JP Morgan was just fined $1 Billion by US regulators for rigging the precious metals and treasury markets. This is the largest fine ever for spoofing in the metals markets, but is on par with other fines within the financial industry.
We show in this video how Scotia, who was recently fined $127 million, and JP Morgan used spoofing to lower metals prices and take the gold right off of the market.
We also discuss how the wealthy individuals, trusts, and family funds also took delivery of metals well below their market prices.
We discuss how this price distortion in the futures markets, which drives the spot price of gold everyone across the world uses, affects the $11.8 trillion in gold ever mined that is held today.
We also discuss how the options market is used to take massive paper profits by the same banks that are shorting futures and spoofing prices down, with little to no risk.
We show definitively how the the $1 billion fine is clearly not enough. And how the banks and wealthy individuals have already won by taking possession of gold and silver at discount rates.
We discuss the pattern of massive deliveries being taken every two months, and how both October and December are setting up as huge physical delivery months on the COMEX.
We do not think there is much gold and silver left in inventories that can actually be used in future transactions, and if you want your gold and silver, your time is running out.
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