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Pan American Silver Corp. Message Board

  • buy_sell_sell_buy buy_sell_sell_buy Feb 20, 2013 11:52 AM Flag

    Silver Trader Taken to the Dump

    looks like merrill, is squeezing out one of the commodity traders. breaking them @ their margin account. gold is a joke, nobody needs it. silver on the other hand is needed in many material markets.

    great buying oppt. today, don't miss out.

    Sentiment: Buy

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    • i think thats me!

    • The CFTC Silver Fraud case filed on Dec 6, 2012, is moving forward.

      " The CFTC has filed a civil injunctive enforcement action in US District Court against 12 commodities firms for allegedly selling phantom precious metals to clients. The CFTC complaint states that: The defendants claim to sell physical metals, including gold, silver, platinum, palladium, and copper, to retail customers in retail commodity transactions. Under the defendants’ retail commodity transactions investment contract, customers allegedly make a down payment on certain quantities of physical metals, usually 25 percent of the total purchase price. Defendants allegedly claim to arrange loans for the balance of the purchase price, and advise customers that their physical metals will be stored in a secure depository.

      The complaint further alleges that these statements were false, and that the defendants do not purchase any physical metals, arrange loans for their customers to purchase physical metals, or arrange for storage of physical metals for any customers participating in their retail commodity transactions. Instead, all the transactions are just paper transactions "

18.30+0.77(+4.39%)Sep 28 4:00 PMEDT