Chris Marcus at Arcadia Economics has an update on the JP Morgan gold and silver manipulation class action suit. I believe that the outcome of this suit is critical in removing obstacles to free trading in the precious metals market. Christ notes:
With the Department of Justice labeling JP Morgan a “Criminal Enterprise” while charging it with the RICO Act, many who suffered losses in the gold and silver markets due to the bank’s illegal activity are wondering if there are options to for compensation.
At this point, the short answer is I’m not sure. But it’s looking like that will be the case.
Here’s an update with what I currently know, and I will report back soon. Because as I am writing this, I have just heard about some new positive developments in the case.