The gold and silver futures markets nosedived today with the Fed announcement of a 25 basis point cut. Go figure?
But that is not the story I want to share today. The story I want to share is about our favorite market rigger JP Morgan.
For years the "conspiracy" tin foil hat crowd has been screaming that the COMEX gold and silver markets have been rigged.
Always dismissed as well . . . crazy conspiracy tin foil hat wearers.
This week if you were unawares the US Justice department indicted 12 traders from JP Morgan for . . . wait for it . . .
rigging the silver and gold market!
Conspiracy no more!
here is an article from zerohedge
Oh but wait it gets better!
Apparently, the DOJ is expanding the probe to not just the precious markets desk but across other marekts.
Interestingly enough when the CTFC investigated the metals market in 2013, it concluded there was no evidence of market manipulation.
I wonder does anyone else think that the fox was guarding the hen house?
I wonder where the CTFC investigators are today.
JP Morgan is having one hell of a year. Not too long ago a ship owned by one of their subsidiaries was seized in the port of Philadelphia in the largest drug bust in US history. An estimated 1.3 billion dollars worth of cocaine was seized.
CBS news reporting:
https://www.cbsnews.com/news/ship-seized-in-1-3-billion-cocaine-bust-is-owned-by-jp-morgan-chase/
I wonder how much longer before we see the perp walks?????
Grab some popcorn and enjoy the show!
Tick tock time is running out!
Peace out and stack on!