Civil And Criminal Probes Launched Against JP Morgan For Silver Market Manipulation

[Joanne98]

Yes, it is really happening. After years and years and years of market manipulation, JPMorgan is about to realize there is only so far you can push your luck against the criminal envelope. In other news, when silver doubles shortly, Andrew Maguire is about to become a patron saint to generations of long-suffering gold and silver "bugs" the world throughout.

From Michael Gray of the NY Post.

Federal agents have launched parallel criminal and civil probes of JPMorgan Chase and its trading activity in the precious metals market, The Post has learned.

The probes are centering on whether or not JPMorgan, a top derivatives holder in precious metals, acted improperly to depress the price of silver, sources said.

The Commodities Futures Trade Commission is looking into civil charges, and the Department of Justice's Antitrust Division is handling the criminal probe, according to sources, who did not wish to be identified due to the sensitive nature of the information.

The probes are far-ranging, with federal officials looking into JPMorgan's precious metals trades on the London Bullion Market Association's (LBMA) exchange, which is a physical delivery market, and the New York Mercantile Exchange (Nymex) for future paper derivative trades.

http://www.zerohedge.com/article/civil-and-criminal-probes-launched-against-jp-morgan-silver-market-manipulation

[dixiegrrrrl]

1. Running out of fingers to cross here.

Several news stories of late indicate the bad guys are being investigated by the FEDS..
ie: criminal investigations.
I hardly dare to hope.
My cynical side says smokescreen.

[girl gone mad]

2. Did you see this..

chart from http://jessescrossroadscafe.blogspot.com/">Jesse's Cafe last week?



and I liked his take on it:

"Maybe a trader typed in a million unit buy order for GOOGLE and accidentally typed in SILVER instead."

:rofl:

[westerebus]

3. Ironic don't you think?

One fat finger to cover JP's bets and another to unleash the robots? Makes me wonder if....