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JPM Chase traders busted for manipulating the gold market:

skier07skier07 Posts: 3,598 ✭✭✭✭✭

From todays Wall Street Journal


Comments

  • justindanjustindan Posts: 686 ✭✭✭✭✭

    Saw there was a world series poker guy involved as well.

  • tincuptincup Posts: 4,721 ✭✭✭✭✭

    I would not 'assume' the problem has been corrected with the results of this case. Too much money can be made with spoofing the markets, and I'm sure it will (and is) continued by others.

    ----- kj
  • derrybderryb Posts: 36,013 ✭✭✭✭✭

    @tincup said:
    I would not 'assume' the problem has been corrected with the results of this case. Too much money can be made with spoofing the markets, and I'm sure it will (and is) continued by others.

    or it never happens.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • skier07skier07 Posts: 3,598 ✭✭✭✭✭

    I found the article to be very interesting as I had never heard of spoofing before. I have no doubt there are multiple other ways to manipulate a market that I am unaware of.

  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    Interesting that JPM is servicing Soros Fund Management LLC in a corrupt scheme to rip off everyone in the market.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • skier07skier07 Posts: 3,598 ✭✭✭✭✭

    @jmski52 said:
    Interesting that JPM is servicing Soros Fund Management LLC in a corrupt scheme to rip off everyone in the market.

    I noticed that.

  • derrybderryb Posts: 36,013 ✭✭✭✭✭

    @skier07 said:

    @jmski52 said:
    Interesting that JPM is servicing Soros Fund Management LLC in a corrupt scheme to rip off everyone in the market.

    I noticed that.

    they miss Madoff

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • derrybderryb Posts: 36,013 ✭✭✭✭✭
    edited August 14, 2022 7:18AM

    The End Game for Silver Shenanigans...

    "If (COMEX vault) outflows in the next 18 months match those of the past 18 months, the available physical inventory could approach zero. That is the moment when holding silver IOUs will not be the same as holding the metal itself. In such a scenario, a default on the futures trading exchanges may only be avoided if prices for silver rise enough to entice the holders of physical bars to part with them."

    And we all know who determines higher (and lower) silver spot prices. So yes, the very parties who have been restricting the spot price of silver may soon be forced to increase the spot price of silver. The major bullion banks know this. This is why their PLAN B involves massive holdings of physical silver.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

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