We first started noticing major ‘odd’ exports of gold from Turkey to Iran in May 2012. Turkey’s trade balance fluctuated wildly as gold stocks flowed out of the country in bursts – “Turkey’s going to continue it,” the Turkish economy minister said. “If those casting aspersions on the gold trade are searching for immorality, they […]
JP Morgan Blames Bear Stearns for ‘Criminal Enterprise’ at Precious Metals Trading Desk…
Regulators Expand Already Massive Precious Metals Manipulation Probe to Other Markets…
Just two days after the DOJ took the unprecedented step of designating the JPMorgan precious metals trading desk as a “criminal enterprise” using unusually aggressive language which reminded legal experts of indictments utilizing the RICO Act, and which hopefully ended years of precious metal manipulation by the group formerly headed by Blythe Masters, CNBC now […]
JPMorgan Traders Indicted for Market Manipulation, Racketeering…
Three JPMorgan employees, some of whom were executives, were indicted on charges related to making fake orders of gold, silver and other metals to trick the market, federal Department of Justice announced Monday. Gregg Smith, 55, Michael Nowak, 45, and Christopher Jordan, 47 and other co-conspirators allegedly manipulated the market by placing orders that they […]
Gold: $1500…
Gold prices on Wednesday jumped above an important psychological level at $1,500 amid a round of easy-money policies that helped to stoke fresh appetite for the perceived safety of precious metals. The 10-year U.S. Treasury note’s TMUBMUSD10Y, -4.93% fall to new lows not seen since 2016 below 1.7%, also helped to drive demand for bullion. […]
Wall Street Banks, in Drag as Trade Associations, Fight Indictments for Manipulating Precious Metals Markets…
On July 18 of last year, the U.S. Department of Justice indicted two Merrill Lynch precious metals traders, Edward Bases and John Pacilio, charging them each with one count of conspiracy to commit wire fraud affecting a financial institution and one count of commodities fraud each. Pacilio was further charged with five counts of spoofing. […]
Merrill Lynch Caught Criminally Manipulating Precious Metals Market “Thousands Of Times” Over 6 Years…
Remember when it was pure tinfoil-hat conspiracy theory to accuse one or more banks of aggressively, compulsively and systematically manipulating the precious metals – i.e., gold and silver – market? We do, after all we made the claim over and over, while demonstrating clearly just how said manipulation was taking place, often in real time. […]
The Golden Asteroid That Could Make Everyone on Earth a Billionaire…
Whether it was the Big Bang, Midas or God himself, we don’t really need to unlock the mystery of the origins of gold when we’ve already identified an asteroid worth $700 quintillion in precious heavy metals. If anything launches this metals mining space race, it will be this asteroid–Psyche 16, taking up residence between Mars […]
Putin Sets the Table to Leave the Dollar Behind…
This is twice that Russian President Putin has said on the global stage the Federal Reserve Note no longer deserves the status and privilege of “world reserve currency” that allows unlimited printing of the currency. The first time he made mention he actually said that it was a threat to Russia’s national security. In a […]
Venezuela’s Gold Diplomacy Gamble…
As Venezuela’s oil industry has plummeted with sanctions and economic collapse, President Nicolas Maduro has turned to his country’s other mineral wealth: gold…