JPM Chase traders busted for manipulating the gold market:
skier07
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From todays Wall Street Journal
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skier07
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Comments
Saw there was a world series poker guy involved as well.
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.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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.
Interesting that JPM is servicing Soros Fund Management LLC in a corrupt scheme to rip off everyone in the market.
I knew it would happen.
I noticed that.
they miss Madoff
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey