JP Morgan silver price rigging accusations go way back to when the world's largest G-SIB took over bankrupting Bear Stern's alleged losing naked short silver position in March 2008. All along the way, blogosphere silver analysts like Ted Butler have been publically making allegations against JP Morgan's silver market trading actions.
Having now almost become fully synonymous with a consortium of alleged financial market riggings. Allegations that JP Morgan has been rigging precious metals markets are now not just some supposed tin-foil ZeroHedge hat wearers domain, some 12 years on.
Rather JP Morgan silver rigging is now the freaking US Department of Justice's allegation purvue. The US DoJ states that JP Morgan broke various financial laws in the precious metals markets for almost a full decade, acting as a Racketeer Influenced and Corrupt Organization.
Could it be Jaime Dimon & Co. wants to show the US Government who is not only too big to fail but also unprosecutable given that JP Morgan is the Bank for International Settlements' Financial Stability Boards' largest Globally Systematically Important Bank?
Brazen might be the fact that if the US prosecutes JP Morgan directors criminally, the mega-bank may merely throw the global economy into a tailspin in retaliation.
Why have we allowed JP Morgan to have this much power over our global economy?