JP Morgan pays a $ 920.000.000 fine by: Step 1) creating fiat money as a loan to themselves. Step 2) turn the loan in a derivate like a security Step 3) sell the security to the FED for $920.000.000 with a negative interest Step 4) be laughing all the way to the bank Step 5) smirk: we are the bank.
What on earth is this mug talking about!? Why does he want us to think that 900m is a meaningful penalty? JPMorgan cleared 36.4 BILLION last year. This pathetic fine is less than a week & a half worth of earnings. In other words its about as meaningful as one of us getting a speeding ticket without loss of points or anything to stop us from continuing to drive as fast as we want. Actually JP would feel it EVEN LESS! They know who's in their pockets so, they'd never even raise a sweat. This is just business as usual. Pacifying the ignorant masses with a fake penalty & a little propaganda so they can get back to raping & pillaging uninterrupted.
I wonder if it's true that the fines are paid from the assets in the bank and not from the personal assets of the wrong-doers? It's crazy that anyone would say let's hope it doesn't happen again.
‘Spoofing’ means placing market moving buy or sell orders without any intention of actually closing the trade, a conspirator exploits the manipulated market after the price has been moved. Given the systemic corruption demonstrated regularly on the COMEX, this criminal activity is a regular revenue source for JPM & other major banks.
As one precious metals expert said, “The fine levied against JPMorgan would be equivalent to a donut shop being fined a dozen donuts.” So much for the impact of fining the “Big Guys”!!!
Its a joke mate. Theyve made ten times their fine, and theyre still alowed to trade metals. Unless theyre banned from trading metals theyle be back at it on monday morning
You are correct and this guy is a joke. He’s clearly talking off the playbook sheet. Any one of us that follow the PM markets know how small this fine is compared to how much they stole from PM investors. The whole thing is a sham, a scam and I’m looking forward to the day Truth and Justice rule. Some day these banksters will pay for their crimes.
@willia3r - you are correct! Thank goodness there is an afterlife where all wrongs will be made right! But you know, if we get just a little lucky, we might get to right these wrongs while we’re still here, so we can watch ’em suffer!!!!
@@PadKaPauDon't think so, last thing governments want is for people to start investing in an asset they have no control over, they want you tied into their fiat currency. So they will try to keep prices down by any means, so they will turn a blind eye to manipulation, but if precious metals become scarce and everyone wants physical that is a whole new ball game. I hope this is what happens.
Why do most people that follow Kitco and others assume spoofing is for downside prices? Spoofing, frontrunning, ghosting all manipulate prices both ways.
"There has always been these kind of mutterings of manipulation in the Gold Market" Common you can't act suprised by this. Everyone knows this was going on. It's even worse in the Silver Market. The Directors should be facing jail time as the fine is chump change after they made $$$Trillions.
What a joke that one entity has suppressed the natural liquid pricing of Gold. How many investors have JPMorgan effected negatively? Their Compliance and Audit departments should have found this years ago. All traders are trained annually for whistleblowing and nefarious activities such as spoofing.
Let me tell you Kitco its still happening and will continue until the system collapses. What should happen is published who is shorting and going long. This will make it clear who is spoofing
The price of Gold is holding. Sometimes higher, sometimes lower. But it holds between 1880$ and 1910$ an ounce. With all thei manipulation from these &%$holes it still recovers. lots of movement on trading charts and they cannot bring it down with the severity that they would like. There is shortage of Gold and Silver everywhere. Premiums are sky high and that is if you can find any to buy. It is getting worse everytime I look and buy. People are looking for safety in these metals and there is an increasing shortage. There will come a Time when they will not be able to stop the demand of public and investors. THINK OF THE HUGE PRICE SURGE THEN. We all know that Gold and Silver should be at lest twice or three times the current price. Our time will come. And remember IF YOU DONT HOLD IT YOU DONT OWN IT.
It should be 20 or 30 thousand. Whoopty do they allow you 18 or 19 hundred when it was 2000 over a decade ago. Gold moves backwards against inflation thanks to their manipulation.
When sanity returns to investors seeking to have delivery of their gold investments all at once, then the conspirators will be caught with their pants down.
One think I love about Kitco News and David as an interviewer, is that he asks every advisor or entrepreneur their view of gold or silver. Thanks David for fruitful and informative interviews.
Yes there are plenty of traders and executive management who deserve jail terms for these thousands of incidents of 'spoofing. If you and I did this we would be in jail already.
JPM manipulates Silver for major electronics market controls. I thought GS manipulates Gold markets. So JPM and GS tag-team the PM manipulations. These control Silver for all the Solar Panels, Computers, electronics and medical uses of Silver.
JPM and GS are co owners of the Federal Reserve, both are agents of the Rothschilds who are the real owner. So yeah, we exterminate them or they continue to do as they please.
All banks are crook. who you will believe? Every financial institution does manipulate its records. Hope you will agree, a thief is not declared thief until caught. Hp Morgan was caught, others could be hiding still.
I'm sorry, but this gentlemen they are interviewing in this video I knew was going to defend the established gold market systems as they are and when he talks about new regulations and protections for investors in the gold markets I really don't believe him. He is just reiterating what we already know and anyone who is treading so lightly on surface information is not trustworthy. Little will really change and I bet there are corporate players in the gold markets already cheating one way or another.
Not news. I have watched this since the early 90s. It is obvious then and now but no diffrent than stock market . Buy 10- 20 percent of your portfolio when it is low. Hide it and forget about it. If it ever does go up to where you need to unload , find something else low to invest your profit in.
What they should do about this Spoofing BS is charge them a 5% fee of the total order when they cancel it! That would make them think twice and give them a Spanking!
Any other institution would receive jail terms but not the big banks as they are protected by the government. A million dollar fine is small change to what profit they have main using corrupt trades. Only jail terms and stopping guilty banks from trading in the sector will ever stop it.
Why does the market get flooded with futures contracts on gold late on a Friday or before a holiday. This is how they keep the gold price artificially low and keep the USD from collapsing.
1 billion dollars is the cost of doing business for all these companies. Figure how much money they've made over all the yrs and IT IS a small amount. There has been proof now for years. The regulators have known about it, and the government is complicit. BUT the price of gold and silver does represent a threat to the global reserve currency. According to the gold reserve act the federal reserve act and ESF rules they can manipulate ANY market to maintain nations security. Can't fight it, but you can be prepared for the problems they've created.
920 million is insignificant. If an individual earned 100,000 the fine would be about $2700, this is an absolute joke - JP Morgan made 36.4 billion in 2019. The fine should have been 10 billion, with fines of all board members of 10 million, or 10% of net worth whichever is the higher, each with suspended jail time of 5 years if repeated ,and also both be non-deductible for tax purposes. $36.4 billion JPMorgan Chase reported record full-year profit of $36.4 billion for 2019, sending shares higher. The New York-based bank's earnings surged 12 percent from a year earlier as consumer loans and credit card spending increased in the community banking division, the company's largest, and bond-trading revenue surged.Jan 14, 2020
Can’t say it affected the price when the FBI thinks it did. Small group he cannot crucify the people he needs to trade his new stock. Everything and everyone is connected in this market and they can’t piss the banks off as they need them to finance their scheme.
FBI works for the bankers, c'mon man. You guys are so thick. FBI is a corporation, their purpose is to protect the crooked system from exposure to the slave class.
Thanks for this excellent expose.! But, more to the point, where are the handcuffs, the jail terms, the fearless judge who puts away the rich criminals who are fleecing the little people ?! Alas, like democracy , justice has gone down the tubes or been bought out! How can we continue to have faith in such a system?
These gangster companies so called old reputed firms should be imposed huge penalties and closedown along with the people behind this show be put behind bars
Platinum. So much rarer than all the precious metals and yet half the value. So dont ever listen to anybody mention rarity as a source for future price increase
The fine was a slap on the wrist. It’s just part of doing business. This will change nothing. No one was arrested. To stop this maybe a fine of 5 billion?
I think gold is probably down about 5% per year from its true price over the last 15 years or so, and silver probably closer to 10%. In other words, they're dirt cheap and massively undervalued, especially silver. Honestly it's only a matter of time until we see the real prices, even if it's not until people have requested so much physical silver that they literally run out. Better get some while dirt rivals its price.
peanuts to JPM. They manipulated silver much more than gold (with others). Been going on for a long time. They and others ( the true power brokers) will find other ways through the paper exchanges. The power of paper backed up by nothing. The power of unlimited margin power.
Paying 900 million while you bought at low prices and now have billions of profit in your basement because you bought physical. JP Morgan won absolutely.
Since every trader is doing it, it would be hard for anyone not doing it. That being said, the Feds did not take down the big bosses like Blythe Masters.
Crazy, if I had done spoofing, I would be in prison.
You family and friends
JP Morgan pays a $ 920.000.000 fine by:
Step 1) creating fiat money as a loan to themselves.
Step 2) turn the loan in a derivate like a security
Step 3) sell the security to the FED for $920.000.000 with a negative interest
Step 4) be laughing all the way to the bank
Step 5) smirk: we are the bank.
Bunch of thieves
The people you can't punish are in charge.
Just because they’re being fined doesn’t mean they’ll end up paying it. Furthermore this won’t stop them from doing it again and again.
Yes..still profitable.
They will probably find a way of writing it off as a business expense and pay nothing. It won't stop them
What on earth is this mug talking about!? Why does he want us to think that 900m is a meaningful penalty? JPMorgan cleared 36.4 BILLION last year. This pathetic fine is less than a week & a half worth of earnings. In other words its about as meaningful as one of us getting a speeding ticket without loss of points or anything to stop us from continuing to drive as fast as we want. Actually JP would feel it EVEN LESS! They know who's in their pockets so, they'd never even raise a sweat. This is just business as usual. Pacifying the ignorant masses with a fake penalty & a little propaganda so they can get back to raping & pillaging uninterrupted.
I wonder if it's true that the fines are paid from the assets in the bank and not from the personal assets of the wrong-doers? It's crazy that anyone would say let's hope it doesn't happen again.
@Vinz Daniloff They are doing it to Bitcoin too as we speak.
Why can't gold and silver investor sue them? The US is the nation of sueing everyone for everything, why not for this???
Be the person to start the class action lawsuit
The banks are untouchable.
At least the miners should go after them...
No real suit possible in an environment of a corrupt FBI/DOJ
‘Spoofing’ means placing market moving buy or sell orders without any intention of actually closing the trade, a conspirator exploits the manipulated market after the price has been moved. Given the systemic corruption demonstrated regularly on the COMEX, this criminal activity is a regular revenue source for JPM & other major banks.
As one precious metals expert said, “The fine levied against JPMorgan would be equivalent to a donut shop being fined a dozen donuts.” So much for the impact of fining the “Big Guys”!!!
Yup. Send a bunch of lead to JP Morgan HQ, by "air mail", extreme kinetic force.
Confiscate their banking licence. Lesson for banks.
Good ideas Shup down for 90 , days.will help.
Unfortunately our govt doesn't want metals to rise and compete against the dollar
They are still doing it. Don't kid yourself. The fine is nothing compared to what the banks are making.
Agreed .The executive, officers
Should go to. Jail.
Its a joke mate.
Theyve made ten times their fine, and theyre still alowed to trade metals.
Unless theyre banned from trading metals theyle be back at it on monday morning
Exactly what I was thinking. I guess they'll just consider fines as a cost of doing business.
You are correct and this guy is a joke. He’s clearly talking off the playbook sheet. Any one of us that follow the PM markets know how small this fine is compared to how much they stole from PM investors. The whole thing is a sham, a scam and I’m looking forward to the day Truth and Justice rule. Some day these banksters will pay for their crimes.
Well, the metals are going down again this week. Amazing in the face of this presidential election and it's implications on the country.
@@bigkennyboy3232 _"Some day these banksters will pay for their crimes."_
It wont be by the government, that much is certain...
@willia3r - you are correct! Thank goodness there is an afterlife where all wrongs will be made right!
But you know, if we get just a little lucky, we might get to right these wrongs while we’re still here, so we can watch ’em suffer!!!!
I find it interesting and I’m quite shocked that the miners don’t put forward a collective lawsuit against Convicted manipulators
Good point Hugo Christian.Are all miners together too small to fight against them ?
Eric Sprott commented it would be very difficult to win such a case, so he doesn't want to take it on, so can't see it happening.
Robin Dunn that’s the deal,unfortunately
ykshootraw x Hopefully the justice will happen
@@PadKaPauDon't think so, last thing governments want is for people to start investing in an asset they have no control over, they want you tied into their fiat currency. So they will try to keep prices down by any means, so they will turn a blind eye to manipulation, but if precious metals become scarce and everyone wants physical that is a whole new ball game. I hope this is what happens.
long jail time for crying out loud, only thing that works
Don't they help write the laws?
@@donh5794 We have a smart one here I see.
The fine means nothing only thing they understand is Jail and that’s we’re they should be
Aren't they manipulating the price for the US authorities in the first place? More importantly how long can they get away with it?
Why do most people that follow Kitco and others assume spoofing is for downside prices? Spoofing, frontrunning, ghosting all manipulate prices both ways.
This suggests the prices of metals do not reflect their true value and utility. This illegal scheming has effected all metals investors.
Yea. All metal investors should aquire a lawyer an put a class action law suit against JPM
$920 million is nothing to JP Morgan.
JP Moran made over $35 billion last year.
Will.. you been around long enough to know better. Tell the truth. I’m an outsider and conducted my own research to find the truth. The game is fixed
"There has always been these kind of mutterings of manipulation in the Gold Market" Common you can't act suprised by this. Everyone knows this was going on. It's even worse in the Silver Market. The Directors should be facing jail time as the fine is chump change after they made $$$Trillions.
What a joke that one entity has suppressed the natural liquid pricing of Gold. How many investors have JPMorgan effected negatively? Their Compliance and Audit departments should have found this years ago. All traders are trained annually for whistleblowing and nefarious activities such as spoofing.
They knew and didn't care and there year end bonuses helped keep there mouths shut.
It is way worse in the Silver Market.
Let me tell you Kitco its still happening and will continue until the system collapses. What should happen is published who is shorting and going long. This will make it clear who is spoofing
This has been driving Max Kaiser mad for years.
Jail terms for the CEO's would cure this, nothing short of that!
Meanwhile, stealing carries a huge penalty that includes jail time. Is this not theft? Even major theft?
The price of Gold is holding. Sometimes higher, sometimes lower. But it holds between 1880$ and 1910$ an ounce. With all thei manipulation from these &%$holes it still recovers. lots of movement on trading charts and they cannot bring it down with the severity that they would like. There is shortage of Gold and Silver everywhere. Premiums are sky high and that is if you can find any to buy. It is getting worse everytime I look and buy. People are looking for safety in these metals and there is an increasing shortage. There will come a Time when they will not be able to stop the demand of public and investors. THINK OF THE HUGE PRICE SURGE THEN. We all know that Gold and Silver should be at lest twice or three times the current price. Our time will come. And remember IF YOU DONT HOLD IT YOU DONT OWN IT.
It's easier to hide my crypto hard wallet than physical metals.
It should be 20 or 30 thousand. Whoopty do they allow you 18 or 19 hundred when it was 2000 over a decade ago. Gold moves backwards against inflation thanks to their manipulation.
this is why gold market doesn't have much moving in these few weeks?
When sanity returns to investors seeking to have delivery of their gold investments all at once, then the conspirators will be caught with their pants down.
Wow $920,000,000 fine. Was there a reason it was below $1billion?
they get a 8% discount if they pay it in full as opposed to in stages
Whoever liked my comment.... It was a joke lol
@@robertoh.20 It's not a joke
This is infomercial for an ETF disguised as information about gold
And why is the nature of the manipulation not out, in which ways has it been manipulated?
No one goes TO PRISON!!!! monumental NOTHING!!
Yup. Hang them and send a message.
It wasn't a fine, it was a Criminal Activity Tax.
One think I love about Kitco News and David as an interviewer, is that he asks every advisor or entrepreneur their view of gold or silver. Thanks David for fruitful and informative interviews.
So why invest in mining stocks at all if they're vulnerable to manipulation?
fine 900 mil but they profited 20 BILLION
Yes there are plenty of traders and executive management who deserve jail terms for these thousands of incidents of 'spoofing. If you and I did this we would be in jail already.
Finally a man with a clear style and and the ability to explain, past weeks proved sometimes differently...
JPM manipulates Silver for major electronics market controls. I thought GS manipulates Gold markets. So JPM and GS tag-team the PM manipulations. These control Silver for all the Solar Panels, Computers, electronics and medical uses of Silver.
JPM and GS are co owners of the Federal Reserve, both are agents of the Rothschilds who are the real owner. So yeah, we exterminate them or they continue to do as they please.
One Billion fine is a joke compared to the amount they would have earnt spoofing.
I won’t be banking with them or any associates. I’m very tired of crooks everywhere .
All banks are crook. who you will believe? Every financial institution does manipulate its records. Hope you will agree, a thief is not declared thief until caught. Hp Morgan was caught, others could be hiding still.
Bring a end to spoofing!!
AND THEY STILL HAVE THEIR COMMODITIES LICENSE LMAO
I'm sorry, but this gentlemen they are interviewing in this video I knew was going to defend the established gold market systems as they are and when he talks about new regulations and protections for investors in the gold markets I really don't believe him. He is just reiterating what we already know and anyone who is treading so lightly on surface information is not trustworthy. Little will really change and I bet there are corporate players in the gold markets already cheating one way or another.
It wasn't that nothing was found it was that nothing was done about it.
It's about time you reported on this. Mr. Diamond and crew belong in jail. They are a RICO cartel.
The spoofing is just fine tuning manipulations of the main manipulating.
Chump change for a bank of this size. Just throwing crumbs to keep the "peasants" quiet whilst the thieving continues.
So who is going to run COMEX now, Blackrock!? SMH !
The reason it leaked out is someone on the inside or multiple people got done over it's been going on for a very long time .
That fine is a joke
They should pay the fine in gold not in debt like JP Morgan always said.
Pay in gold!
So why doesn’t any of that fine money go to gold investors? You know the people who were wronged 🤔
Not news. I have watched this since the early 90s. It is obvious then and now but no diffrent than stock market . Buy 10- 20 percent of your portfolio when it is low. Hide it and forget about it. If it ever does go up to where you need to unload , find something else low to invest your profit in.
What they should do about this Spoofing BS is charge them a 5% fee of the total order when they cancel it! That would make them think twice and give them a Spanking!
Usually spoofing isnt really done anymore, they do multiple account trading , 1 buy 1 sell.
Interesting 🤔
If you tell me it's going to get worse it's not going to get any better now you know officially it's true
Everything is ‘fine’ guys - go back to sleep.
Any other institution would receive jail terms but not the big banks as they are protected by the government. A million dollar fine is small change to what profit they have main using corrupt trades. Only jail terms and stopping guilty banks from trading in the sector will ever stop it.
Smart interview again . Well done David. Thanks💋🇦🇺
Why does the market get flooded with futures contracts on gold late on a Friday or before a holiday. This is how they keep the gold price artificially low and keep the USD from collapsing.
1 billion dollars is the cost of doing business for all these companies. Figure how much money they've made over all the yrs and IT IS a small amount. There has been proof now for years. The regulators have known about it, and the government is complicit. BUT the price of gold and silver does represent a threat to the global reserve currency. According to the gold reserve act the federal reserve act and ESF rules they can manipulate ANY market to maintain nations security. Can't fight it, but you can be prepared for the problems they've created.
920 million is insignificant. If an individual earned 100,000 the fine would be about $2700, this is an absolute joke - JP Morgan made 36.4 billion in 2019. The fine should have been 10 billion, with fines of all board members of 10 million, or 10% of net worth whichever is the higher, each with suspended jail time of 5 years if repeated ,and also both be non-deductible for tax purposes.
$36.4 billion
JPMorgan Chase reported record full-year profit of $36.4 billion for 2019, sending shares higher. The New York-based bank's earnings surged 12 percent from a year earlier as consumer loans and credit card spending increased in the community banking division, the company's largest, and bond-trading revenue surged.Jan 14, 2020
It's happening all the time!
They have been doing this for years. 900 mil is just the cost of doing business. Slap on the wrist and onward team.
So basically these fines act only as the cost of trading. As long as they can make money breaking the rules, they will do it.
System is working as designed, by them.
Im sure JP Morgan was the only banksters do it..... Riiiiiiiiiiight 😒
If you they are doing this with gold they are doing it with stocks bonds, ETFs, everything.
Can’t say it affected the price when the FBI thinks it did. Small group he cannot crucify the people he needs to trade his new stock.
Everything and everyone is connected in this market and they can’t piss the banks off as they need them to finance their scheme.
FBI works for the bankers, c'mon man. You guys are so thick. FBI is a corporation, their purpose is to protect the crooked system from exposure to the slave class.
Can the injured parties file a class action suit against JP Morgan for their irreparable losses?
Thanks for this excellent expose.! But, more to the point, where are the handcuffs, the jail terms, the fearless judge who puts away the rich criminals who are fleecing the little people ?!
Alas, like democracy , justice has gone down the tubes or been bought out! How can we continue to have faith in such a system?
they should just get closed down.
They should remove their right to invest for 90 days cannot buy or sell
Firing squad.
Is manipulation still happening?
These gangster companies so called old reputed firms should be imposed huge penalties and closedown along with the people behind this show be put behind bars
just a advertisment for ETF no real jp morgan news video
Gold Terra, Enduro, Northern Vertex, Golden Minerals, Discovery Metals
There are more ads and less valuable videos.
Manipulating markets has been the normal for decades.
funny how market went up after they had to pay all that money. They will find another way to manipulate the market.
Where can you buy insurance coverage for your gold and silver?
they do not give a billion $ fine for spoofing .............thats just what they agreed to ......give me a break
Another excellent vid Dave. But Cathie Wood at ARK said hydrogen is 5X cost of EV . Seems not likely the key for platinum...
All that ill gotten gain should have been the fine plus 10B fine......
Pocket change to JPM.
How was the $920M fine amount determined? Is that 10% or 100% of the money made from fraudulent activities (spoofing)?
It's always manipulated. All indexes ,all markets. Jp and the feds.
Platinum. So much rarer than all the precious metals and yet half the value. So dont ever listen to anybody mention rarity as a source for future price increase
The fine was a slap on the wrist. It’s just part of doing business. This will change nothing. No one was arrested. To stop this maybe a fine of 5 billion?
big Cahuna
Your right. Good guys lose bad guys win ! That seems to be the norm today?
Amazing, I’ve know about their manipulation for years, only getting caught now? I’m a nurse not a trader. What is wrong with this picture?
Gold 🥇going ☁️up☁️🚀🚀🚀🧑🚀save your Gold now👏👍👍
Not only them
I think gold is probably down about 5% per year from its true price over the last 15 years or so, and silver probably closer to 10%. In other words, they're dirt cheap and massively undervalued, especially silver. Honestly it's only a matter of time until we see the real prices, even if it's not until people have requested so much physical silver that they literally run out. Better get some while dirt rivals its price.
Mass production of hydrogen has a reliance upon electricity
FEB 1 /2021 --- WE WILL HAVE OUR RETRIBUTION!!! call the slv bluff, buy and hold!
First Train to run by Hydrogen in the UK yesterday...
peanuts to JPM. They manipulated silver much more than gold (with others). Been going on for a long time. They and others ( the true power brokers) will find other ways through the paper exchanges. The power of paper backed up by nothing. The power of unlimited margin power.
End the Fed!
Paying 900 million while you bought at low prices and now have billions of profit in your basement because you bought physical. JP Morgan won absolutely.
Since every trader is doing it, it would be hard for anyone not doing it. That being said, the Feds did not take down the big bosses like Blythe Masters.
do we now get our lost currency and profits????
copper, platinum Ivanhoe mines. I currently don't have a position, long or short.
Where is the story where XOM has cut their dividend?
The rich and powerful are normally judged differently from peasants
The judges are beholden to them as well, learn the truth about our legal system.