Saturday, May 8, 2010
BREAKING: Feds Probe JP Morgan’s Silver Trades
Keeping the silver price down is one thing, but getting away with it is another. Will justice prevail?
J. P. Morgan has a strategically huge short position in silver (app. 75% of total world mine production), and is using it to 'manage' the price of the market at will.
Years of nagging and perseverance by GATA and especially Theodore Butler, David Morgan and Jason Hommel seems to be paying off.
Thank you also to the whistle blower Andrew Maguire
Why silver? Read here a "thought" experiment by Jesse.
Manipulation of gold and silver prices has been US government policy for 20 years now. Keeping the gold and silver price down supports the "strong dollar policy". Gold and silver price manipulation will dwarf the crimes committed by Bernie Madoff, it is a crime, a fraud.
The US$ is toast and the manipulators are going to burn in hell. J.P. Morgan first, no..no..last.
UPDATE: The article in the New York Post, Business Section of May 09, 2010.
By Michael Gray, New York Post Reporter, in his blog
Federal regulators have launched both a criminal and civil investigation against JPMorgan Chase for its trading activity in precious metals market.
The Commodities Futures Trade Commission is looking into civil charges and the Department of Justice’s Antitrust Division are handling the criminal probe, according to sources who did not wish to be identified due to the sensitive nature of the information.
See More information in New York Post Sunday Business section: http://www.nypost.com/news/business
Posted by Troy Ounce at 8:59:00 PM