to YOU, not what someone tells you it is.

    • Me too! 
      I would have had well over $300 worth by now, but cashed in $260 worth. 
      Replaced them with SILVER, however  😀
      I’m back up near $50 worth. Adding ~$10 each week! 

    • Very good little article and very wise advise too. Though I HUGHLY over-paid for a large lot of Canadian 100% nickel pieces, I don’t regret it because I’m HIGHLY confident that the banknotes I used will (soon enough) depreciate beyond that ‘cost’ of acquisition anyway. Pennies (yes, even lowly zinc) and nickels are every bit as under-valued in natural rationalization as silver and when people re-discover ‘fair trade’ again, their purchase power will be every bit as surprisingly pleasant.

  16. Here’s a weird thought. 
    What if the manipulation of silver is just not important enough.
     UBS LIBOR scandal? $250 billion in profits on $50 trillion in loan rate rigging. Government gets $1.5 billion in fines. 
    HSBC drug and money laundering scandal? $900 billion in laundered funds.  20% or $180billion in fees.  $1.7 billion in fines. 
    A few days of silver short slams.   100 MOZ of silver  worth $3 billion.  Chump change.  How much would the government get in  fines.  It’s not worth the trouble.
    Go after the big fish. Government wins big with a billion or two in fines.  Mega bank gets their wrist slapped with a fine of 1% or less. Nothing left to see.  Move along
    Silver.  It’s small fry. 

    • Weird enough to WORK! 
      Makes sense, but also, they have to keep PM’s down or everyone will want some. 
      And it is a good way for them to shake the trees to loosen up the weak hands, and 
      then their buddies scoop up all the cheap phyzzz… if the PM’s shoot UP, their game 
      is OVER. They use the free fiat they issue, and launder over to their boys and girls 
      at the TBTF Bank$, to steal the underpriced PM’s that they pump and dump when the 
      PM Velocity gets too slow. Your Explanation makes a Great Excuse for them to NOT 
      prosecute. But it’s likely “legal” anyway, Banking Reform Act of 2009, remember?
      Nice call, AGX

    • “Silver.  It’s small fry.”
      Not so.  Silver is the Achilles Heel of the Central Bankers, and keeping Silver devalued and away from a monetary role in their system is their number one goal.  If Silver were to become official and popular money again and supplant debt-based fiat money, more so than even Gold, the Central Bankers would lose their powers altogether.  Here are some important points to consider:
      1) Silver, more so than Gold, has been the most widespread form of hard currency money known to man.
      2) In order to achieve their goal of total debt-based fiat money, the Central Bankers first had to demonetize Silver.  Gold became the only official money, and it’s never been formally demonetized.  Central Banks still hoard Gold, and yet they are able to keep the debt-based fiat money system going at the same time.
      3) Central Bankers do not hoard Silver, and want Silver to be ‘Not Money’.  Since they only hoard Gold, they want Gold to be the only money.  But everyone recognizes it is hard to use physical gold as daily money.
      4) If Silver were money again, it could easily circulate in small-enough denominations to serve as daily currency.  Therefore, of all the possible forms of hard tangible currency money out there, Silver is still the most sound precious metal to serve the role (notwithstanding it’s role as a high-tech industrial metal).
      5) In view of the above, Silver, more so than Gold, is the most direct threat to debt-based fiat paper money (as represented by the present form of the US Dollar).  And that is why the Central Bankers do everything within their power to keep Silver demonetized and considered a mere industrial commodity.
      6) Silver’s ascent in price would drag Gold prices even higher, creating further threat to the debt-based fiat money system (which works solely on the basis of ‘confidence’).  Hence, a further reason to keep Silver prices in check.  In addition, Silver’s small market size makes it much more easy to manipulate relative to Gold, yet it’s useful for keeping Gold prices in check.
      7) Governments have abolutely no need to generate revenue through fines of mega-institutions, when they can essentially borrow unlimited quantities of money at almost no cost.  Governments and Central Bankers are one and the same, if one hasn’t noticed as of late.  As the same time, mega-institutions paying ‘huge’, ‘record-breaking’ fines denominated in fiat paper money is totally meaningless, because this paper money is created by them for free, out of thin air.  For example, fine the US Fed 1 trillion US Dollars, and by law they would be able to just print that money of out nothing (even if ordinarily this is not the process for the creation of paper money–it’s lent into existence).
      The above are but a handful of reasons that Silver is by no means a ‘Small Fry’.  In view of the above, it is easy to understand why the suits against HSBC and JPMorgan have been dismissed, since to prosecute and to expose would be to do self-harm for the Government.  Keeping Silver away from a role of money (as represented by its price value relative to Gold) is a matter of survival for them.  In other words, the day that Silver is priced at a 16:1 ratio relative to Gold, by definition Silver would have reverted to its role and value as money again, and they do not want that to happen (at all costs).  On that day, it’s safe to say that debt-based fiat paper money would be near its last breath.

  17. Agreed Plebian. My choice of words was to indictate the dollar volume of silver in relation to LIBOR and money laundering was small, not worth looking into realative to multi trillion dollar escapades. It’s intersting that HSBC is was heavily involved in money laundering and silver supression,but finded only for the former offence.  Governments have turned a blind eye to this bank for decades.
    Silver is  important for all the reasons you noted and then some.  If its true value was recognized, the FIAT foundations would be shaken to their core.  It must be supressed and the reality of the actions we here  can see must be kept from the general public’s eyes. If the true worth  of silver was known; if the web of lies surrounding its manipulation was allowed to get out, there would be serious consequences and a great price to pay. 
    So the ruse of not finding any criminal conspiracies or manipulation of silver works well. The fines levied against the mega banks is theater and little more, used to distract those without the ability to think critically. A few scalps to hang on the wall; a bit of good press to show the law dogs are on the hunt.  Nothing more than that. I appreciate you pointing out the importance of silver and its uniqueness and expanding on that theme and giving more to think about.

  18. Good observations Plebian.    You are very correct.   Silver is the Achilles Heel.    The PM suppression starts and ends with silver.    The way they held gold under $500 for 2 decades was by keeping silver pinned down at $4-5/oz.    Think of how few people were smart enough to start buying physical silver in size until the market collapsed in 2008.   The PM rise from 2008-present was just the first wave of institutional money and intelligent investors.   We are nowhere near mania, nor have we been yet.    It has multiiple years to go IMO, unless the parabolic spike begins in the next year, which I don’t think is in the cards this soon.    I think the paperbugs will remain smug for while longer, then as silver and gold start creeping back up to new highs, the ridicule will begin and they will be telling us how the bull market is over for a few more years.   When the Establishment is gaga-googoo on gold and silver then we will be in the mania phase finally.    Patience grasshoppers.   If silver keeps farting around at $25-35 for a lot longer, just keep accumulating if your stack hasn’t met your goal.    I will never trade my silver just for dollars.   I will sell my silver when I can use my silver to buy a LOT more real goods or services compared to now.    Or I might swap some silver for gold if it went to 10:1 or 15:1 which I believe is inevitable.

  19. Ok here it is! the Luciferians don’t think like us,we just ‘re-act ‘ to their Satantic plans , The Silver ratio could be narrowed a create NEW wealth buying and selling at higher prices , Silver is undervalued we all know,So do the Luciferians  IMO

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