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CFTC fines JPM for rigging commitment of trader data

roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
in Precious Metals
Well, add this to shrinking list of things that aren't rigged in financial markets, assuming anything is still left. JPM gets a $650,000 "fine" or wrist slap for probably rigging markets to >1,000X that level.

This wrist slap covers bad behavior going back to 2012. But I'm sure that it doesn't include rigging gold or silver COT's. image

CFTC report

Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold

Comments

  • derrybderryb Posts: 36,949 ✭✭✭✭✭
    Add that the to the "London Whale scandal" where JPM was found to have used hundreds of billions of dollars of its bank depositors’ funds, not its own capital, to gamble in exotic derivates in London. It lost at least $6.2 billion on those wild bets.

    Yep, bank deposits are as safe as ever. image

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭


    << <i>.....Yep, bank deposits are as safe as ever. image >>




    Of course they are. The FED can just print the money and hand it over to the FDIC. Every single J6P gets made whole, regardless of the size of the bank's hole. image
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • cohodkcohodk Posts: 19,188 ✭✭✭✭✭
    Yep, bank deposits are as safe as ever.

    Just as safe as buying an asset and watching it lose 30-50% of its purchasing power?
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,949 ✭✭✭✭✭


    << <i>Yep, bank deposits are as safe as ever.

    Just as safe as buying an asset and watching it lose 30-50% of its purchasing power? >>


    Same theives, different account. image

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭


    << <i>Yep, bank deposits are as safe as ever.

    Just as safe as buying an asset and watching it lose 30-50% of its purchasing power? >>



    Are you referring to the stock market from 2000 to 2009?

    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • cohodkcohodk Posts: 19,188 ✭✭✭✭✭


    << <i>

    << <i>Yep, bank deposits are as safe as ever.

    Just as safe as buying an asset and watching it lose 30-50% of its purchasing power? >>



    Are you referring to the stock market from 2000 to 2009? >>




    Stocks, real estate, precious metals. All the same.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,904 ✭✭✭✭✭
    Yep, bank deposits are as safe as ever.

    Just as safe as buying an asset and watching it lose 30-50% of its purchasing power?

    No, prolly not THAT safe.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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