Bill Murphy- ‘JP Morgan Is FINISHED! JPM Silver Scandal Will Rival LIBOR!’

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 below:

Comments

  1. I agree things are aligning for silver and we may have a paradigm shift, but things never seem to work the way the “should”

  2. He’s right, they are using SLV’s silver (sold to and “owned” by multiple parties)  to source big deliveries.    I think this silver debate should be settled by Murphy and Jeff Christian fighting it out bareknuckles.  

  3. The government will pull strings and cover this up to try to keep the almighty dollar king as money instead of gold and silver taking its place.

    • Marry, you may very well be proven right about JPM — if the government can in fact pull off such a monumental can kicking exercise. But when considering the bigger picture, one way or another, at some point, the system will change — and quite possibly through a crash. The nature of entropy, the history of all empires and the history of all fiat systems point to an almost certain outcome: the almighty dollar will not remain king forever. In fact, within the hollowed halls of policy thinktanks and international monetary organizations like the IMF and the BIS there has been extensive discussion about the inevitable transition away from the Bretton Woods 2 US dollar reserve system, including probably 20 or 30 policy papers discussing options out in the open, on the record. It’s not clear what new system will evolve and emerge (there are some structures more probable than others), nor certainty when the transition will accelerate. But make no mistake. The transition *is* coming, and it will likely happen within ten years, if not just 2 or three years out. This JPM silver manipulation story may very well end up being part of the set of events that push that evolution to a new system further along.

    • I think that in very short order the Chinese will have a say in this and don’t think they are working for the Fed.

  4. Hi everyone, new to the silverdoctors site.  I too find this site to be the most informative of the pms (sorry gotta a wife, lol) pm’s sites.  If JPM is exposed in this silver manipulation scandal and they are brought down as Enron was, will this also bring down the Fed?  And if so, what does it do to the world currency?  Thanks in advance.

  5. The Fed and JPMorgan are joined at the hip, so no one is going to jail here.  Maybe they pay a fine.  Remember Barrick’s defense was they were acting at the beset of the U.S. gov’t.

  6. By the way, the subject of the US long-term interest rates came up in the Bill Murphy interview but the back-up wasn’t really explained.  I highly recommend checking out Turd Ferguson’s latest musings here and here.  The Fed, having danced its last twist, is unable to sell much on the short-end to buy long-term paper without a new round of outright unsterilized  QE.  Operation Twist allowed the Fed to keep impact to money supply subdued when selling shorter duration paper, applying the funds to immediately turn around and buy long duration paper, pushing down 10 year bond yields in support of lower mortgage rates.  The implications for the PM sector are monumental.  The Fed has no choice but to support the bond market.  The Fed took down over 60% of new issuance last year and the picture is getting worse, not better, as the king dollar system is already starting to fall appart.  There’s still reasonable demand for short duration issuance internationally given the safe haven trade, but Uncle Sam looks sickly when peeking at the long bond market.

    • @FlyingWombat  Great post FW.  Agreed, the implications for PM’s are huge. 

    • @UglyDog:  Thanks. We both know a zero or negative interest rate policy for reserves held at the Fed is highly probable.  But I tell ya what has me scratching my head…  That strategy can only help with the bond market purchase problem in a very round-about way.  Basically, the Fed would have to hope that the economy would improve massively such that the global system would normalize and bond buying patterns would return to “normal.”  …yeah, and I have a really nice bridge for sale.  Fat chance that chain of events would be strong enough to change a world where the Fed has needed to buy 60%+ of bond issuance. Banks would certainly buy more bonds at the margin rather than house funds with the Fed, but I doubt that incremental increased purchases could come anywhere near making up the difference behind the 60%+ shortfall.
       
      So…  That means the Fed has no choice but to keep buying bonds directly, which means they seem to have no choice but to embrace unsterilized QE.  Yet when we hear pundits talk about Fed asset purchases it’s mostly in the context of the Fed buying mortgage-backed securities.  To do Treasury bond purchases outright will cost more political capital – it would be far less popular.  AT some point, retirement accounts and pension funds will likely be targeted, with mandates on the purchase of US debt. But that’s not going to be an easy thing to shove down our throats and it will likely take time to execute such a move. The only way to buy time is with unsterilized QE.
       
      Sometimes I wonder what kind of drugs B. S. Bernanke is on because his televised appearances show a man that is still able to sleep at night.  Lord only knows how that’s possible.   His back is against the wall. 

  7. I just love Bill Murphy, he’s a major force for good in our society. Him and Ted Butler are like the john the baptists of the precious metals manipulation scheme, voices crying in the wilderness no more. Fly the gata flag proudly.

  8. The ‘Grand Meme’ is that banknotes are viable on a basis of the public’s confidence that their financial and economic safety can be sustained by government and bank ‘policy’ maneuvers to perpetuate ‘value’ in the Bond-Note ‘Siamese Twins’. Indeed, the premise in this interview pivots on that ‘loss of confidence’ to reach conclusions stated. While Mr. Murphy’s projected results are accurate, they are so, not because of matters of mere trust, lost on revelations of criminality, but because of mathematical processes. However convincing the banknote scheme may appear lasting in peoples’ minds, its creeping doom is rather a matter of complex compounding interest on currency creation, steadily depreciating its rational purchase-power while coincidentally raising debt load to which that eroded purchase-power must be applied!

    One can say … ‘well, you’re both correct, so it doesn’t really matter in the end’, but the general outlook of the public is CRITICAL once the banknote scheme suffers catastrophe, because if its demise is accepted to only have resulted from mere ‘loss of confidence’, the same self-destructive foolishness has a psychological ‘egg’ to ‘inseminate’ all over again.

    This false preconception of ‘confidence’ in the banknote monetary scheme as being the principal foundation for its success or failure, is the elites’ carefully maintained ‘highway’ on which they keep rolling out ever newer versions of their banknote juggernauts through the ages. Consequently, folks MUST be taught that banknote ‘money’ can NEVER survive because incapacity of mathematical ‘control’ mechanism foreshadows certain doom … every time!

    It’s becoming perfectly clear that we’re soon to see ‘gold backed’ currency re-introduced to return ‘confidence’ to the banknote scheme. IT’S A TRAP!

    • When grandma goes to buy a gallon of milk and has to pay $10 out of her SS check she might lay a psychological egg on the grocery store floor.

  9. This is a beeeeeautiful thing! Finally the game turns. Good fortune to all the stackers out there.
     
    Hi ho Silver…..away!

  10. Don’t forget this is an election year and the October Surprise is just around the corner. 

    So I’m sitting back and waiting for them to pull the curtain on door #1.

  11. A note about Spain and Greece with their terrible situations.  Millions of people are taking to the streets over lack of jobs, imploding wages and exploding prices.  A group of unionists have stripped grocery stores of their food inventory in Spain.  And this is all happening while gold and silver prices are relatively low.  What happens when the velocity of money, now at a depression era lows, accelerates 5-10 times over.   There’s $1.5 trillion in banks. If that is released and with leverage becomes $15 trillion, inflation, PM values and food prices will explode. Grandma won’t be crapping her Depends over this. She  will be starving. And just because she’s old does not mean she will go down without a fight.
    One out of five people in this country don’t have money for food. They are running out money before they run out of month and depend on food banks. I contribute to one regularly. These folks live paycheck to paycheck. 
    PM prices will ramp upwards when money and its velocity increases exponentially. But the ‘pain at the pump’ will make miserable the lives of the 99% of the people without precious metals. They, like the Portugese, will be selling their wedding rings for food.
    AgAu Rules. You are right 
    But grandma will not starve when the actions of central bankers and their cronies in the private sectors create 10% inflation a month and turn her Social Security check into confetti.  Granny will get her gun and eggs won’t be on her mindon that fateful day. 
    As for the entitments and obligations  totalling $100 trillion that our government has committed to over the last 40 years, this government we love so well for its emoluments and largess will inflate us to debt laden penury without a moment’s thought. The elites in our government are ghouls who care not one  wit for the people.  We are screwed unless we get into physical metals and do in quickly and in as large an amount as possible without bankrupting yourself in the process.  LOL  You can’t go bankrupt owning silver and gold.  But you can live a live without counterparty risk. 
    The choice of presidential candidates today is a choice between debt default in 2022 or 2024. That math is that compelling and incontrovertible.  And none of these elites with give a rat’s ass if we expire due to their spending policies. Every empire in the history of mankind has gone this way.  We will just be one more huge steaming  FIAT cow pie on the historical road to Perdition.  Heck, it’s only Wednesday and I’m already fed up with all the political BS.

  12. Not with Dimon and his Presidential Cufflinks! He is untouchable!! Don’t forget that the Prez has 9 million or so with the Morge!

  13. I agree with uglydog. The Fed and JPM are joined at the hip. The fines would be paid for them anyway and
    this manipulation may stop for a while. Life will go on and people will forget about it just like the other scandals

    The End

  14. BTW     Hop over to ZH and check the action on the Greek tax riot in a small island town.  The Greek Tax Nazis are very lucky the Greeks were disarmed years ago otherwise the body count would have been in the dozens.  Keep your eyes skinned for this sort of action in the US and it will tell you when things are going to get really ugly. When the goon squads send their troops to check every business to account for tax receipts, that is when we are at a tipping point.

  15. AGXIIK–couldn’t have said it better myself.  USA will have a lot of pain, guaranteed.  Energy and food costs will explode.  Kinda like the late 70′s on steroids, if anyone else is old enought to remember that, LOL. 

  16. I hope that everyone that visits and reads Silver Doctors articles and comments have made a good effort to prepare themselves for what I believe is going to be a very tough road ahead for us all.  Stacking PM’s is really good and I believe will help protect us for the road ahead, but much more must be done in the food, potable water and self sustenance categories.  May the Lord lead us and guide us through these tough times.

  17. 1933 mcfadden comes to mind , fed n bankers pfft this go around wont just be with silver … will include gold market will plummet n sink world wide depression …

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