JPM paid one billion for manipulation of precious metals.

2021-07-13

JPM paid
ONE BILLION for manipulation of precious metals.Basel III would hold Banks to account for the now legal selling of 1oz of gold 20x if it is labeled unallocated, 70% of gold market. (paper gold).Britain just announced banks in London will not be held to the Basel III agreement on gold. Guess the bankers told them it would be worse than Lehman for them. JPM really needs to get out of the gold manipulation business ASAP.

Some big Hedge Funds could simply ask for gold in their account to be held in as allocated.This is a too big to fail situation. This is also a commodities problem that can't simply be papered over. Hedge Funds will want blood money to keep from crashing this problem.

$JPMorgan Chase(JPM)$

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