It is hard to understate the regulatory failure of allowing JPMorgan Chase to continue to have this outsized presence in the precious metals derivatives market…
JPMorgan Makes $1B from Gold Trading After Paying $1B Fine for Manipulating Gold Trading…
The math simplified: JPM has spent $1 billion over the lifetime of its precious metals rigging, ensuring it has full indemnity from future manipulation claims, allowing allow it to make $1 billion in revenue in just one year…
Gold: $1500…
Gold prices on Wednesday jumped above an important psychological level at $1,500 amid a round of easy-money policies that helped to stoke fresh appetite for the perceived safety of precious metals. The 10-year U.S. Treasury note’s TMUBMUSD10Y, -4.93% fall to new lows not seen since 2016 below 1.7%, also helped to drive demand for bullion. […]
The Mnuchin Massacre: Precious Metals Surge Amid Dollar’s Worst Start in 30 Years…
The Dollar was smashed with the ugly-stick today as Mnuchin’s comments sparked chaos in FX markets… and as precious metals surged and bond yields jumped… and stocks actually sank (briefly)… we were reminded by the mainstream media that a falling dollar is great for ‘Murica so buy the dip in stocks with all your money […]
Global Stocks Hit New All Time High as Dollar Rebounds; Europe Volatile on Earnings Deluge…
The levitation continues with S&P futures pointing to – what else – another higher open while European stocks swung between gains and losses on the busiest earnings days of the year (85 of the Stoxx 600 report) which has seen European pharma giant AstraZeneca plunge 15%, the most on record, after its flagship lung cancer […]
We Inflate Assets and Crush People…
As a reminder there will be an option expiration for the precious metals on the Comex tomorrow. The Fed’s minutes were released today. They showed a bias to raising rates in June if the recent economic weakness proved to be transitory. The question of the Fed’s changing their benchmark interest rate is probably a little […]
Stocks and Precious Metals Charts – Paper, Numbers, and Dreams…
“The money was all appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover was an engineer. He knew that water trickled down. Put it uphill and let it go and it will reach the driest little spot. But he didn’t know that money trickled up. Give it […]
Greenspan Endorses the Gold Standard…
In his remarkable essay, “Gold and Economic Freedom,” written in 1966, Alan Greenspan stated: Under a gold standard, the amount of credit that an economy can support is determined by the economy’s tangible assets, since every credit instrument is ultimately a claim on some tangible asset. But government bonds are not backed by tangible wealth, […]
Stocks and Precious Metals Charts – Don’t Lie To Yourself…
Deutsche Bank Pays $60 Million To Settle Gold-Manipulation Lawsuit…
2016 is shaping up as the year when countless conspiracy theories will be confirmed to be non-conspiracy fact: from central bank rigging of capital markets, to political rigging of elections, to media rigging of public sentiment, and now, commercial bank rigging of both silver and gold…