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

Ohio Prohibits Migrants from Voting

The federal government of the United States has been compromised. It is now up to the states to defend our right to free elections and implement laws to prohibit non-citizens [...]
Read more

US Consumer Sentiment Reaches 6-Month Low

Consumer sentiment is continuing its decline amongst Americans. The University of Michigan’s survey monthly survey revealed sentiment fell to a six-month low of 67.4 in May, down from 77.2 in [...]
Read more

Correlations Explained

It is crucial to understand correlations as EVERYTHING fluctuates! There is absolutely nothing that remains constant. You MUST understand that correlations are NOT one for one, and often show changes in advance of turns. [...]
Read more