Gold price manipulation is real; JPMorgan’s spoofing case explained

[@ReinierMayer]

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.

[@catcar9157]

Bunch of thieves

[@rickstalentedtongue910]

The people you can't punish are in charge.

[@laj1452]

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.

[@glove7786]

Yes..still profitable.

[@dlew3624]

They will probably find a way of writing it off as a business expense and pay nothing. It won't stop them

[@richarddebono7092]

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.

[@donh5794]

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.

[@mikhelBrown]

@Vinz Daniloff They are doing it to Bitcoin too as we speak.

[@geneshepherd9393]

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

[@allanliang2799]

Exactly what I was thinking. I guess they'll just consider fines as a cost of doing business.

[@bigkennyboy3232]

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.

[@hightonesdrifterkent6600]

Well, the metals are going down again this week. Amazing in the face of this presidential election and it's implications on the country.

[@willia3r]

@@bigkennyboy3232 _"Some day these banksters will pay for their crimes."_ It wont be by the government, that much is certain...

[@bigkennyboy3232]

@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!!!!

[@silverado611]

They are still doing it. Don't kid yourself. The fine is nothing compared to what the banks are making.

[@richardlee7104]

Agreed .The executive, officers Should go to. Jail.

[@donkalzone6671]

Why can't gold and silver investor sue them? The US is the nation of sueing everyone for everything, why not for this???

[@sleepytmk]

Be the person to start the class action lawsuit

[@quentonschneider9166]

The banks are untouchable.

[@jefflamb5218]

At least the miners should go after them...

[@bigbrotherisviolatingconst6794]

No real suit possible in an environment of a corrupt FBI/DOJ

[@bigbrotherisviolatingconst6794]

‘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.

[@davenevarez4738]

Crazy, if I had done spoofing, I would be in prison.

[@jolee2433]

You family and friends

[@drichardson4622]

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”!!!

[@gfcardi]

Yup. Send a bunch of lead to JP Morgan HQ, by "air mail", extreme kinetic force.

[@georgegomezgomez4704]

Confiscate their banking licence. Lesson for banks.

[@richardlee7104]

Good ideas Shup down for 90 , days.will help.

[@sunglee8753]

Unfortunately our govt doesn't want metals to rise and compete against the dollar

[@anthonyheslop5336]

The fine means nothing only thing they understand is Jail and that’s we’re they should be

[@hugochristian7621]

I find it interesting and I’m quite shocked that the miners don’t put forward a collective lawsuit against Convicted manipulators

[@PadKaPau]

Good point Hugo Christian.Are all miners together too small to fight against them ?

[@robindunn4493]

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.

[@PadKaPau]

Robin Dunn that’s the deal,unfortunately

[@PadKaPau]

ykshootraw x Hopefully the justice will happen

[@robindunn4493]

@@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.

[@razorgarf]

long jail time for crying out loud, only thing that works

[@donh5794]

Don't they help write the laws?

[@rickstalentedtongue910]

@@donh5794 We have a smart one here I see.

[@ronananderson]

Aren't they manipulating the price for the US authorities in the first place? More importantly how long can they get away with it?

[@Ryan_Tinney]

Why do most people that follow Kitco and others assume spoofing is for downside prices? Spoofing, frontrunning, ghosting all manipulate prices both ways.

[@RiseAgainst38]

This suggests the prices of metals do not reflect their true value and utility. This illegal scheming has effected all metals investors.

[@johnwhitneykokalis9990]

Yea. All metal investors should aquire a lawyer an put a class action law suit against JPM

[@bennettcain635]

"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.

[@billkats5432]

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

[@ratoneJR]

$920 million is nothing to JP Morgan. JP Moran made over $35 billion last year.

[@jagprototype8003]

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

[@RiseAgainst38]

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.

[@johnwhitneykokalis9990]

They knew and didn't care and there year end bonuses helped keep there mouths shut.

[@bennettcain635]

It is way worse in the Silver Market.

[@psalmsreader7997]

Meanwhile, stealing carries a huge penalty that includes jail time. Is this not theft? Even major theft?

[@fitnesspoint2006]

fine 900 mil but they profited 20 BILLION

[@deansamons1438]

Jail terms for the CEO's would cure this, nothing short of that!

[@luisgarciab]

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.

[@alnl1952]

It's easier to hide my crypto hard wallet than physical metals.

[@rickstalentedtongue910]

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.

[@Kerath]

It wasn't a fine, it was a Criminal Activity Tax.

[@robotarchie100]

This has been driving Max Kaiser mad for years.

[@chriseustace9734]

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.

[@limsteven7944]

this is why gold market doesn't have much moving in these few weeks?

[@razorgarf]

And why is the nature of the manipulation not out, in which ways has it been manipulated?

[@evenbiggeral5089]

Wow $920,000,000 fine. Was there a reason it was below $1billion?

[@robertoh.20]

they get a 8% discount if they pay it in full as opposed to in stages

[@robertoh.20]

Whoever liked my comment.... It was a joke lol

[@donh5794]

@@robertoh.20 It's not a joke

[@boomshakalaka8655]

funny how market went up after they had to pay all that money. They will find another way to manipulate the market.

[@alfredepding974]

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.

[@desiebawden61]

I won’t be banking with them or any associates. I’m very tired of crooks everywhere .

[@softtestba6675]

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.

[@the_real_economics]

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.

[@rickstalentedtongue910]

System is working as designed, by them.

[@Carlos-im3hn]

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.

[@rickstalentedtongue910]

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.

[@larrymoser6455]

This is infomercial for an ETF disguised as information about gold

[@josephmallozzi9491]

So why invest in mining stocks at all if they're vulnerable to manipulation?

[@map2fx20]

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 .

[@houmanmilani]

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.

[@roilhead]

One Billion fine is a joke compared to the amount they would have earnt spoofing.

[@josecarlosxyz]

That fine is a joke They should pay the fine in gold not in debt like JP Morgan always said. Pay in gold!

[@revpgesqredux]

The spoofing is just fine tuning manipulations of the main manipulating.

[@billpbritt]

It wasn't that nothing was found it was that nothing was done about it.

[@imeldomarcos4126]

Usually spoofing isnt really done anymore, they do multiple account trading , 1 buy 1 sell.

[@chr1staki]

Interesting 🤔

[@Just_An_Idea_For_Consideration]

Where can you buy insurance coverage for your gold and silver?

[@lalaha4241]

Finally a man with a clear style and and the ability to explain, past weeks proved sometimes differently...

[@ultrabaron]

Is manipulation still happening?

[@baddna1024]

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!

[@RavenRaven-se6lr]

Smart interview again . Well done David. Thanks💋🇦🇺

[@rain4rusty]

It's about time you reported on this. Mr. Diamond and crew belong in jail. They are a RICO cartel.

[@gasdorficmuncher9943]

just a advertisment for ETF no real jp morgan news video

[@alertandconcerned8708]

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?

[@marciamenage931]

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

[@zero-point3930]

Chump change for a bank of this size. Just throwing crumbs to keep the "peasants" quiet whilst the thieving continues.

[@alfredepding974]

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.

[@Michael-qy1jz]

No one goes TO PRISON!!!! monumental NOTHING!!

[@gfcardi]

Yup. Hang them and send a message.

[@robindunn4493]

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.

[@jdom01354]

So who is going to run COMEX now, Blackrock!? SMH !

[@kimbathewhitelion8985]

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.

[@CodingAbroad]

So why doesn’t any of that fine money go to gold investors? You know the people who were wronged 🤔

[@scsmith4604]

If you they are doing this with gold they are doing it with stocks bonds, ETFs, everything.

[@TonyL-gw4qx]

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.

[@rickstalentedtongue910]

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.

[@singaporeghostclub]

Everything is ‘fine’ guys - go back to sleep.

[@jenpsakiscousin4589]

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.

[@j.j.5216]

They should remove their right to invest for 90 days cannot buy or sell

[@gfcardi]

Firing squad.

[@laurakryzanowski3193]

Can the injured parties file a class action suit against JP Morgan for their irreparable losses?

[@MrBoxer1200]

They have been doing this for years. 900 mil is just the cost of doing business. Slap on the wrist and onward team.

[@bycracky22]

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.

[@davidsyw1]

How was the $920M fine amount determined? Is that 10% or 100% of the money made from fraudulent activities (spoofing)?

[@KIMMsTV]

There are more ads and less valuable videos.

[@rogain662]

Manipulating markets has been the normal for decades.

[@Lenny1337i]

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.

[@map2fx20]

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

[@dubaikk]

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

[@vui588]

they should just get closed down.

[@brandonnel4081]

Bring a end to spoofing!!

[@oscarmike4596]

Another excellent vid Dave. But Cathie Wood at ARK said hydrogen is 5X cost of EV . Seems not likely the key for platinum...

[@DuBmonkey4]

AND THEY STILL HAVE THEIR COMMODITIES LICENSE LMAO

[@mattonm]

It's happening all the time!

[@buddythelittletinyrescuedo5114]

Gold Terra, Enduro, Northern Vertex, Golden Minerals, Discovery Metals

[@TheDougWay]

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.

[@estring123]

when did exxon cut div?

[@flyguy1637]

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?

[@flyguy1637]

big Cahuna Your right. Good guys lose bad guys win ! That seems to be the norm today?

[@mutantryeff]

Mass production of hydrogen has a reliance upon electricity

[@jockojohn3294]

All that ill gotten gain should have been the fine plus 10B fine......

[@qwertyasfdfg]

It's always manipulated. All indexes ,all markets. Jp and the feds.

[@chongisTiberius]

FEB 1 /2021 --- WE WILL HAVE OUR RETRIBUTION!!! call the slv bluff, buy and hold!

[@erharddinges8855]

The fine for spoofing so long has been calculated in already. It will continue.

[@phatster88]

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.

[@SirWigSplitter]

Im sure JP Morgan was the only banksters do it..... Riiiiiiiiiiight 😒

[@jakeleslie4766]

they do not give a billion $ fine for spoofing .............thats just what they agreed to ......give me a break

[@jenc2365]

The rich and powerful are normally judged differently from peasants

[@rickstalentedtongue910]

The judges are beholden to them as well, learn the truth about our legal system.

[@CaribSurfKing1]

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

[@jenpsakiscousin4589]

Paul Craig Roberts has been showing us who and how they do it for over a decade now.

[@Fredrikwatchesandartwork]

Gold 🥇going ☁️up☁️🚀🚀🚀🧑‍🚀save your Gold now👏👍👍

[@richardlouro5603]

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.

[@AzriRich88]

Very Informative video!

[@rogerhalt3991]

Why am I not surprised. Like the 2008 Goldman Sachs debacle, it doesn’t even raise my eyebrows.

[@SportsIncorporated]

copper, platinum Ivanhoe mines. I currently don't have a position, long or short.

[@John-FourteenSix]

First Train to run by Hydrogen in the UK yesterday...

[@rogain662]

The fine is a jokingly low especially when they made profits thirty times over.