Dominoes Falling at Big Banks That Rigged Precious Metals Markets

Dominoes Falling at Big Banks That Rigged Precious Metals Markets By Clint Siegner The crooked precious metals trading department at JPMorgan Chase lost another man last week. Christian Trunz pleaded guilty to criminal “spoofing” of the markets and resigned from his position as an Executive Director with the bank. The story mirrors that of John Edmonds, the Chase banker who pleaded guilty last October for rigging gold and silver prices. Like Edmonds’ illicit trading activity, Trunz’s was pervasive. It spanned nearly a decade – from 2007 through 2016 – and…

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Stocks vs. Gold: Some Little-Known Facts

Stocks vs. Gold: Some Little-Known Facts By Clint Siegner The gold and silver markets rarely get much love on Wall Street and from the average investors who only listen attentively to what CNBC and stock brokers have to say. Nearly a decade of underperformance in the metals markets certainly isn’t helping draw attention. Recently, the gold market started to move, and the rising price has thus far gone mostly unnoticed. Everyone is watching the equity markets continue the surge higher that began the day after Christmas. Investors who wonder how…

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Perfect Storm Brewing for Price Inflation

Perfect Storm Brewing for Price Inflation By Clint Siegner A “perfect storm” is brewing for Midwestern farmers. Unending rains have led to the flooding of tens of millions of acres of farmland. The deluge comes on the heels of years of low crop prices. It has the makings of an agriculture disaster on a scale never seen before. The nation may see a “perfect storm” in terms of food inflation. Prices for some farm commodities figure to be a lot higher in the months ahead as markets adjust to dramatically…

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Precious Metals Market Rigger Turns State’s Evidence

Precious Metals Market Rigger Turns State’s Evidence By Clint Siegner John Edmonds, a former vice president at JPMorgan Chase bank, may be headed to prison for cheating clients and investors. But metals investors can hope it won’t be before he is done helping federal investigators catch even bigger fish. Edmonds pleaded guilty to spoofing precious metals markets “hundreds of times with the knowledge and consent of his immediate supervisors” last October. The court delayed sentencing for those crimes again last week, and that is a very good sign. The move…

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A Look Inside the Scheme to Eliminate Cash, Impose Negative Interest

A Look Inside the Scheme to Eliminate Cash, Impose Negative Interest By Clint Siegner Central bankers and politicians love inflation, but they need “bag holders” to have faith in the value of the fiat currency IOUs they hold. The trick is to avoid suddenly destroying the ephemeral confidence in currencies by printing too much too fast. Central bankers may also need to limit the options inflation wary citizens have for escaping. They are both shifty and innovative when it comes to making sure the ill effects of perpetually devaluing currency…

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Fake Markets and Return of the “Plunge Protection Team”

Fake Markets and Return of the “Plunge Protection Team” By Clint Siegner It’s amazing what passes as a market these days. Stocks rallied during the Christmas week, and the mainstream financial press would like you to believe bargain hunters swooped in after the weeks of heavy selling to grab some deals. The truth is there are very few actual people still evaluating the merits of publicly traded companies. The markets are driven by programmed trading and central planning. The artificial nature of markets was on full display last week. Let’s…

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Will 2019 Bring a Free and Fair Gold & Silver Market?

Will 2019 Bring a Free and Fair Gold & Silver Market? By Clint Siegner JPMorgan Chase and a number of other bullion banks are in a whole lot of trouble. Evidence detailing years of rigging markets and swindling clients is piling up. Deutsche Bank pleaded guilty two years ago and forked over hundreds of thousands of documents. John Edmonds, a former JPMorgan trader, entered his own guilty plea last month and turned state’s evidence. The carefully cultivated system of captured regulators may not help the banks this time. FBI investigators…

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JPMorgan Chase Trader Pleads Guilty to Gold Manipulation, Turns State’s Evidence

JPMorgan Chase Trader Pleads Guilty to Gold Manipulation, Turns State’s Evidence By Clint Siegner Gold and silver investors got a rare bit of good news on the enforcement front last week. A trader from JPMorgan Chase pled guilty to rigging the precious metals futures markets. John Edmonds admitted to cheating the bank’s clients and plenty of other people naive enough to expect fair treatment on the COMEX and other exchanges. While this is by no means the first time a banker has been caught cheating, some aspects of this case…

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Sadly, Sound Money ISN’T on the Ballot

Sadly, Sound Money ISN’T on the Ballot By Clint Siegner Americans will be headed to the polls to cast ballots in the midterm elections. Polling suggests that Democrats will return to power in the House of Representatives. Republicans are favored to hold on to the Senate. However, political polls have proven less than reliable. There are plenty of people expecting a surprise once the votes are counted. But there are many policies that won’t change regardless of who holds Congressional power come Wednesday. For starters, we can count on the…

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The Federal Reserve: Secretly Sticking It To Americans For Over 100 Years

The Federal Reserve: Secretly Sticking It To Americans For Over 100 Years By Clint Siegner In the aftermath of the 2008 Financial Crisis, the private Federal Reserve bank cartel was front and center as a target for public outrage. Former U.S. Congressman Ron Paul’s “End the Fed” message suddenly resonated. Americans hated Fed officials bailing out the banksters – richly rewarding them for crooked and irresponsible behavior which helped create the crisis. But years have passed. Americans have been enjoying the expansion stage of the next great bubble. The central…

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