AN EXPLANATION OF THE FACTIONS  
 

[ DONATE TO RMN ] [ View Thread ] [ Archive Search Page ] [ RMN Reading Room ] [ CGI Media News Room ] [ SUBSCRIBE TO RMN ]

RMN is Reader Supported

Our Goal for
MAR 6 - APR 5:
$1,500

Powered by FundRazr

Click Widget
or Click Here to contribute.

Checks & Money Orders:

Raye Allan Smith
P.O. Box 95
Ashtabula, OH 44005


Users Online:
79

Who Founded RMNews?


Dewitt Jones' Video
"Celebrate What's Right
With The World"


"When the
Starships Fly!"

Listen at YouTube


The Theme for The Obergon Chronicles

Listen at YouTube


The Obergon Chronicles ebook


RUMOR MILL
NEWS RADIO


CGI ROOM
Common Ground
Independent Media


WHAT ARE
THE FACTIONS?


THE AMAZING
RAYELAN ALLAN


BIORHYTHMS

LOTTO PICKS

OTHER WAYS TO DONATE





RUMOR MILL NEWS AGENTS WHO'VE BEEN INTERVIEWED ON RUMOR MILL NEWS RADIO

______________

NOVEMBER 2008

Kevin Courtois - Kcbjedi
______________

Dr Robin Falkov

______________

Melinda Pillsbury Hr1

Melinda Pillsbury Hr2

______________

Daneen Peterson

______________

Daneen Peterson

______________

Disclosure Hr1

Disclosure Hr2
______________

Scribe
______________

in_PHI_nitti
______________

Jasmine Hr1
Jasmine Hr2
______________

Tom Chittum Hr1
Tom Chittum Hr2
______________

Kevin Courtois
______________

Dr Syberlux
______________

Gary Larrabee Hr1
Gary Larrabee Hr2
______________

Kevin Courtois
______________

Pravdaseeker Hr1
Pravdaseeker Hr2
______________

DECEMBER 2008

Tom Chittum
______________

Crystal River
______________

Stewart Swerdlow Hr1
Stewart Swerdlow Hr2
______________

Janet Swerdlow Hr1
Janet Swerdlow Hr2
______________

Dr. Robin Falkov Hr1
Dr. Robin Falkov Hr2
Dr. Robin Falkov Hr3

JANUARY 2009 ______________

Patriotlad
______________

Patriotlad
______________

Crystal River
______________

Patriotlad
______________

Dr. Robin Falcov
______________

Patriotlad

FEBRUARY 2009

Find UFOs, The Apocalypse, New World Order, Political Analysis,
Alternative Health, Armageddon, Conspiracies, Prophecies, Spirituality,
Home Schooling, Home Mortgages and more, in:

Rumor Mill News Reading Room, Current Archive

JPMorgan Chase Confirmed as Target of Metals Price Rigging Prosecution

Posted By: RumorMail
Date: Saturday, 9-Jan-2021 07:27:41
www.rumormill.news/140496

Clint Siegner
February 10th, 2020

The U.S. Department of Justice investigation of criminal activity in the precious metals markets has taken an interesting new turn.

According to Bloomberg, prosecutors are targeting the bank itself and not just the individual traders involved in rigging prices. If convicted, the bank as an institution could be held accountable for years of structured and pervasive cheating.

The DOJ investigation of JPMorgan’s metals trading desk began more than two years ago. It came on the heels of a guilty plea by Deutsche Bank.

Deutsche Bank copped to spoofing prices and agreed to turn state’s evidence. DB then handed over hundreds of thousands of pages of documents, along with chat logs and voice recordings which featured traders gleefully conspiring with one another to cheat clients and other market participants.

Officials used that trove of information and other evidence to charge six JPMorgan traders with crimes. Some already pleaded guilty and made their own agreements to cooperate with the larger investigation.

But last week’s revelations from Bloomberg are the first confirmation that the megabank is itself in the crosshairs.

Bank of America followed Deutsche Bank’s lead and moved to settle charges. The company paid fines and promised internal reforms. Many expect the extraordinarily well-connected JPMorgan Chase & Co will be granted similar leniency.

There is one interesting distinction in the DOJ’s handling of the bank, however. Officials have charged JPMorgan traders using RICO laws.

The implication is that the bank itself is to be treated as a criminal enterprise. Perhaps this time company executives will not be able to convince investigators the bank is an honest institution with the simple misfortune of having rogue criminal traders among its ranks.

JPMorgan deserves to get more than a slap on the wrist.

For many involved in the metals markets, it has been obvious for years that JPMorgan is at the center of a program to rig gold and silver prices. These cries were long dismissed as a conspiracy theory. Today few can dispute there has been pervasive, well-orchestrated cheating over nearly a decade, if not much longer.

We now know at least some officials inside the Department of Justice agree. They view the bank’s activities as organized crime, like the mafia.

It remains to be seen whether actual charges will be brought against the bank. So far, only individuals have been charged. Given the bank’s power and influence, there is no certainty justice will prevail, even if the evidence is overwhelming.

Finally, there is no certainty as to whether any penalties will be commensurate with the crime. Individual criminals on Wall Street may have been banned from trading and bankrupted by fines. However, it would be unprecedented for a bank the size of JPMorgan to receive a trading ban or fines large enough to meaningfully impact the bank’s operations.

The road to full accountability for JPMorgan remains long and full of obstacles. But it is certainly nice to see prosecutors treating the bank without the usual kid gloves.

Portfolio Wealth Global | The Top 1% are Blowing-Up in Wealth!
JPMorgan Chase Confirmed as Target of Metals Price Rigging Prosecution

Clint Siegner
February 10th, 2020
Activist Post
Comments (4)

This article was originally published by Clint Siegner at Activist Post.

The U.S. Department of Justice investigation of criminal activity in the precious metals markets has taken an interesting new turn.

According to Bloomberg, prosecutors are targeting the bank itself and not just the individual traders involved in rigging prices. If convicted, the bank as an institution could be held accountable for years of structured and pervasive cheating.

The DOJ investigation of JPMorgan’s metals trading desk began more than two years ago. It came on the heels of a guilty plea by Deutsche Bank.

Deutsche Bank copped to spoofing prices and agreed to turn state’s evidence. DB then handed over hundreds of thousands of pages of documents, along with chat logs and voice recordings which featured traders gleefully conspiring with one another to cheat clients and other market participants.

Officials used that trove of information and other evidence to charge six JPMorgan traders with crimes. Some already pleaded guilty and made their own agreements to cooperate with the larger investigation.

But last week’s revelations from Bloomberg are the first confirmation that the megabank is itself in the crosshairs.

Bank of America followed Deutsche Bank’s lead and moved to settle charges. The company paid fines and promised internal reforms. Many expect the extraordinarily well-connected JPMorgan Chase & Co will be granted similar leniency.

There is one interesting distinction in the DOJ’s handling of the bank, however. Officials have charged JPMorgan traders using RICO laws.

The implication is that the bank itself is to be treated as a criminal enterprise. Perhaps this time company executives will not be able to convince investigators the bank is an honest institution with the simple misfortune of having rogue criminal traders among its ranks.

JPMorgan deserves to get more than a slap on the wrist.

For many involved in the metals markets, it has been obvious for years that JPMorgan is at the center of a program to rig gold and silver prices. These cries were long dismissed as a conspiracy theory. Today few can dispute there has been pervasive, well-orchestrated cheating over nearly a decade, if not much longer.

We now know at least some officials inside the Department of Justice agree. They view the bank’s activities as organized crime, like the mafia.

It remains to be seen whether actual charges will be brought against the bank. So far, only individuals have been charged. Given the bank’s power and influence, there is no certainty justice will prevail, even if the evidence is overwhelming.

Finally, there is no certainty as to whether any penalties will be commensurate with the crime. Individual criminals on Wall Street may have been banned from trading and bankrupted by fines. However, it would be unprecedented for a bank the size of JPMorgan to receive a trading ban or fines large enough to meaningfully impact the bank’s operations.

The road to full accountability for JPMorgan remains long and full of obstacles. But it is certainly nice to see prosecutors treating the bank without the usual kid gloves.

Clint Siegner is a Director at Money Metals Exchange, a precious metals dealer recently named “Best in the USA” by an independent global ratings group. A graduate of Linfield College in Oregon, Siegner puts his experience in business management along with his passion for personal liberty, limited government, and honest money into the development of Money Metals’ brand and reach. This includes writing extensively on the bullion markets and their intersection with policy and world affairs.

Read More



RMN is an RA production.

Articles In This Thread

JPMorgan Chase Confirmed as Target of Metals Price Rigging Prosecution
RumorMail -- Saturday, 9-Jan-2021 07:27:41
White House Budget Games
RumorMail -- Saturday, 9-Jan-2021 07:27:41
Expect “Cascading Global Impact” As Coronavirus Causes Massive Manufacturing Disruptions Worldwide
RumorMail -- Saturday, 9-Jan-2021 07:27:41
Reader: The reason for J.P.Morgan's rigging of the gold market via the U.S. Treasury is to keep the dollar strong
RumorMail -- Saturday, 9-Jan-2021 07:27:41

The only pay your RMN moderators receive
comes from ads.
If you're using an ad blocker, please consider putting RMN in
your ad blocker's whitelist.


Serving Truth and Freedom
Worldwide since 1996
 
Politically Incorrect News
Stranger than Fiction
Usually True!


Powered
by FundRazr
Click Widget
or Click Here to contribute.


Organic Sulfur 4 Health

^


AGENTS WEBPAGES

Provided free to RMN Agents

Organic Sulfur 4 Health

^


AGENTS WEBPAGES

Provided free to RMN Agents



[ DONATE TO RMN ] [ View Thread ] [ Archive Search Page ] [ RMN Reading Room ] [ CGI Media News Room ] [ SUBSCRIBE TO RMN ]

Rumor Mill News Reading Room, Current Archive is maintained by Forum Admin with WebBBS 5.12.

If you can't find what you're looking
for using our RMN search, try the DuckDuckGo search below:


AN EXPLANATION OF THE FACTIONS