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Ted Butler: Government's settlement with JPMorgan is more than a slap on the wrist
8:50p ET Thursday, October 1, 2020
Dear Friend of GATA and Gold:
Silver market analyst Ted Butler today explains why he thinks the settlement by the Justice Department and Commodity Futures Trading Commission with JPMorganChase about the bank's manipulation of gold and silver futures prices is more than the trivial "slap on the wrist" widely suspected.
Butler notes that the bank now is operating under a "deferred prosecution agreement" with the Justice Department and isn't likely to mess with the gold and silver futures markets for a while
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He thinks the bank's termination of its "spoofing" will increase the price impact of "high-frequency trading." He also thinks the resolution of the case will increase suspicions of market rigging in gold and silver and cause traders to be more watchful.
And the settlement, Butler argues, increases the likelihood that gold and silver prices will rise.
Butler's analysis is headlined "The DOJ-CFTC-JPMorgan Settlement" and it's posted at GoldSeek's companion site, SilverSeek, here:
https://silverseek.com/article/dojcftcjpmorgan-settlement
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Actiom Committee Inc.
CPowell@GATA.org
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