Ted Butler: The perfect double cross

Section:

12:08p ET Monday, July 2, 2018

Dear Friend of GATA and Gold:

Reviewing gold and silver futures market trader positioning data, silver market analyst Ted Butler writes today that he suspects that JPMorganChase has just double-crossed other big commercial traders as the bank has substantially reduced its short position in the monetary metals. Morgan, Butler writes, is now set to make a big score on an explosion in prices.

How nice that would be for other monetary metals investors, but those other investors might do better to acknowledge, as Butler declines to do, the possibility that Morgan is acting in the monetary metals markets not for its own account but for one or more governments and central banks.

... Dispatch continues below ...



ADVERTISEMENT

We Are Amid the Biggest Financial Bubble in History;
When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth

With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.

Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.

Crucial guides to storage in Singapore and Switzerland can be read here:

http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore

http://info.goldcore.com/essential-guide-to-storing-gold-in-switzerland

GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.

Email the GoldCore team at info@goldcore.com or call our trading desk:

UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.

Visit us at: http://www.goldcore.com



Not that the bank is renowned for its integrity -- some close observers call it a criminal organization -- but for six years Morgan has been on record as maintaining that it has no proprietary position in the monetary metals and trades those markets only for clients:

https://www.youtube.com/watch?v=gc9Me4qFZYo

Do those clients include governments and central banks?

It is a matter of record that CME Group, operator of the major U.S. futures exchanges, extends discounts to governments and central banks for their secret trading in all major futures markets --

http://www.gata.org/node/17976

-- but no mainstream financial news organization dares to ask Morgan or CME Group if Morgan's positions in the monetary metals are the bank's own or are actually official-sector positions undertaken for market manipulation.

Butler's speculation is headlined "The Perfect Double Cross" and it's posted at GoldSeek here:

http://news.goldseek.com/GoldSeek/1530543600.php

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org

* * *

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Thursday-Sunday, November 1-4, 2018
https://neworleansconference.com/

* * *

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16