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| Is there anything to the JP Morgan silver conspiracy theory ? |
What is the JP Morgan silver conspiracy ?
I am going mostly with what Jon Lockton of Hals Report, and Gerry White and Rowena Mason of the Telegraph were reporting about this silver manipulation issue back in 2010.
Since 2008 allegations of silver market manipulation ( control by monopoly ) had risen the suspicion of the CFTC who were now investigating the matter.
JP Morgan Chase was at the center of the investigation and HSBC Holdings was their counterpart in a game of probable colluding to profit from volatile silver markets.
The suspicion of investors like Peter Laskaris, Eric Nalven, Andrew Maguire of Goldman Sachs, and others was enough to send lawyers filing class action law suits against the giant financiers.
Silver prices are being forced to a level that is below the true value of the metal commodity states Lockton who claims that JP Morgan was able to do this because they had acquired such a large position in silver.
White and Mason meanwhile state that this collusion fiasco in silver started back in June of 2008 when JP Morgan acquired Bear Stearns who held an extremely large volume of short silver futures.
The CFTC released an article in late May 2011, one of many, on the topic of The Big Silver Con.
The Big Silver Con article speaks of the 26 XAGUSD target lines that are at play at the end of the QE2 or quantitative easing efforts and how silver traders a legging into or " piggybacking " the silver manipulation giants.
It isn't that simple and I might have missed the mark on my understanding of The JP Morgan silver conspiracy issue but then again maybe not.
Someone else was asking whether or not the little guy could somehow play in the big fools game and I put in my two cents worth on that issue at
http://silvernewsrally.blogspot.ca/2012/06/stick-it-hard-to-jp-morgan-chase.html
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