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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New Federal Legislation Requires Full Audit of America’s Gold Reserves

New Federal Legislation Requires Full Audit of America’s Gold Reserves Washington, DC (May 8, 2019) – U.S. Representative Alex Mooney (R-WV) introduced legislation this week to provide for the first audit of United States gold reserves since the Eisenhower Administration. The Gold Reserve Transparency Act (H.R. 2559) – backed by the Sound Money Defense League and government accountability advocates – directs the Comptroller of the United States to conduct a “full assay, inventory, and audit of all gold reserves, including any gold in ‘deep storage,’ of the United States at…

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West Virginia Joins Growing Sound Money Movement — Six Other States Now Weighing Their Own Bills to End Taxes on Gold & Silver

West Virginia Joins Growing Sound Money Movement — Six Other States Now Weighing Their Own Bills to End Taxes on Gold & Silver By Jp Cortez Before the ink could even dry on West Virginia Governor Jim Justice’s signature on a repeal of sales taxation on gold, silver, platinum, and palladium bullion and coins, legislators in Wisconsin and Maine introduced similar measures in their own states. All told, 39 states have now reduced or eliminated sales taxes on the monetary metals, and Wisconsin, Maine, Kansas, Arkansas, Minnesota, and Tennessee are…

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Practical Prepping for Financial SHTF Scenarios

Practical Prepping for Financial SHTF Scenarios By Stefan Gleason Preppers – the sort of people who build bunkers, stockpile supplies, and bear arms – aim to survive “SHTF” scenarios. When war breaks out, when the power grid goes down, when the banks fail, when the U.S. dollar collapses, when social unrest spreads, when the stuff hits the fan… will you be prepared? Risks are rising. The Bulletin of the Atomic Scientists maintains a “Doomsday Clock.” For 2019, it “sets the Doomsday Clock at two minutes to midnight—the closest it has…

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Coincidence? Venezuela Green Lights Russia to Mine Gold, Days Later US Attempts Overthrow

Coincidence? Venezuela Green Lights Russia to Mine Gold, Days Later US Attempts Overthrow By Matt Agorist The decades-long US infatuation with Venezuela came to a head on Wednesday as the United States, Canada, Brazil, and others all declared a man who never even ran for the office of presidency, much less got elected to the office, as the president of Venezuela. On Wednesday, Juan Gerardo Guaidó Márquez took a public oath of office and swore himself in as the President of Venezuela. He assumed this office with zero democratic process—essentially…

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2019 Money Metals Outlook

2019 Money Metals Outlook By Stefan Gleason Precious metals markets enter 2019 with an opportunity to shine. Several major bullish drivers are lining up to start the New Year – including technical, fundamental, monetary, and political drivers. Before delving into each of them, let’s consider where we’ve been over the past 12 months. To be frank, 2018 wasn’t a particularly bright year for gold and silver prices. Gold will finish with a slight loss; silver with a larger loss just shy of 10%. It could have been worse. Sentiment toward…

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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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Money, Fake Money, & Sound Money

Money, Fake Money, & Sound Money By Jp Cortez Americans no longer carry gold and silver money in our pockets and purses as our grandparents did. But we still carry the history, legacy, and spirit of those gold and silver coins in our language. “Sound money” embodies a clear message recognized for centuries around the world. It describes the musical, metallic ring of a gold, silver, or copper coin dropped on any hard surface of glass, stone, wood, or metal. Sound money literally refers to real wealth, with a natural,…

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Russia Dumps Massive Amount of U.S. Treasury Holdings—Becomes World’s Largest Holder of Gold

Russia Dumps Massive Amount of U.S. Treasury Holdings—Becomes World’s Largest Holder of Gold By Jay Syrmopoulos Moscow, Russia – The Russian government has drastically reduced their holdings of United States Treasury bonds, with Russian ownership of U.S. bonds declining from $96.1 billion in March to $48.7 billion in April—and then further reducing their holdings to just $14.9 billion in May; an 11-year low. A gradual Russian sell-off of U.S. sovereign debt began in 2011 and has intensified over the years as Washington has continued to impose sanctions against Russia. To…

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