I don't expect to see JP Morgan go down in flames. They will try to drag this on for year. BUT, this bobmshell global exposure is another dagger in their heart....and their hitherto denied illegal acts of stealing all they can from the public...will now have meaning in a very negative way. Serious people have been pointing the finger at JP for years now. With the mainstream media and the CFTC on the case...plus a growing horde of others, they can deny and lie all they want but the damage is done. The GATA folks, after 11 years of courageous, dogged pursuit of the truth are no lnger the tin foil hats.

This all comes at a very difficult time for the US Administration just before an election. This bank is tied at the hip to the US Gov. and has been deeply intertwined with the Administration of all US Goverments for years. For Obama, it is ill fortune indeed that yet another very serious red flag is waving re this bank and it's litany of illegal business activities. Look for the Republicans to take over both houses next week and for the Dems to stick it to those who voted them out. All bets are off now.

How many conspiring rats will now be doing some deep naval gazing about distancing themselves from JP? I submit ...many.

Anyway, this is a major blow to one of the ringleaders of the gold and silver fraud that has existed ever since the Robert Rubin days when it was decided to prostitute gold for a phony strong dollar policy. Of course, one could really say it all started in 1913 When the US Fed. was created in a clandestine meeting in the dark of night when Congress was off guard, and took over printing money for the US at Jekyll Island. That was the day that gold was doomed as a backing for the US dollar.

Things are going to get very interesting now. How much spin is there left in the ongoing management of perception economics (MOPE) that Jim Sinclair has been correct on for years? It will be most interesting to see how the game will be played re the next QE day next Wednesday. The whole dam world is abuzz about it. Will they break hard, gradually or soft?