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Ted Butler: A 10-year-deal to let JPM rig silver?
10:47a ET Thursday, December 21, 2017
Dear Friend of GATA and Gold:
Silver market analyst Ted Butler today speculates that the U.S. government has a 10-year agreement with JPMorganChase, stemming from the failure of the Bear Stearns investment bank, waiving commodity and anti-trust law enforcement so that Morgan can keep the price of silver under control and profit greatly from doing so.
This brings Butler quite a bit closer to the possibility that Morgan is simply the executor of U.S. government trades, which easily would explain why there is never any enforcement against even the most brazen rigging of the monetary metals markets. After all, the Gold Reserve Act fully authorizes the U.S. government, through the Treasury Department's Exchange Stabilization Fund, to rig any market in the world --
https://www.treasury.gov/resource-center/international/ESF/Pages/esf-ind...
-- and filings by CME Group, operator of the major futures exchanges in the United States, show that governments and central banks receive volume trading discounts for secretly trading all futures contracts on CME Group exchanges:
http://www.gata.org/node/14385
http://www.gata.org/node/14411
Butler's commentary is headlined "A 10-Year Deal?" and it's posted at GoldSeek's companion site, SilverSeek, here --
http://silverseek.com/commentary/ten-year-deal-17017
-- and at 24hGold here:
http://www.24hgold.com/english/news-gold-silver-a-ten-year-deal-.aspx?ar...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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