Gary Wagner: “Black Friday” gold scandal that occurred a couple of years ago. Beginning on Friday in which the markets in New York are only open for half a day unscrupulous traders took advantage of the absence of the majority of traders creating light liquidity using a trick called spoofing. Spoofing is when one places a large buy order to drive prices higher and simultaneously cancels the order and places a large sell order in the market with the new exaggerated high. Ho Hum Boring!...JPM at it again - no-one is ever punished individually
