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  • Paul799's Avatar
    09-17-2019, 06:21 AM
    DOJ Accuses JPMorgan's Precious Metals Trading Desk Of Being A Criminal Enterprise Who would have thought that JPMorgan's precious metals trading desk is the functional equivalent of the mafia, and that its one-time leader, Blythe Masters, was the mafia's don? Well, almost everyone who didn't mind being designated a conspiracy theorist for years. And now comes vindication, because this has just been confirmed by the DOJ, which accused the PM trading desks at JPMorgan of being deeply involved in what prosecutors described as a "massive, multiyear scheme to manipulate the market for precious metals futures contracts and defraud market participants." In an indictment unsealed on Monday morning, the DoJ charged Michael Nowak, a JPMorgan veteran and former head of its precious metals trading desk and Gregg Smith, another trader on JPM's metals desk, in the probe. (Blythe Masters was somehow omitted). “Based on the fact that it was conduct that was widespread on the desk, it was engaged in in thousands of episodes over an eight-year period -- that it is precisely the kind of conduct that the RICO statute is meant to punish,” Assistant Attorney General Brian Benczkowski told reporters.
    28 replies | 2615 view(s)
  • Paul799's Avatar
    09-13-2019, 04:50 AM
    I agree with the message that the silver market and all available silver are comparatively tiny figures. That said, maybe it is important to distinguish between the two concepts: even if there is few silver tradable, i.e. even if the silver market cap is low, a very big silver market (big volume) is possible in case of high trading velocity. It is also important to be clear about what is meant with "silver market". Phisical silver market? Futures and Options silver market? (e.g. Comex) Unallocated silver market? (e.g. the London Bullion Exchange) Silver Derivatives market?
    9 replies | 366 view(s)
  • Paul799's Avatar
    09-13-2019, 04:05 AM
    Andrew Maguire Explains How Banks Manipulate Gold and Silver COMEX Markets 6 min.
    28 replies | 2615 view(s)
  • Paul799's Avatar
    09-10-2019, 03:14 AM
    Paul799 replied to a thread Kinesis in Personal Prosperity
    Kinesis is (finally) live! For the occasion, they put up a new website ... and of course the cool adclip couldn't be missing :) The market cap of the Kinesis currencies can be seen here
    41 replies | 4985 view(s)
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