Tag: currency manipulation

Bullion Banks’ Manipulation Schemes Put Taxpayers at Risk

Bullion Banks’ Manipulation Schemes Put Taxpayers at Risk

Gold and silver bugs are well aware that JPMorgan Chase dominates precious metals futures trading. Russ and Pam Martens of the financial blog Wall Street on Parade just identified how much control they have. There are more than 5,300 FDIC insured banks in the U.S. Just two of them, JPMorgan and Citibank, hold 75.7% of all precious metals derivative contracts (primarily futures) in possession of the nation’s banks. Other major Wall Street banks, including Goldman Sachs and Bank of America, are barely even in the game. The market dominance implied by the outsized positions of these two banks is troubling enough. Metals investors have been pleading with regulators to step […]

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