JPMorgan's Operation Silver Slam
Sep 08, 2011
Bix Weir writes:
I must admit that I've been watching JP Morgan pull the same manipulation stunts over and over again for years. And it's not just in the silver markets. On November 18, 2005 when natural gas prices were skyrocketing to near $15 due to the ravaging of hurricanes Katrina and Rita the Federal Reserve announced that they had approved JP Morgan to trade in natural gas. That announcement can still be found on the Federal Reserve website here:
This is a very informative article about the gold and silver manipulations that the Fed is doing through JP Morgan and other big banks.
These manipulations really only hurt those who trade on the futures markets (if they aren't aware of these manipulations). Those who buy physical silver and gold are not effected, except to say that when the prices are slammed down, they are able to buy silver and gold at those low prices.
After the price slams, all we have to do is wait a few weeks or months before the prices are again high. Each price slam simply induces more people to buy up the physical stuff. Only the paper traders suffer.