Gold is back to $1600 and silver to $40 so JP Morgan's 1 day silver attack cost us nothing right.
Not so - our collateral damage yesterday was a $0.07 loss on ECU and only a $0.01 gain today.
Plus our News Release today was totally discounted because of the negativity generated by the attack.
I lost 3.5% of my portfolio value yesterday and only gained back 1.1% today. I know you only lose when you sell but it might take a long time to gain back those losses. Also for frequent traders there is an opportunity cost for deferring some sales and the subsequent purchases.
So my point is when people sue JP Morgan for its criminal activities there is more than the price of G&S to take into account, there is the collateral damage to pm shares.
From MIDAS tonight
"Government has coddled, accepted, and ignored white collar crime for too long. It is time the nation woke up and realized that it's not the armed robbers or drug dealers who cause the most economic harm, it's the white collar criminals living in the most expensive homes who have the most impressive resumes who harm us the most. They steal our pensions, bankrupt our companies, and destroy thousands of jobs, ruining countless lives." … Harry Markopolos (Madoff Scandal) in Congressional Testimony