Reasonable questions should be answered reasonably. When such questions cannot be answered reasonably or at all, particularly by those with a responsibility for answering, something is wrong. A good number of such questions remain unanswered in silver and those not providing answers include the federal commodities regulator (the CFTC), the designated self-regulator (the CME Group), as well as the most important bank in the US, JPMorgan.

What constitutes a reasonable question in silver? I would define questions to be reasonable if they encompass occurrences known to be unprecedented either in silver or in any other market and in which the questions have been repeatedly asked, yet remain unanswered. To be sure, there are several such unanswered questions in silver that date back as long as a decade; each one of which stands out in terms of potential significance, but taken together point to something being seriously out of kilter in the silver market.

Standing in the way of the questions being answered is that those who know, or should know the answers, just won’t provide the answers. But now the Department of Justice has burst upon the silver scene by virtue of its Nov 6 announcement of a criminal guilty plea for manipulation on the COMEX by a long time former trader for JPMorgan, as well as its clear statement that it is immersed in an ongoing investigation. Overnight, the prospects for the previously unanswered questions finally being addressed have greatly improved. Make no mistake, if the Justice Department asks the right questions, the ongoing silver manipulation will come to a screeching halt.

But if the Justice Department doesn’t ask the right questions, it may miss the financial crime of all time. In order to prevent what would be a great miscarriage of justice, allow me to suggest the questions that should be asked by the Justice Department of those who hold the answers, but have refused to answer, namely, the CFTC, the CME Group and JPMorgan, along with others.

1. How could it be legitimately possible for JPMorgan to never have taken a loss and only achieved profits when adding to COMEX silver short futures positions since March 2008? All told, since then, JPMorgan has amassed at least $3 billion in cumulative realized profits in trading COMEX silver futures from the short side. Is such an unprecedented feat possible in a market that wasn’t rigged?