- The Atlantis Report
JP Morgan Fined $1 Billion for Gold, Silver, and Treasury Markets Rigging. JP Morgan Chase was just fined $1 Billion by US regulators for rigging the precious metals and treasury markets. JPMorgan to pay a record $920 million to resolve U.S. investigations into trading practices over its role in the manipulation of global markets for metals and Treasurys. This is the largest fine ever for spoofing in the metals markets. Scotiabank , who was also recently fined $127 million, together with JP Morgan used spoofing to lower precious metals prices and take the gold right off of the market. The bank quietly settled a long-running lawsuit that accused the bank of manipulating precious metals markets with spoofing trades. One billion fine is nothing. JP morgan has trillions. A billion dollars is like a chump change to them. A drop in the bucket. That’s just a small tax on their criminal activities. A drop in the bucket compared to the money they have literally stolen from others. They need to be fined the entire sum they have made in profits doing this over the past 20-40 years. Governments and judicial systems need to punish them severely (not just serious fines but jail as well). And what about retail investors who have lost and or suffered stress as a result of JP Morgan’s actions?