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Manoobulation
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Thread: Manoobulation

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  1. #1
    Join Date
    Dec 2009
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    Chicago
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    Default Manoobulation

    How many other stupid things would you like to listen to?

    SEC Charges Florida Broker in Astrology-Based Ponzi Scheme
    06/21/2012 12:00 PM EDT

    FOR IMMEDIATE RELEASE
    2012-118

    Washington, D.C., June 21, 2012The Securities and Exchange Commission today charged that a former broker in Orlando, Fla., defrauded investors in an astrology-based Ponzi scheme.
    The SEC alleges that Gurudeo “Buddy” Persaud lured family, friends, and others into investing in his firm, White Elephant Trading Company LLC, by falsely guaranteeing their money would be safe and yield lofty returns ranging from 6 to 18 percent. Persaud told investors he would invest in the debt, stock, futures, and real estate markets, but did not reveal that his trading strategy was based on his belief that markets are affected by gravitational forces.
    According to the SEC’s complaint filed in U.S. District Court for the Middle District of Florida, Persaud used investors’ money to make payments to other investors, the hallmark of a Ponzi scheme. Persaud also lost $400,000 of investor funds through his trading and diverted at least $415,000 to pay for his personal expenses, the SEC alleged. The same month Persaud began receiving investor money, he started using some of that money for his personal expenses. The SEC said that Persaud created phony account statements to hide his trading losses and give investors a false sense of security.
    “Persaud preyed on people who trusted him by promising high and steady returns while hiding his unconventional trading strategy,” said Eric I. Bustillo, Director of the SEC’s Miami Regional Office. “When Persaud blatantly lied to investors and hid their losses through a Ponzi scheme, he should have known that an SEC enforcement action was in the stars.”
    Persaud was a registered representative at a Florida-based broker-dealer but separately operated the now-inactive White Elephant, starting in mid-2007. In all, Persaud raised more than $1 million from at least 14 investors between July 2007 and January 2010.
    The SEC alleges that in making trading decisions, Persaud chiefly relied on an Internet service that provided directional market forecasts based on lunar cycles and gravitational pull. Persaud’s strategy was premised on the idea that gravitational forces affect mass human behavior, and in turn, the stock market. For example, Persaud believed that when the moon exerts greater gravitational pull on the Earth, people feel dejected and are more inclined to sell securities.
    The SEC’s complaint seeks disgorgement of ill-gotten gains, financial penalties, and injunctive relief against Persaud to enjoin him from future violations of the federal securities laws.
    The SEC’s investigation was conducted in the Miami Regional Office by Senior Counsel Rachel K. Paulose and Accountant Karaz S. Zaki under the supervision of Assistant Regional Director Elisha L. Frank, with assistance from examiners Anson Kwong and Brian H. Dyer, Examination Manager George Franceschini, Assistant Regional Director Nicholas A. Monaco, and Associate Regional Director John C. Mattimore. Amie Riggle Berlin will lead the SEC’s litigation.

  2. #2
    Join Date
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    Default

    I forgot to include the definition.

    Manoobulation: Selling subscriptions to fake bullish metals stories to traders who want to join the pat each other on the back society.

  3. #3
    Join Date
    Sep 2008
    Posts
    1,073

    Default

    Quote Originally Posted by Matthew Shelley View Post
    I forgot to include the definition.

    Manoobulation: Selling subscriptions to fake bullish metals stories to traders who want to join the pat each other on the back society.
    Matty. Most of our ( pat each other on the back ) society members have done real well with our Silver positions. Yes we love to pat ourselves and each other on the back. Seems a little gay, but thats what we like to do. What we enjoy the most is eliminating Matty from our trade process. No broker! Love it. I can over pay and lose value all on my own without a broker. Unfortunately I figured this out so long ago, I've actually quadroopled my value and then some. Our members did however overlook one problem. Storage. You see $16,000 worth of silver takes up a whole childrens size shoe box. This has created an issue.

  4. #4
    Join Date
    Dec 2008
    Location
    Zionot, Squashkenazi
    Posts
    11,555

    Default

    http://www.cmegroup.com/trading/meta...es-options.pdf
    Silver Futures and Options: Fact Card

    • Market participants are provided with a central point of price
    discovery, price transparency, risk management, mitigation of
    counterparty credit risk and CFTC oversight
    • Price may be managed separately from physical supply
    • Contracts are list for 60 months forward, enabling the
    establishment of a forward price curve


    A definition of management includes the concept of manipulation.

    Any on topic comments?
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

  5. #5
    Join Date
    Dec 2008
    Location
    Zionot, Squashkenazi
    Posts
    11,555

    Arrow fleeced

    excerpted from: CME Group Destabilizes Gold and Silver Markets

    "Traders are required to post collateral to back their positions in these future markets. This is known as a margin requirement. In any sane markets, this margin requirement would be a percentage. This way, no matter whether prices are falling or rising the margin requirement would be constant (in percentage terms) – stability is enhanced.

    Conversely, the U.S. paper-fraud markets are operated in precisely the opposite manner: margin requirements are a flat rate. What this means (automatically) is that when prices are falling the effective size of these margin requirements rises (amplifying downward pressure). And when prices rise the effective size of margin requirements fall (amplifying upward pressure on the market).

    In other words, irrespective of whether prices are rising or falling; margin requirements automatically act to destabilize the market further. This is how one would operate a crooked casino, not legitimate markets. Given this unstable paradigm; the CME Group has a direct, official responsibility to minimize the instability in these markets which is automatically produced by these insane margin rules (which it created).

    It does so in the following manner. When commodity prices rise, the CME Group is supposed toraise the margin requirements in order to keep the percentages constant. When commodity prices fall, the CME Group is supposed to lower margin requirements to keep the percentages constant. This is all unequivocal arithmetic, for which there can be no possible argument.

    Yet once again, currently, we see the CME Group raising margin requirements (sharply), despite the most-severe two-day crash in gold and silver markets in history. The only legitimate move for the CME Group to make here would be to dramatically lower margin requirements – to keep percentages relatively constant."


    Again, any comments?
    "I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone
    "The truth is called hate by those who hate the truth." - K

  6. #6
    Join Date
    Apr 2009
    Posts
    233

    Default Relevance

    Quote Originally Posted by silverheartbone View Post
    excerpted from: CME Group Destabilizes Gold and Silver Markets

    "Traders are required to post collateral to back their positions in these future markets. This is known as a margin requirement. In any sane markets, this margin requirement would be a percentage. This way, no matter whether prices are falling or rising the margin requirement would be constant (in percentage terms) – stability is enhanced.

    Conversely, the U.S. paper-fraud markets are operated in precisely the opposite manner: margin requirements are a flat rate. What this means (automatically) is that when prices are falling the effective size of these margin requirements rises (amplifying downward pressure). And when prices rise the effective size of margin requirements fall (amplifying upward pressure on the market).

    In other words, irrespective of whether prices are rising or falling; margin requirements automatically act to destabilize the market further. This is how one would operate a crooked casino, not legitimate markets. Given this unstable paradigm; the CME Group has a direct, official responsibility to minimize the instability in these markets which is automatically produced by these insane margin rules (which it created).

    It does so in the following manner. When commodity prices rise, the CME Group is supposed toraise the margin requirements in order to keep the percentages constant. When commodity prices fall, the CME Group is supposed to lower margin requirements to keep the percentages constant. This is all unequivocal arithmetic, for which there can be no possible argument.

    Yet once again, currently, we see the CME Group raising margin requirements (sharply), despite the most-severe two-day crash in gold and silver markets in history. The only legitimate move for the CME Group to make here would be to dramatically lower margin requirements – to keep percentages relatively constant."


    Again, any comments?
    This is pretty irrelevant. We have a really interesting market. Silver eagles are trading at a 40% premium when the metal price is well down. That defies normal market behavior. We should be asking ourselves why this is happening rather than bickering. Matt, this premium is not a Ponzi scheme. The physical metal market is under strain. People are not receiving delivery of allocated gold. Germany has to wait 7 years for a small portion of the gold it owns. This is not a normal market. This is not hype or BS, this is a very unusual situation. As a self appointed expert, you should be explaining some of this rather than making childish statements which are beneath you.

  7. #7
    Join Date
    Sep 2008
    Posts
    1,073

    Default

    Quote Originally Posted by Matthew Shelley View Post
    How many other stupid things would you like to listen to?

    SEC Charges Florida Broker in Astrology-Based Ponzi Scheme
    06/21/2012 12:00 PM EDT

    FOR IMMEDIATE RELEASE
    2012-118

    Washington, D.C., June 21, 2012The Securities and Exchange Commission today charged that a former broker in Orlando, Fla., defrauded investors in an astrology-based Ponzi scheme.
    The SEC alleges that Gurudeo “Buddy” Persaud lured family, friends, and others into investing in his firm, White Elephant Trading Company LLC, by falsely guaranteeing their money would be safe and yield lofty returns ranging from 6 to 18 percent. Persaud told investors he would invest in the debt, stock, futures, and real estate markets, but did not reveal that his trading strategy was based on his belief that markets are affected by gravitational forces.
    According to the SEC’s complaint filed in U.S. District Court for the Middle District of Florida, Persaud used investors’ money to make payments to other investors, the hallmark of a Ponzi scheme. Persaud also lost $400,000 of investor funds through his trading and diverted at least $415,000 to pay for his personal expenses, the SEC alleged. The same month Persaud began receiving investor money, he started using some of that money for his personal expenses. The SEC said that Persaud created phony account statements to hide his trading losses and give investors a false sense of security.
    “Persaud preyed on people who trusted him by promising high and steady returns while hiding his unconventional trading strategy,” said Eric I. Bustillo, Director of the SEC’s Miami Regional Office. “When Persaud blatantly lied to investors and hid their losses through a Ponzi scheme, he should have known that an SEC enforcement action was in the stars.”
    Persaud was a registered representative at a Florida-based broker-dealer but separately operated the now-inactive White Elephant, starting in mid-2007. In all, Persaud raised more than $1 million from at least 14 investors between July 2007 and January 2010.
    The SEC alleges that in making trading decisions, Persaud chiefly relied on an Internet service that provided directional market forecasts based on lunar cycles and gravitational pull. Persaud’s strategy was premised on the idea that gravitational forces affect mass human behavior, and in turn, the stock market. For example, Persaud believed that when the moon exerts greater gravitational pull on the Earth, people feel dejected and are more inclined to sell securities.
    The SEC’s complaint seeks disgorgement of ill-gotten gains, financial penalties, and injunctive relief against Persaud to enjoin him from future violations of the federal securities laws.
    The SEC’s investigation was conducted in the Miami Regional Office by Senior Counsel Rachel K. Paulose and Accountant Karaz S. Zaki under the supervision of Assistant Regional Director Elisha L. Frank, with assistance from examiners Anson Kwong and Brian H. Dyer, Examination Manager George Franceschini, Assistant Regional Director Nicholas A. Monaco, and Associate Regional Director John C. Mattimore. Amie Riggle Berlin will lead the SEC’s litigation.
    Hell, they could have paid Matty. They must not have known about SS.

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