Manipulation - We discuss it all the time. How rampant is it? How many markets does it cross, or are there any markets not touched by it? A recent example can be found in JPMorgan may face record $1 billion fine for energy market manipulation. This recent hot water comes just after JPMorgan wins dismissal of silver price-fixing lawsuit, and we're all very well versed in JPM's activity in the gold market. Alas no one goes to jail, no one admits guilt, fines are paid that amount to a small percentage of the gains and everyone moves along. Never mind the consequences. Never mind the effect on the small investor. Never mind the overall effect on the economy. Just so no one gets in trouble and profits are up, it's all good.
JPM is stuck in the middle of everything "rigged" these days. In Fed Reviews Rule on Big Banks’ Commodity Trades After Complaints you see, "“When Wall Street banks control the supply of both commodities and financial products, there’s a potential for anti-competitive behavior and manipulation,”" I like Denninger's angle complementing my thought above, "The problem is that you, the consumer of these commodities, in this case energy, do not get a refund for the amount you were overcharged, nor do you get interest on the money stolen from you."
Forget all that, JPM is toast as the gold scam will be coming to an end much sooner than later as they are almost out of gold. The best primer I have seen on market manipulation from A-Z can be found in If We Don’t Break Up the Big Banks, They Will Manipulate More and More of the Economy … Making Us Poorer and Poorer. It's all in there; interest rates, commodities, oil, gold, you name it - the complete list.
I am giving you all of this irrefutable proof of market rigging to ease your worried minds. You see, as we've discussed for years, nothing happens unless they want it to. Plain and simple, cut and dry. Want to expand that to corporate corruption of government? Want to bring the IRS, DHS and the NSA into the equation? Absolutely nothing happens without their knowledge. You need to understand that when BSB admits they can't stop easing or the market will crash, then they are not going to stop easing (well, not this summer at least).
You permabears need to keep your panties on till the taper begins. Not till then will your party start. Now, we're in pre-party mode. Let's call it tailgating before the big game, our game. Their's is coming to an end. Their manipulation schemes have made the 1% richer than they could imagine, and they don't plan on stopping till they have taken everything. This is where they are making the biggest mistake.
They'e turned TBTF into TBTJ. They've killed, threatened and coerced their way to complete dominance. Sooner than later they will have nothing left to feed on but themselves. The most powerful beast will not stop until everything has been consumed. They are nearing the point where they will need larger food sources and when they turn on themselves (a la LEH) it all comes crumbling down. We're almost there.
Welcome to the 10th negative divergence. They can't let it fall. yet. Where Trayvon failed as a distraction, I'm sure Syria will suffice. They are not ready yet, but they are preparing. They are getting ready for the full court press. They must keep the market/illusion alive till they are ready to pull the proverbial trigger. I've been telling you for months now about the impending volatility that would surround this top that's setting. See it for yourself below and expect even more to come.
I'll post some minis charts later here and below. If you have not seen the OWP comment section, I suggest that you check out all of RC's posts. He worked his tail off
Have a good day.
GL and GB!