Wednesday, August 28, 2019

Ted Butler: JP Morgan Busted ONCE Again

Another strong week for monetary precious metal values. The silver spot price is trading late this week around 17.50 oz in fiat US Federal Reserve notes. 

The gold spot price is trading $1,530 fiat US dollars per troy ounce near the end of this week’s trading. 

The Gold-Silver Ratio has ticked 1 troy ounce lower this week. It now takes 87 derivative ounces of silver to acquire 1 derivative ounce of gold. About 9-months ago, we last spoke with this week’s Metals & Markets Wrap guest, regarding the first, long time JP Morgan precious metals derivative trader, admitted guilt to financial fraud and market crimes committed. 

This week, we welcome back long-time silver analyst, Ted Butler to the show. To discuss yet another guilty plea this week by another over decade long executive director from JP Morgan’s precious metals trading division for the financial market crime of spoofing. We hear Ted’s take on the US Justice Departments various indictments of precious metal market criminals over the past year’s time. 

As well, we also discuss a likely massive silver trade which has formed in the last 3 months, in three of the most major silver ETF derivatives. To the tune of a silver bullion hoard the size of both the former Hunt Brothers and Berkshire Hathaway’s Warren Buffett. 

We discuss who is possibly making a multibillion-dollar move into the physical silver investment market and what this kind of movement may portend for some of the precious metal derivative trading entities on the short side of silver moving ahead.

- Source, Silver Doctors