Breaking News: DOJ Readies for JPM Silver Manipulation Investigation
FMX | Connect – www.fmxconnect.com - (Reported 5/01/2010)
Eric King broke news this morning that the DOJ's Antitrust department is considering launching an investigation into silver market manipulation by JP Morgan, according to a letter obtained by Ted Butler.
As Eric King discloses in its letter the Anti-Trust division announces that "it will carefully consider the issue of silver market manipulation by JP Morgan and other traders. Generally the CFTC investigates these types of market manipulations. However, the suggestion that JPMorgan Chase may be signaling other traders, warrants further analysis. The DOJ will carefully consider the issue you raise, and you can be assured that if we conclude that silver traders have engaged in anti-competitive conduct, we will take appropriate enforcement action."
Now we haven’t seen the letter just yet but we expect it to hit the newswire shortly. We will be following this story very closely.
Story as reported by Zero Hedge
Original interview from Eric King: Ted Butler on the Metals Market (you can listen to the interview)
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