In Ted Butler's Archive


My main focus recently has been the Justice Department’s ongoing investigation and how it may impact JPMorgan’s behavior. Make no mistake, any change in JPM’s activities will have a profound effect on silver and gold. If JPMorgan abandons its previous controlling death grip on silver and gold there will be a new day ahead.  And if anything could force JPMorgan to radically alter its past market manipulation, I can’t conceive of a more powerful force than the U.S. Department of Justice. The fact that nobody comments on this major development surprises me because it is the ultimate game changer.

In the week after the Justice Department’s Nov. 6 announcement that JPMorgan’s trader was guilty of spoofing I believe the big bank was caught completely off guard. It rushed to buy back as many COMEX silver and gold shorts as possible by rigging one last manipulative price jam to the downside to clear its decks and to avoid heavy exposure on the short side. That’s why silver and gold prices have rallied since Nov. 13. If JPMorgan has altered its wicked ways, recent price action may be reflective of that. This was particularly noticeable on Friday, the 25th of January when we had a sudden across-the-board metals rally.

There is good reason to believe the time for liftoff may be at hand. I have always looked for that special signal suggesting that the time had arrived. I believe the Justice Department’s announcement is the special signal. Silver and gold have been manipulated and depressed in price over the last eleven years by JPMorgan. The involvement by the Justice Department is likely to change the situation radically. Since silver has been manipulated to the downside and is dirt cheap, it stands to reason that the end of the manipulation will send prices higher. Because silver has been manipulated and beaten down in price for so many years we have the most lopsided setup in investment history.

The silver price rise should be one for the record books; literally, the stuff of investment legends. What the Justice Department may do sets up the most extremely favorable risk/reward investment equation in history. The price of silver should climb to the heavens when JPMorgan stops manipulating the price. In that event, the price of silver will explode.

For subscription info please go to

Start typing and press Enter to search