Bix Weir: ALERT! Silver & Gold Market Rigging Is LEGAL Under US Law…but Not for Banks!
Yes, the Gold Reserve Act of 1934 gave the power of gold and silver market manipulation to the Exchange Stabilization Fund run out of the US Treasury Department.
This law has NOT been rescinded and is used on a daily basis to rig ALL MARKETS. But that does NOT mean that large banks, like JP Morgan, has the same legal standing when it acts on it’s own behalf!
During the 8 years that JPM traders were rigging gold and silver prices (from the short side!) they accumulated over 1B ounces of physical silver and of that silver a very large amount (over 300M oz!) of US Silver Eagles paying only $1-$2 over generic rounds.
This was facilitated by the US Mint. Today, as retail buyers clamor for US Silver Eagles the Mint REFUSES to make enough Silver Eagles to meet demand thus forcing retail buyers to pay $12-$15 over spot…TALK ABOUT RIGGING THE MARKETS TO ENRICH THE BANKS!
