As the Department of Justice continues to investigate precious metals manipulation, it remains a true mystery as to where the case will ultimately lead.
It’s been almost a year since former JP Morgan trader John Edmonds plead guilty last November. And while there have been more confessions and charges since then, seemingly little has actually changed in the way gold and silver trade.
A few weeks ago at the last Fed meeting when a rate cut was not fully priced in, and the Fed did cut rates, the prices of both gold and silver got smashed. Since then there have also been flash crashes, spikes both up and down, and essentially exactly what the traders who just signed guilty confessions described repeatedly doing. While also stating it was widespread practice within their firms. And it continues to go on even as these traders are being arrested. Which makes me wonder how legitimate this investigation really is.
Are the investigators at the Department of Justice watching the silver price on a daily basis? Are they seeing any of the counterintuitive price moves? Are they aware of what so many in the silver community have pointed out, day after day, year after year?
Are they aware of just how much paper silver there is out there relative to the amount of physical? We really don’t know, and in the end, despite the investigation, so far nothing has changed.
Which James Anderson of the SD Bullion joined me to discuss on the show. As well as what type of silver he actually recommends to those who are looking to buy physical.
So click to watch the interview now!
October 25, 2019