Pimco rigged rates lower

[miller]

THIS CASE IS ABOUT CRIME, KNOWLEDGE, AND TRUST

Pimco is making absurd, idiotic claims about a “new normal” and a flight to quality into Treasuries. It is plain to see that every time there is a panic into Treasuries that panic produces instant, guaranteed losses.

If you’re going to panic out of the stock market, the obvious safe haven is a savings or checking account.

Anyone with any sense at all would never have their money in the hands of super stupid people like Pimco.

This case needs to destroy the entire Pimco brand from the start. Being long futures is crazy. The risk isn’t lower rates, its skyrocketing rates. So their plan is to rig prices higher to make money on their long Treasury position.

It is long overdue that the privileged Wall Street crooks need to be exposed. The government is allowing the crooks to rip off the entire nation and no one is blinking. The nation is in a catatonic state.

 

[miller]

February 20, 2011

Laurence Rosen, Esq.
Managing Partner
The Rosen Law Firm
275 Madison Avenue, Suite 3400
NYC, NY 10016

Re: Focus on a specific fact or question

Dear Larry:

When you can explain any specific fact or question that concerns you I will answer it directly and unequivocally.

Pursuant to the court preventing class action status, it is not only precedent that the 2005 Kohen v Pimco case is now law, the fact that Pimco paid $92 MM to settle that case confirms the Supreme Court’s decision.

It is critical for you to understand that none of your colleagues could grasp this fact. The PIMCO financial statement reveals its long treasuries futures position. They are unable to grasp that there is no difference for any bond fund to be long treasuries futures than to gamble on cards, dice, horses, or pork bellies. Being long discloses they in fact go long. Being long increases the risk of higher yields with no benefit unless they can manipulate yields lower illegally. Lawyers don’t understand the clear difference between hedging risk and speculating.

As of February 17, 2011, the Fed bought an additional $433 billion Treasuries that expanded their position to $2.6 trillion. Yields have raised 140 basis points to 4.7% in spite of the Fed’s purchases that have been known as the QE2 program.

PIMCO was able to rig the market for about 3 months but lost control. PIMCO management is both criminal and incompetent. I have the knowledge to destroy the credibility of the PIMCO management and if you help me they will learn that fact. We are going to get paid if you will represent the victims of this fraud.

This case is the same as a car crash. The damages are clear, only the costs of the damages aren’t precise for the moment. All the shorts got screwed and all the fund shareholders got screwed.

Regards,
Steve