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Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation?
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To: rrufff who wrote (4305)3/26/2009 2:14:36 PM
From: basserdan1 Recommendation  Read Replies (1) of 5034
 
So, lending out of shares for shorting is all part of maximizing short term returns. Who knows what the fees and kick backs look like in this situation

Hi rrufff,

What I find to be particularly distasteful is the practice where mutual funds sign exclusive contracts to lend their PM shares to one or more of the bullion banksters. The following agreement twixt Oppenheimer and JP Morgan Chase (the derivitive giant) from 2006 is a good example of that practice and was found doing a search of GATA Bill Murphy's LeMetropole Cafe's archives.

6-4-06

*And just two weeks ago it was disclosed that the Oppenheimer group of mutual funds had agreed to lend J.P. Morgan Chase as much as 25 percent of the shares of companies held in Oppenheimer’s gold mining mutual fund. This would seem to mean only one thing -- Morgan Chase’s intense interest in selling gold mining shares short at strategic moments. That is, the Gold Cartel is manipulating not just the price of gold but also the price of gold mining shares.

(page2)
oppenheimerfunds.com
specialmineralsfund.pdf?_requestid=11068

This is collusion, and it is in violation of U.S. anti-trust laws.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

6-8-06

Then, why did Oppenheimer issue a special prospectus on this only a month ago, which specifically authorized them to unethically lend shares to Morgan? Look at this …

Bill,
oppenheimerfunds.com

Its on page 2. Here is the relevant paragraph

Cheers
Adrian

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