Speaking before Congress in March, reported Mineweb's Dorothy Kosich, GATA Chairman Bill Murphy said Maguire gave a detailed account of how “JP Morgan Chase signals to the market its intention to take down the precious metals. Traders recognize these signals and make money shorting the metals alongside JPM. [He] explained how there are routine market manipulations at the time of option expiry, non-farm payroll data releases, and COMEX contract rollover, as well as the ad-hoc events."Shady business on Wall Street is not such a surprise, but still an outrage. Whether criminal or civil charges will really brought against JP Morgan Chase remains to be seen. On a Lighter Note . . . CPM Group's annual Silver Yearbook is out for 2010. The report highlights strong investment demand as the driving force behind rising silver prices in 2009 with investors buying 209.7 million ounces. “This was the third largest amount of annual net silver purchases on record, surpassed only by the 222.2 million ounces purchased in 1980 and the 226.0 million ounces estimated to have been added to investor holdings in 1968,” said CPM in a news release. CPM is forecasting investment purchases of silver will total 213.9 million ounces in 2010. "Silver has definitely benefited strongly from the economic woes of the world," CPM Group's managing director Jeffrey Christian told Reuters. "Investors are looking at silver and saying: It's a good buy because I can buy it as a safe haven like gold, and if the economy does get better, it's an industrial play." Fabrication demand is also expected to rise 2.4 percent in 2010 to 631.2 million ounces on increased demand for electronics, flat-screen display panels, photography, solar panels, batteries, jewelry and silverware, amongst other industrial products. Mine production for 2010 is projected to rise 5 percent to 581.2 million ounces.