On KWN, Ted Butler reveals Justice Dept. probe of Morgan silver rigging

Submitted by cpowell on Sat, 2010-05-01 14:16. Section: Daily Dispatches

10:15a ET Saturday, May 1, 2010

Dear Friend of GATA and Gold (and Silver):
In his weekly interview with Eric King of King World News, silver market analyst Ted Butler announces that the Anti-Trust Division of the U.S. Justice Department has told a Butler newsletter subscriber that it is investigating a complaint of silver market manipulation against JPMorgan Chase & Co.

In a subsequent King World News interview, market analyst James G. Rickards, senior managing director for market intelligence at the Virginia-based research consultancy Omnis Inc., notes that the Justice Department's reply to the Butler newsletter subscriber went out of its way to mention Morgan Chase, even as the Butler newsletter subscriber, in writing to the Anti-Trust Division, had not mentioned the investment bank. Thus, Rickards says, the Anti-Trust's Division's reply is "a stunning communication."

Rickards speculates that the Anti-Trust Division's reference to Morgan Chase may have been prompted by press reports linking Morgan Chase to silver market manipulation. Of course such press reports have arisen from the complaint brought by GATA to the March 25 hearing held by the U.S. Commodity Futures Trading Commission about trading practices in the precious metals futures markets. At that hearing GATA presented the story of London trader Andrew Maguire's attempt to walk the CFTC through an ongoing market manipulation by traders for Morgan Chase, and the CFTC's seeming lack of interest.

The King World News interview with Butler is 10 minutes long and you can find it here:

http://www.kingworldnews.com/kingworldnews/Broadcast_Gold+/Entries/2010/...
The King World News interview with Rickards is 12 minutes long and you can find it here:
http://www.kingworldnews.com/kingwor...es/2010/5/1_Ji...


Please remember that King World News isn't just audio anymore -- that it has started posting some pretty compelling text commentary as well, including commentary by Rickards, Richard Russell, Nouriel Roubini, and Marc Faber. You can find the King World News text commentary section here:
http://kingworldnews.com/kingworldne..._DailyWeb.html
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.