JPM and the Fed are very happy to see thousands of gold and silver longs get get cleaned out in the last few days. This will tamp down the PMs markets for a while partly beacuse people have lost big and are out of betting money
Did JPM and The Fed have a hand in this route? Yes, it would not have been as bad without them. JPM has special trading programs (algorithms) that amplify downward trends/panics in gold and silver. JPM is the Feds agent here. JPM “owns” the NY Fed or let’s just say it has lots of influence on the NY Fed money machine
Latest best rumor (truth?) being there is a tunnel inbetween the JPM and NY Fed Reserve subterranean gold vaults. The ones in that Die Hard movie
rout not route
There’s no doubt that the Fed is glad to see its toady financial firms clean up in these swings. The market psychology prior to Easter (just after Cyprus) was bullish and a lot of longs went on margin. It was a perfect time to 1) smash the longs 2) make money and 3) buy another year for the Fed to inflate. Only #3 really matters.