This is not the only way they are cheating, they are using every tool they have to manipulate the market. Thier strategy for ~15 years now has been to short paper silver (ETFs) to hold the price down, while buying and stockpiling actual physical silver. They now have a 500 million ounce hoard. As the article mentions, they got this idea after they acquired Bear Stearns in liquidation, who had billions of long term shorts on paper silver ETFs.
JP Morgan is almost as crooked as Wells Fargo. A $1 Billion fine is nothing to them, especially because they are hoarding precious metals with the intent of being "last man standing" in a hyperinflation scenario. If I was RICOing them, I would stipulate that they lose the actual object of thier conspiracy - the silver. Unlike gold, which is used mainly for speculation, silver has many industrial uses and a certain constant demand. If JP Morgan nukes silver production, the whole world suffers.
Highly relevant plug: https://gsiexchange.com/jp-morgan-cornered-silver-market/
JP Morgan is almost as crooked as Wells Fargo. A $1 Billion fine is nothing to them, especially because they are hoarding precious metals with the intent of being "last man standing" in a hyperinflation scenario. If I was RICOing them, I would stipulate that they lose the actual object of thier conspiracy - the silver. Unlike gold, which is used mainly for speculation, silver has many industrial uses and a certain constant demand. If JP Morgan nukes silver production, the whole world suffers.