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Ted Butler: 2022 was a momentous year for silver and gold
By Ted Butler
Monday, January 2, 2023
The last couple of years have been significant in silver (and gold), not particularly price-wise, but in other important ways.
For instance, 2020 was particularly noteworthy in that JPMorgan was partially brought to justice for its many years of manipulating the price of precious metals on the Comex and agreeing to settle with the Justice Department and Commodity Futures Trading Commission for a reported $920 million.
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Of course, the DoJ and CFTC merely scratched the surface of the real ongoing Comex silver and gold manipulation and wimped out from charging JPM (and the CME Group) by sticking to spoofing charges and not the overwhelmingly compelling evidence of a long-term price suppression and manipulation.
But my most important takeaway was that 2020 marked the exit by JPMorgan from the short side of Comex silver and gold futures and its double-crossing the other large commercial shorts after 10 years of non-stop manipulation. ...
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