– Lost Trust –
We keep looking for the “Silver Lining”, where legal complaints may eventually unravel the worldwide money cartel… ~Ron
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[EXCERPT QUOTE]
Why it Was Dismissed in June:
U.S. District Judge Paul Engelmayer in Manhattan, however, said the plaintiffs, who also included traders Mark Grumet and Thomas Wacker, did not show that JPMorgan made “uneconomic” bids, or intended to rig the market at counterparties’ expense. He also questioned the plaintiffs’ use of Silver Indicative Forward Mid Rates (“SIFO”) as a benchmark for determining proper levels for the spreads in their lawsuits.
[…]
The Appeals court did not say they whether or not JP Morgan exercised such ability to monopolize the Silver market. But the statement that they noted the power to do so was proven in the first hearing is significant in that it agrees with the District court’s findings. If it is proven that monopolistic power was exercised, then game over. And traders know, to have monopoly power and not use it means you get fired from a bullion bank. Why? Because if you don’t do it, your competitor will.
Now What?
- The appellate court says the plaintiffs made a sufficient enough case for further investigation into a monopoly claim
- The findings of the appellate court will accompany the case file
- Judge Engelmeyer’s decision is removed and the case is remanded for further litigation and discovery
Monopoly and Motive
The facts will come out. Once SIFO and COMEX spreads are proven to be factually linked, the Sherman Anti-Trust case will be made. And once the aggregate position of all parties is known, motive can be exposed. It may even help JP Morgan.
Read full report: zerohedge.com
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