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Fraud! - JP Morgan Managing Director & LBMA Board Member Indicted for Rigging Precious Metals Markets

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Imagine a fraud so big almost no one can grasp it.

Selling papper Gold and Silver to suppress the price of the world Preious Metal Markets, while buying Physical Gold and Silver for next to nothing.

Now What?

Will Precious Metals Correct Back To Fair market Value? 

What Is Fair Market Value? 

As you’ll see in the videos below, fair Market Value may be much higher than today’s Prices. Much, Much Higher.

I found this information over at bullionstar.com – Michael Nowak, JP Morgan Chase managing director and head of the bank’s global precious metals desk, who is also a Board member of the London Bullion Market Association (LBMA), has just been indicted and charged by the US Department of Justice (DoJ) with manipulating the prices of precious metals-futures contracts over an 8 year period.

Racketeering Conspiracy and other Federal Crimes

In the indictment unsealed 16 September 2019, the DoJ charged LBMA Board member and JP Morgan managing director Nowak, along with JP Morgan precious metals trader Gregg Smith and former JP Morgan precious metals trader Christopher Jordan for:

alleged participation in a racketeering conspiracy and other federal crimes in connection with the manipulation of the markets for precious metals futures contracts, which spanned over eight years and involved thousands of unlawful trading sequences.

Commenting on the case, Department of Justice Assistant Attorney General Brian A. Benczkowski stated that:

“The defendants and others allegedly engaged in a massive, multiyear scheme to manipulate the market for precious metals futures contracts and defraud market participants.”

“These charges should leave no doubt that the Department is committed to prosecuting those who undermine the investing public’s trust in the integrity of our commodities markets.”

FBI Assistant Director in Charge William F. Sweeney Jr. of the FBI’s New York Field Office commented that:

“Smith, Nowak, Jordan, and their co-conspirators allegedly engaged in a complex scheme to trade precious metals in a way that negatively affected the natural balance of supply-and-demand.”

 “Not only did their alleged behavior affect the markets for precious metals, but also correlated markets and the clients of the bank they represented. 

Is this going to be another dog and pony show that just goes away?

Or is this is how they take the heat off the big bank and isolate it to a few individuals who work there. The Fall Guys!!

Stay Tuned, I’ll be following this as it progresses.

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    Total 2 comments
    • ElOregonian

      The pain is coming…

    • beLIEve

      THEY (BANK$TER$)…….FAKE “jooz”…….ARE “apparently” ALL AT IT…… :wink: :mad: :idea:

      * * *

      Court File No. CV-15-543005-OOCP ONTARIO SUPERIOR COURT OF JUSTICE JULIUS DI FILIPPO and DAVID CARON
      and Plaintiffs….THE BANK OF NOVA SCOTIA….SCOTIA CAPITAL (USA) INC….BARCLAYS PLC….BARCLAYS BANK PLC….BARCLAYS CAPITAL CANADA INC….BARCLAYS CAPITAL INC….BARCLAY CAPITAL PLC….DEUTSCHE BANK AG…DEUTSCHE BANK SECURITIES LIMITED….DEUTSCHE BANK SECURITIES, INC….HSBC BANK PLC….HSBC HOLDINGS PLC….HSBC BANK CANADA….HSBC SECURITIES (CANADA) INC…..HSBC USA INC….HSBC SECURITIES (USA) INC….LONDON GOLDMARKET FIXING LTD….SOCIETE GENERALE….SOCIETE GENERALE (CANADA)….SOCIETE GENERALE SA….SG AMERICAS SECURITIES….LLC….UBS AG….UBS BANK (CANADA) and UBS SECURITIES LLC

      Defendants Proceeding under the Class Proceedings Act, 1992 AMENDED AMENDED STATEMENT OF CLAIM Notice of Action Issued on December 18, 20151.
      The plaintiffs claim on behalf of themselves and other members of the proposed Class (as defined in paragraph 15 below):(a)
      A declaration that THE DEFENDANTS CONSPIRED, AGREED AND/OR ARRANGED WITH EACH OTHER TO FIX, MAINTAIN, INCREASE,, DECREASE, CONTROL or UNREASONABLY ENHANCE….the PRICE OF GOLD in the GOLD MARKET…..DURING the Class Period (as defined inparagraph 15 below);

      :arrow: CLICK on link for full document

      https://sotosclassactions.com/wp-content/uploads/2017/11/Gold-Amended-Amended-Statement-of-Claim-Nov-7_17.pdf

      * * *

      3 x Financial Class Action Lawsuits are “on the books” of Sotos LLP Canada…..GOLD & SILVER & FOREIGN EXCHANGE MANIPULATION

      https://sotosclassactions.com/cases/

      * * *

      GOLD/SILVER ……..essential in times of INFLATION and………MONEY PRINTING…QE :!:

      THEY……do not want the people to be….independent of THEM……it reduces the opportunity to CON-TROLL. :idea:

      * * *

      THE CHINESE AND MAGINOT GOLD LINES

      By Egon von Greyerz February 14th 2019

      TAKE A LOOK at the FAMOU$ PHOTOGRAPH of CHINESE people QUEUEING for GOLD…..people DIED in the LINE. :idea:

      *

      CHINESE FIAT MONEY IN 740 BC

      The Chinese people have learnt the hard way the IMPORTANCE of GOLD. CHINA WAS the FIRST COUNTRY TO INTRODUCE…
      FIAT MONEY (intrinsically worthless) DURING the TANG DYNASTY 740 B.C. :idea:
      The value of the Chinese fiat money remained stable until the Yuan Dynasty in the 13th – 14th centuries.
      This was the FIR$T PERIOD of CHINE$E HYPERINFLATION as……………

      :mad: :idea: THEY PRINTED VA$T AMOUNT$ of MONEY TO FUND their WAR$. :idea: :twisted:

      Later, IN THE 1930s and 40s, CHINESE MONEY LOST ITS VALUE TOTALLY as the Chiang Kai Shek rule was coming to an end. He was the President of Mainland China from 1928 to 1949. Chiang started in grand style.
      Already IN 1929 LOAN$ MADE UP 49% OF the GOVERNMENT REVENUE.
      The FINANCES DETERIORATED FURTHER AFTER the JAPANESE INVASION IN 1932.

      In THE FINAL YEARS of Chiang’s rule, the CHINESE ECONOMY WAS COLLAPSING…and….MONEY PRINTING WA$ RAMPANT.

      :idea: :mad: ONE US DOLLAR WA$ WORTH….Yuan 3.4 in 1937…AND….WENT TO Yuan 23 MILLION in 1949. :idea: :idea:

      CHINESE GOLD LINE …photograph :idea:

      The Chinese understanding of the importance of gold….STARTED…..DURING THIS HYPERINFLATIONARY PERIOD….AS ECONOMIC CONDITIONS DETERIORATED SEVERELY. :idea:

      The PHOTOGRAPHER Henri Cartier-Bresson captured, in the famous picture below, A PROPER CHINESE GOLD RUN. :idea:

      In December 1948, AS the CURRENCY BECAME WORTHLESS, the Nationalist GOVERNMENT DECIDED TO ISSUE…..
      40 GRAMS OF GOLD PER PERSON.
      As the photo shows, THERE WAS TOTAL PANIC….TO GET HOLD OF the LIFE SAVING GOLD….and MANY GOT CRUSHED to DEATH.

      :arrow: CLICK on link for full article

      https://goldswitzerland.com/the-chinese-and-maginot-gold-lines/

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