GATA's Bill Murphy says, "They’ve been caught. JP Morgan is finished!"
AltInvestors has released an EXPLOSIVE interview with GATA’s Bill Murphy. Murphy has previously stated several of his best sources have advised him gold and silver will make massive bull moves in August, and will soon set new all-time highs.
Murphy went a step further today stating that ‘JP Morgan and their silver short positions is going to be a scandal rivaling the LIBOR manipulation scandal- it’s so focused, LIBOR involves so many companies, this is JP MORGAN!
They’re in BIG TROUBLE, and when silver takes out $30 it’s probably going to go to $40 or $50 and it could do it fairly quickly‘.
Murphy went on to say ‘the Gold Cartel and JP Morgan are starting to lose control of their manipulation of these low prices. Morgan’s position is going to be exposed, they don’t have the metal to keep the prices down here!‘
Muphy continued: ‘This thing is gonna blow up. Whether it’s a Madoff or an Enron, you never know when the thing’s gonna blow. I stated previously that in August the launch would start. The launch has started.
There is going to be a JP Morgan silver scandal to rival LIBOR. They’ve been caught. There are whistle-blowers that are going to do a Madoff on them. This thing is going to explode, it’s going to be sensational, and MEGA!‘
Full interview here:
Maybe you and Jon Nadler should get together.
Jon: You know, scrap is going to bury the gold price.
Johnny: Right, Jon, gold is no safe haven and never has been. It will be lucky to finish the year at $1650
Jon: Hopes of QE are so overblown.
Johnny: Ha! Even more QE can't save the goldbugs now! We're probably in a new multi decade bear market.
Jon: You are so right Johnny.
Wolf, we can only wish...but no, it will not go down as Murphy says...it never does, and JPM will not face any music for their manipulations because it is sanctioned by the Gold Masters, and they will be protected.
I dunno, Tom. But here's some evidence that tends to back up this great assertion:
"In the weekly monetary metals market review at King World News, futures market analyst Dan Norcini reports major short covering in gold and silver last week as they broke out of their trading ranges. Norcini adds that speculators are rushing back into those markets. Also commenting is Bill Haynes of CMI Gold and Silver." An excerpt from the review is posted at the King World News blog here:
Absolutely Stunning Development In The Gold & Silver Markets