I must admit that I've been watching JP Morgan pull the same manipulation stunts over and over again for years. And it's not just in the silver markets. On November 18, 2005 when natural gas prices were skyrocketing to near $15 due to the ravaging of hurricanes Katrina and Rita the Federal Reserve announced that they had approved JP Morgan to trade in natural gas. That announcement can still be found on the Federal Reserve website here:http://www.federalreserve.gov/boarddocs/press/orders/2005/20051118/default.htm

At the time I told all my subscribers invested in natural gas to "run for the hills" as it felt like there was something afoot. In less than 1 year JPM had trashed natural gas down to what everyone thought was a floor of around $6 and the "smart money" had loaded up for what they thought was going to be a nice ride up...But JPM was not done and went for the final choke out driving the price down below $5 and holding it there destroying Amaranth in their wake then buying up the pieces to make at least $750M but many suspect over $2B. Here's the price graph to see what happened after Nov 2005.

Say, do you think they have people over at JP Morgan that actually study industry data?

http://www.eia.doe.gov/pub/oil_gas/natural_gas/feature_articles/2006/ngstorage/ngstorage.pdf

I'll make it easier:

http://en.wikipedia.org/wiki/Natural_gas_storage

scroll down to the chart that shows a rise in natural gas storage capacity beginning in 2005.

If you research this topic a bit instead of believing the whole cloth spun by guys like "Crash JP Morgan" Weir you'll see that an increase in approvals for expansion of NG storage capacity started around the same time as Hurricane Katrina.

From Forbes

http://www.forbes.com/2009/08/27/natural-gas-storage-business-energy-niska.html

"There has been a push to build more storage since hurricanes Katrina and Rita hit in 2005, along with expectations of growing liquefied natural gas imports. Jeff Wright, director of office of energy projects at the Federal Energy Regulatory Commission, says approved applications for new gas storage facilities averaged about 30 billion cubic feet a year between 2000 and 2004. It nearly hit 100 in 2005. In 2008, the commission approved 216 Bcf of storage, he says, attributing the jump to the development of unconventional shale plays and expectations of LNG imports. "We should easily get to triple digits again this year," Wright says."

So, according to Weir, the sinister JP Morgan trashed the NG market causing our home heating and air conditioning costs to go down? Those bastards! I was just getting used to higher prices...LOL!

There's a conspiracy here alright. A conspiracy to waste my time.

ebear