DOJ Anti-Trust Divsion looking into JPMorgan in silver manipulation

No, I am not crazy. I've been touting this underground conspiracy "theory" to a largely empty audience for a couple years. The CFTC, chartered to regulate commodities markets, has largely been asleep at the wheel regarding monitoring price suppression in the precious metals exchanges. Well, it looks like the Department of Justice Anti-Trust Division is investigating not only price manipulation, but CONCERTED price manipulation by several parties, including bullion banks. If there's fire where there's smoke, civil as well as criminal charges will be levied.

Unfortunately, a possible outcome is a slap on the wrist (see the SEC's case against Goldman Sachs for fraud), as the sources of these market manipulations go all the way to the top of our government financial agencies (see Plunge Protection Team blog). It's tragic how the injured parties (in this case, retail longs) receive no compensation, but the government agencies who enabled these illegal activities to occur for decades under their watch are the collectors of the fine payments.

In other words, I am not expecting massive EFFECTIVE financial markets reform, but this is stunning news to those who have been following these surreptitious price suppression schemes. Let's hope this isn't window dressing, but a real investigation to end these "crimes in progress", as Ted Butler calls it.

After clicking on the links, click on the microphone icon to hear the audio interviews.

http://kingworldnews.com/kingworldnews/Broadcast/Entries/2010/5/1_Jim_Rickards.html

http://kingworldnews.com/kingworldnews/Broadcast/Entries/2010/5/1_Ted_Butler_on_the_Metals_Market.html