Will gold and silver miners join the lawsuits against JPMorganChase?
By: Chris Powell
GoldSeek.com
Tuesday, 18 December 2018
Dear Friend of GATA and Gold:
Are gold and silver mining companies joining the class-action lawsuits being filed against investment bank JPMorganChase because of the confession by a former futures trader for the bank who has pleaded guilty to manipulating the monetary metals markets?:
https://www.cnbc.com/2018/12/13/jp-morgan-faces-lawsuits-after-guilty-pl…
While gold and silver mining investors are asking that question, GATA has seen no evidence that their companies are joining the lawsuits against JPMorganCase.
Of course few gold and silver mining companies have ever expressed interest in the market manipulation issue to begin with, even though GATA has been documenting manipulation for 20 years and two years ago another investment bank, Deutschebank, settled similar gold and silver market rigging lawsuits by offering $100 million in damage payments and providing evidence against other market riggers:
http://www.gata.org/node/16380
It’s not clear whether gold and silver mining companies would qualify as participants in the lawsuits. Such lawsuits have been construed to be open only to those who traded gold and silver futures contracts during specified periods. But gold and silver mining companies, especially producing companies, sometimes trade futures to hedge their production and other financial obligations, so they might qualify.
The Rest…HERE
