The JPM traders said the manipulation was routine, sanctioned by higher-ups and went on for years

carew4me

now I am not one who thinks "the whole market is rigged!!" - full stop.

but there are clearly market manipulations..spoof trades must be addressed

https://bloomberg.com/news/articles/2019-09-16/precious-metals-traders-charged-with-rigging-futures-contracts

ricko

There are more things in heaven and Earth, Horatio, / Than are dreamt of in your philosophy...Shakespeare.... However, even more true today....Cheers, RickO

jmski52

I note the words "massive" and "manipulation" and "multi-year" and "rampant."

Awaiting commentary from our favorite JPM apologists......3......2...….1......

MsMorrisine

They manipulated on the buy side and the sell side.

derryb

DOJ Accuses JPMorgan's Precious Metals Trading Desk Of Being A Criminal Enterprise

Fake News, right cornho?

mapleman

About time.

dpoole

Brazen, indeed.

MsMorrisine

another ZH article.

DOJ calls the desk a criminal enterprise operating inside JPM.

but they spoofed up and spoofed down. so they clearly were not holding it $100 off the "real" price.

yes, they were brazenly spoofing for years, but they are not the droids you are looking for.

derryb

so, just a little bit of manipulation, eh?

"But officer, I only shot him in the leg. It's not like i killed him."

MsMorrisine

I'm saying these were not the trades holding gold down from its "real" price.

cohodk

@MsMorrisine said:
I'm saying these were not the trades holding gold down from its "real" price.

Let derryho hang onto his cherry. Even a strawman needs to grasp at straws.

derryb

But the metals markets aren't manipulated. LOL

MsMorrisine

My posts say they spoofed up and down, thus I admit they manipulated the market.

However, they are not the ones hoped for who would be manipulating $100 off the price of gold every day.

The CFTC PR posted in another thread clearly stated they spoofed to both buy and sell.

MsMorrisine

@derryb said:

"But officer, I only shot him in the leg. It's not like i killed him."

death and survival are two totally different things.

blitzdude

The only way we get to $50 silver is by manipulation. It's been confirmed twice now. Hopefully someone will be able to do it a third time so I can cash out of this gutter metal. lol

MsMorrisine

All hail QE!

Edthelorax

https://goldsilver.com/blog/jpmorgan-now-holds-over-700-million-ounces-of-physical-silver/
https://westhillscapital.com/2018/10/25/jpmorgan-has-gone-long-in-paper-and-physical-silver-for-the-first-time-ever/
https://www.jmbullion.com/investing-guide/pricing-payments/who-owns-most-silver-bullion-today/

jmski52

they spoofed up and spoofed down. so they clearly were not holding it $100 off the "real" price.
yes, they were brazenly spoofing for years, but they are not the droids you are looking for

All they've ever wanted is to make money while driving weaker hands out of the market. As roadrunner says, "Wash, Rinse, Repeat". There's no revelation here except that it's become more and more obvious.

The only way we get to $50 silver is by manipulation. It's been confirmed twice now. Hopefully someone will be able to do it a third time so I can cash out of this gutter metal. lol

The only way we get to $50 is fear and greed. Silver just happens to be a small market that's sensitive to fear & greed - in addition to the manipulation.

The way it stays above $50 is QE, as MsMorrisine opines.

derryb

Unless CEO Jamie Dimon and former Head of Global Commodities, Blythe Masters, are indicted as well, the whole thing is just another dog and pony show.

Of note with this latest show is previously charged JPM trader John Edmonds has now had his sentencing delayed twice (must be singing like a bird) AND the DOJ has invoked the never used with banking RICO Act. Let us hope that Edmonds is not being kept in Epstein's cell.

I suspect someone wants a regime change at JPM and the only reason could be that JPM management is going rouge and refusing to play ball in some financial fashion.