Josh Sigurdson talks with Tim Picciott, The Liberty Advisor about the latest news on JP Morgan as the mega bank is fined one billion dollars for rigging gold, silver and treasury manipulation.
It's commonplace to see major banks spoofing prices of gold and silver alongside pretty much every other major market. As we reported earlier this week, Deutsche Bank has been paying off settlements for their gold and silver manipulation for years. JP Morgan traders have gone to jail over this alongside traders at many major banks. This fine however breaks records.
Of course, JP Morgan's Jamie Dimon will simply pay off the fine with bailout money from tax payers most likely. Also, the fine barely scratches the surface of what they actually made in value by spoofing markets.