Precious Metals Desk at JP Morgan Criminally Charged

The precious metals Desk at JP Morgan Chase on September 16, 2019, was criminally charged by the U.S. Department of Justice with being a criminal enterprise for approximately eight years in its manipulation of the prices of gold, silver, and other precious metals. The head of that desk and two other precious metals traders were charged with racketeering under the RICO statute which was originally passed to target organized crime.

The Justice Department said that the traders and their co-conspirators “conducted the affairs of the desk through a pattern of racketeering activity, specifically, wire fraud affecting a financial institution and bank fraud.”

 

Latest Posts

Capital Flow & Flight to Quality?

QUESTION: A recent analysis by Allianz economists claimed that, ordinarily, when yields on Treasuries rise, the U.S. dollar strengthens as foreign capital pursues those higher yields. However, the dollar weakened as [...]
Read more

The Fate of Europe & the Euro

This report covers the fate of Europe and the currency. What this report also does is dive deep into what the European Union is preparing to fund its war through [...]
Read more

Europe & the Future – Institutional Report

Our Institutional Report covering all of Europe’s individual countries, with their forecasts generally out to 2032, has been a monumental effort. We greatly appreciate your patience, but this is vital [...]
Read more

Market Talk – April 24, 2025

ASIA: The major Asian stock markets had a mixed day today: • NIKKEI 225 increased 170.52 points or 0.49% to 35,039.15 • Shanghai increased 0.93 points or 0.03% to 3,297.29 [...]
Read more