Cocky & Arrogant Traders Allegedly Brag That They Manipulate The Market

03/31/2010 • Business News, hereisthecity.com

The New York Post reports that a trader who recently accused JPMorgan of attempting to manipulate the gold and silver markets, had his car rammed in London last weekend. The police used helicopters to catch the fleeing driver, who absconded on foot. Andrew Maguire is a metal trader at the London Bullion Market Association. He and his wife were hospitalised following the accident, as a car came out of a side street and smashed into their vehicle. They have made a full recovery.

2 Comments in Response to Cocky & Arrogant Traders Allegedly Brag That They Manipulate The Market

Comment by Mike Renzulli

Entered on: 3/31/2010 8:44:59 AM

Furthermore, manipulating markets is impossible. In order to do so there have to be very few people doing so without anyone finding out (which is impossible) and the market exchanges involved in transactions would not be going down. They would constantly be going up.

The poster of this article obviously has a chip on her shoulder about people (other than her) being able to make money.

Comment by Mike Renzulli

Entered on: 3/31/2010 8:40:47 AM

Ah yes. There is a conspiracy somewhere to many people who paruse this site. This may also include the person who posted this article.

The only market manipulation that can occur is through government fiat and via central planning (i.e. central banking contribution(s) to the many booms and bust the countries have experienced).

My guess is this guy was about to lose his job and rather than admit he was a bad employee decided to rat on his employer in order obtain some sort of job security or fend/hold off termination.

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