Market Watch

Proviso 89.145 South Carolina Treasury Accuses Fed and JP Morgan in Market Manipulation

Its looks as if S. Carolina, when looking into weather or not Gold/Silver would be a good investment for the State, concluded that in addition to speculation into the markets and possible commodities bubble also accused the Federal Reserve, JPMorgan, and HSBC among others of directly manipulating the market… (Full PDF HERE)

“Similar to other commodities, the value of gold and silver is determined by supply and demand, as well as speculation. The Federal Reserve, the London Bullion Market Association, JP Morgan Chase and HSBC Holdings have practice fractional reserve banking and engaged in naked short selling causing artificial price suppression. “

Not a big revelation here. But, it isn’t every day a State Treasury Department accuses the Federal Reserve and JP Morgan Chase of manipulating the prices of metals which has been “officially” looked into and deemed “not occurring”.  Any-who, decided to take a peek into this a little bit further and it looks as if a investigative reporter through gold/silver money has dug up some interesting tid-bits on the subject. It looks as if since 2006 the U.S. Silver mint has used a “Trading Partner” due to market “volatility” as the above ground silver supply has all but evaporated. Wanna guess who the U.S. Treasury trading partners operating bank and accountant  is? HSBC. Wanna Guess who hedges for HSBC? Wanna guess who now has legal wiggle room due to the fact only a couple of banks could actually supply the amount of silver needed to the U.S. Treasury?

Take a look at the following video. You can skip to 8:00 min if you want to get to the meat and potatoes…