Bill Murphy: How far will rigging probe go?
Bill Murphy: How far will rigging probe go? by Chris Powell for GATA
Dear Friend of GATA and Gold:
Interviewed last night by Phil Kennedy of Kennedy Financial, GATA Chairman Bill Murphy marveled at the publicity suddenly being given to gold and silver market rigging, on account of the latest indictments of traders for JPMorganChase. But Murphy added that the “spoofing” attributed to the JPM traders is the smaller part of the manipulation of the markets, the bigger part being surreptitious intervention by governments and central banks.
Kennedy and Murphy discussed how far the Justice Department’s investigation will go — to JPM’s former commodity desk chief, Blythe Masters? To the bank’s chief executive, Jamie Dimon? To the Federal Reserve, Treasury Department, and Bank for International Settlements? There is plenty of evidence that all of them were involved with metals market manipulation.
Kennedy and Murphy also discussed the possibility of more fraud lawsuits against JPMorganChase.
The interview is 26 minutes long and can be viewed here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.