Profile cover photo
Profile photo
GATA — Gold Anti-Trust Action Committee
About
Communities and Collections
View all
Posts

Post has attachment
BMG's Brandon White: Confession by ex-Morgan trader vindicates GATA https://buff.ly/2zECPmN 9:41p Friday, November 9, 2018

Dear Friend of GATA and Gold:

Brandon White of bullion dealer BMG in Canada, commenting in his "This Week in 3 Minutes" video, remarks that this week's confession to gold and silver market rigging by a former trader for JPMorganChase --

https://buff.ly/2zECRuV

-- is vindication for GATA.

Even more so it may be vindication for silver market rigging exposer Ted Butler, but we'll take what we can get.

White's commentary is, as you might expect, three minutes long and can be viewed at YouTube here:

https://buff.ly/2zECS1X

CHRIS POWELL, Secretary/Treasurer

Gold Anti-Trust Action Committee Inc.

CPowell@GATA.org

ADVERTISEMENT

We Are Amid the Biggest Financial Bubble in History;

When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth

With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.

Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.

Crucial guides to storage in Singapore and Switzerland can be read here:

https://buff.ly/2Fwpb76

https://buff.ly/2FvxJuZ

GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.

Email the GoldCore team at info@goldcore.com or call our trading desk:

UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.

Visit us at: http://www.goldcore.com

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

https://buff.ly/2FoOtrG
Add a comment...

Post has attachment
With BIS intervention rising sharply in October, gold price stalled https://buff.ly/2QwmtUB By Robert Lambourne

Friday, November 9, 2018

After falling in August and September, intervention in the gold market by the Bank for International Settlements via gold swaps increased substantially in October, according to the bank's monthly statement of account, published this week:

https://buff.ly/2QuF0Ap

The bank's August and September statements are here:

https://buff.ly/2M3Bry8

https://buff.ly/2RW0Xtp

Perhaps not coincidentally, the gold price rose in August and September as the BIS reduced its intervention in the market and then stalled and leveled out in October as the bank greatly increased its intervention again.

... Dispatch continues below ...

ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

https://buff.ly/2FO4mXT

The monthly statements of the BIS give only summary information on the bank's use of gold swaps and other gold-related derivatives. The information in the statements is not sufficient to calculate a precise amount of gold-related derivatives, including swaps. But, after subtracting the gold reported owned by the BIS itself, the bank's total estimated gold exposure as of October 31 was around 372 tonnes -- 134 tonnes, or 56 percent, greater than the approximately 238 tonnes as of September 30.

As of August 31 the bank's total estimated gold exposure was around 370 tonnes and around 485 tonnes as of July 31.

When it comes to its activities in the gold market, the BIS provides little information on what it is doing, why, and for whom:

http://www.gata.org/node/17793

But the bank continues to trade actively in gold swaps to source gold to its member central banks and other financial entities, as evidenced by the increase in October.

-----

Robert Lambourne is a retired business executive in the United Kingdom who consults with GATA about the involvement of the Bank for International Settlements in the gold market.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

https://buff.ly/2FoOtrG
Add a comment...

Post has attachment
Deutsche, other bullion banks seeking insurance with physical gold, Maguire tells KWN https://buff.ly/2PmMfOw 12:07p ET Friday, November 9, 2018

Dear Friend of GATA and Gold:

London metals trader Andrew Maguire, interviewed today by King World News, says Deutsche Bank and other bullion banks are buying large amounts of physical gold in pursuit of insurance against the bursting of market bubbles that were inflated in part by shorting gold. Maguire's interview is excerpted at KWN here:

https://buff.ly/2PlzOm3...

CHRIS POWELL, Secretary/Treasurer

Gold Anti-Trust Action Committee Inc.

CPowell@GATA.org

ADVERTISEMENT

A Network of Bullion Dealers Who Bid for Your Business

With a SmartMetals® account from the Hard Assets Alliance, you're always guaranteed the lowest prices for gold, silver, platinum, and palladium. When you buy bullion through your account, the alliance's network of trusted precious metals dealers launches into action -- and you'll be shown the lowest price for your purchase. Also amazing is the low-cost storage available to you in six non-bank vaults around the world.

Click here to learn more:

https://buff.ly/2Ifp0i3

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

https://buff.ly/2IaipVf

To contribute to GATA, please visit:
Add a comment...

Post has attachment
Big investors sue 16 banks in U.S. over currency market rigging https://buff.ly/2QwkKOX By Jonathan Stempel

Reuters

Wednesday, November 7, 2018

NEW YORK -- A group of large institutional investors including BlackRock Inc. and Allianz SE's Pacific Investment Management Co. has sued 16 major banks, accusing them of rigging prices in the roughly $5.1 trillion-a-day foreign exchange market.

The lawsuit was filed on Wednesday in the U.S. District Court in Manhattan by plaintiffs that decided to "opt out" of similar nationwide litigation that has resulted in $2.31 billion of settlements with 15 of the banks.

... Dispatch continues below ...

ADVERTISEMENT

USAGold: Coins and bullion since 1973

USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business.

Please call 1-800-869-5115x100 and ask for the trading desk, or visit:

https://buff.ly/2FoOlII

USAGold: Great prices, quick delivery -- all the time.

Those settlements followed worldwide regulatory probes that have led to more than $10 billion of fines for several banks, and the convictions or indictments of some traders.

The banks being sued are: Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, Morgan Stanley, Japan's MUFG Bank, Royal Bank of Canada, Royal Bank of Scotland, Societe Generale, Standard Chartered, and UBS.

Investors typically opt out of litigation when they hope to recover more by suing on their own. ...

... For the remainder of the report:

https://buff.ly/2Qw4yNP...

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

https://buff.ly/2IaipVf

To contribute to GATA, please visit:
Add a comment...

Post has attachment
Bank of England stalls return of Venezuela's gold https://buff.ly/2SYTIBi This should clean out the rest of the Bank of England's custodial gold PDQ.

* * *

Maduro Scrambles to Bring Venezuela's Gold Back from the UK

By Stephen Gibbs

The Times, London

Wednesday, November 7, 2018

CARACAS -- President Maduro of Venezuela is trying to repatriate at least 14 tonnes of gold held at the Bank of England, fearing that access could be frozen under U.S. sanctions against his regime.

The bank has refused to release the gold bars, worth about L420 million, according to sources. British officials are understood to have insisted that standard measures to prevent money laundering be taken -- including clarification of the Venezuelan government's intentions for the gold.

There are concerns that Mr Maduro may seize the gold, which is owned by the state, and sell it for personal gain. ...

... For the remainder of the report:

https://buff.ly/2SXvEPs...

ADVERTISEMENT

Buy, Sell, or Store Precious Metals with Money Metals

Money Metals Exchange, a national bullion dealer recently voted "Best in the USA" by a worldwide ratings group --

https://buff.ly/2HrH47o...

-- is a great low-cost source for precious metals coins, rounds, and bars. Money Metals also pays handsomely when you wish to sell your precious metals.

Shop online with Money Metals Exchange here --

https://buff.ly/2FEs8m8

-- or by calling 1-800-800-1865.

Meanwhile, the Money Metals Depository --

https://buff.ly/2FDbuDe

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

https://buff.ly/2FoOtrG
Add a comment...

Post has attachment
Ted Butler: A crack in the dike https://buff.ly/2JOR90A 10:32a ET Thursday, November 8, 2018

Dear Friend of GATA and Gold:

Silver market analyst and anti-market-rigging whistleblower Ted Butler today declines to take much vindication from the Justice Department's extraction of a guilty plea to gold and silver market manipulation by a former trader for JPMorganChase. The "spoofing" admitted by the former Morgan trader and attributed by him to other traders and even supervisors at the bank is only part of the bank's manipulation of the monetary metals markets, Butler writes.

... Dispatch continues below ...

ADVERTISEMENT

Fisher Precious Metals is preparing and equipping

clients for the upcoming 'Everything Bubble'

Fisher Precious Metals, voted North America's bullion dealer of the year for 2018 and known for personal service and great pricing, has been helping Americans and Canadians protect their wealth with precious metals for more than a decade. Enjoying a five-star client rating across the internet with no complaints at the Better Business Bureau, the team at Fisher Precious Metals works hard to serve you.

We have helped thousands of clients in buying and selling bullion, arranging segregated and offshore storage, establishing precious metals IRAs, and obtaining certified precious metals appraisals. We provide security to our clients with our Bullion Authenticity Guarantee. We recommend that you read our article "How to Avoid Bullion Counterfeits":

https://buff.ly/2FGR6UX

As a family-owned business, we strive to help you assess your wealth-protection goals and overall investment objectives. From the new precious metals buyer to the seasoned bullion investor, we are here to help you with a no-pressure, confidential consultation. Rest assured that everyone in our firm owns physical precious metals and no one is compensated via commission -- period.

Fisher Precious Metals is your full-service precious metals investment partner for life. Please call us at 1-800-390-8576 or visit us here:

https://buff.ly/2FJA4FD

But Butler adds that the Justice Department's investigation of the manipulation gives him some hope that the issue is now out of the hands of the seemingly inept Commodity Futures Trading Commission.

Butler's commentary is headlined "A Crack in the Dike" and it's posted at GoldSeek's companion site, SilverSeek, here --

https://buff.ly/2JQrHrB

-- and at 24hGold here:

https://buff.ly/2JP2sWO...

CHRIS POWELL, Secretary/Treasurer

Gold Anti-Trust Action Committee Inc.

CPowell@GATA.org

* * *

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

https://buff.ly/2FoOtrG
Add a comment...

Post has attachment
Dumping the dollar, Iran and South Korea agree to cross-currency trade https://buff.ly/2zAlF9O From Russia Today, Moscow

Wednesday, November 7, 2018

South Korea and Iran have agreed to switch to national currencies in trade exchanges as the sides aim to strengthen relations despite the U.S. sanctions on Tehran.

The agreement is of great importance to both countries, Yonhap News Agency reported, explaining that the deal indicated Korea's concerns about relations with Iran.

... Dispatch continues below ...

ADVERTISEMENT

Storage and Withdrawal of Gold with Bullion Star in Singapore

Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop shop for precious metals in Singapore.

Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage rates are competitive.

For more information, please visit Bullion Star here:

https://buff.ly/2p3MUnO

The countries also agreed to make payments and settle their financial and banking accounts using the South Korean national currency, the won. That will allow South Korean and Iranian companies to continue their extensive exchanges in various fields.

The volume of bilateral trade surpassed the $12-billion benchmark last year, according to Iran's ambassador to Seoul Saeid Badamchi Shabestari, who told Press TV that the Iranian and Korean economies complement one another. ...

... For the remainder of the report:

https://buff.ly/2zDlA54

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

https://buff.ly/2IaipVf

To contribute to GATA, please visit:
Add a comment...

Post has attachment
Ex-Morgan trader pleads guilty to rigging monetary metals, implicates supervisors at bank https://buff.ly/2JJiHEL How did that "exhaustive" investigation of the silver market by the U.S. Commodities Futures Trading Commission miss this? How will the World Gold Council and most monetary metals mining companies continue to miss it? How many more anti-trust lawsuits will this prompt? Anybody seen Blythe Masters lately?

* * *

Former JP Morgan Trader Pleads Guilty to Manipulating U.S. Metals Markets for Years

By Hugh Son and Dan Mangan

CNBC, New York

Tuesday, November 5, 2018

An ex-J.P. Morgan Chase trader has admitted to manipulating the U.S. markets of an array of precious metals for about seven years -- and he has implicated his supervisors at the bank.

John Edmonds, 36, pleaded guilty to one count of commodities fraud and one count each of conspiracy to commit wire fraud, price manipulation, and spoofing, according to a release today from the U.S. Department of Justice:

https://buff.ly/2SO59fn...

Edmonds spent 13 years at New York-based J.P. Morgan until leaving last year, according to his LinkedIn account.

...Dispatch continues below ...

ADVERTISEMENT

Goldco Is America's No. 1 Gold IRA Provider

Goldco Precious Metals was founded by Trevor Gerszt in 2006 with a mission to help Americans protect their retirement accounts from market volatility and inflation by adding precious metals like gold and silver.

Experts predict that we are headed toward another economic crash like the one in 2008. If you aren't prepared, your retirement savings could vanish. At Goldco we take the time to understand our customers' investment goals and objectives and give them the resources to feel confident that their money will be there for them when they need it.

To learn more about adding gold and silver precious metals to your retirement accounts, please visit Goldco here:

https://buff.ly/2qcA61n

As part of his plea, Edmonds said that from 2009 through 2015 he conspired with other J.P. Morgan traders to manipulate the prices of gold, silver, platinum, and palladium futures contracts on exchanges run by the CME Group. He and others routinely placed orders that were quickly canceled before the trades were executed, a price-distorting practice known as spoofing.

"For years John Edmonds engaged in a sophisticated scheme to manipulate the market for precious metals futures contracts for his own gain by placing orders that were never intended to be executed," Assistant Attorney General Brian Benczkowski said in the release.

Of note for J.P. Morgan, the world's biggest investment bank by revenue: Edmonds, a relatively junior employee with the title of vice president, said that he learned this practice from more senior traders and that his supervisors at the firm knew of his actions.

Edmonds pleaded guilty under a charging document known as an "information." Prosecutors routinely use them to charge defendants who have agreed to cooperate with an ongoing investigation of other people or entities. ...

... For the remainder of the report:

https://buff.ly/2SRk7kz...

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

https://buff.ly/2IaipVf

To contribute to GATA, please visit:

https://buff.ly/2IaipVfnode/16
Add a comment...

Post has attachment
Craig Hemke at Sprott Money: Into year-end with gold and silver https://buff.ly/2PLo8bz 5:58p ET Tuesday, November 6, 2018

Dear Friend of GATA and Gold:

Writing today at Sprott Money, the TF Metals Report's Craig Hemke analyzes why gold and silver have failed to fulfill expectations this year but adds why he thinks they could recover by the end of the year. Hemke's analysis is headlined "Into Year-End with Gold and Silver" and it's posted at Sprott Money here:

https://buff.ly/2PLotuR...

CHRIS POWELL, Secretary/Treasurer

Gold Anti-Trust Action Committee Inc.

CPowell@GATA.org

ADVERTISEMENT

Storage and Withdrawal of Gold with Bullion Star in Singapore

Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop shop for precious metals in Singapore.

Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage rates are competitive.

For more information, please visit Bullion Star here:

https://buff.ly/2p3MUnO

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

https://buff.ly/2IaipVf

To contribute to GATA, please visit:
Add a comment...

Post has attachment
Ex-Morgan trader pleads guilty to rigging monetary metals, implicates supervisors at bank https://buff.ly/2SO58bj How did that "exhaustive" investigation of the silver market by the U.S. Commodities Futures Trading Commission miss this? How will the World Gold Council and most monetary metals mining companies continue to miss it? How many more anti-trust lawsuits will this prompt? Anybody seen Blythe Masters lately?

* * *

Former JP Morgan Trader Pleads Guilty to Manipulating U.S. Metals Markets for Years

By Hugh Son and Dan Mangan

CNBC, New York

Tuesday, November 5, 2018

An ex-J.P. Morgan Chase trader has admitted to manipulating the U.S. markets of an array of precious metals for about seven years -- and he has implicated his supervisors at the bank.

John Edmonds, 36, pleaded guilty to one count of commodities fraud and one count each of conspiracy to commit wire fraud, price manipulation, and spoofing, according to a release today from the U.S. Department of Justice:

https://buff.ly/2SO59fn...

Edmonds spent 13 years at New York-based J.P. Morgan until leaving last year, according to his LinkedIn account.

...Dispatch continues below ...

ADVERTISEMENT

Goldco Is America's No. 1 Gold IRA Provider

Goldco Precious Metals was founded by Trevor Gerszt in 2006 with a mission to help Americans protect their retirement accounts from market volatility and inflation by adding precious metals like gold and silver.

Experts predict that we are headed toward another economic crash like the one in 2008. If you aren't prepared, your retirement savings could vanish. At Goldco we take the time to understand our customers' investment goals and objectives and give them the resources to feel confident that their money will be there for them when they need it.

To learn more about adding gold and silver precious metals to your retirement accounts, please visit Goldco here:

https://buff.ly/2qcA61n

As part of his plea, Edmonds said that from 2009 through 2015 he conspired with other J.P. Morgan traders to manipulate the prices of gold, silver, platinum, and palladium futures contracts on exchanges run by the CME Group. He and others routinely placed orders that were quickly canceled before the trades were executed, a price-distorting practice known as spoofing.

"For years John Edmonds engaged in a sophisticated scheme to manipulate the market for precious metals futures contracts for his own gain by placing orders that were never intended to be executed," Assistant Attorney General Brian Benczkowski said in the release.

Of note for J.P. Morgan, the world's biggest investment bank by revenue: Edmonds, a relatively junior employee with the title of vice president, said that he learned this practice from more senior traders and that his supervisors at the firm knew of his actions.

Edmonds pleaded guilty under a charging document known as an "information." Prosecutors routinely use them to charge defendants who have agreed to cooperate with an ongoing investigation of other people or entities. ...

... For the remainder of the report:

https://buff.ly/2SRk7kz...

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

https://buff.ly/2IaipVf

To contribute to GATA, please visit:

https://buff.ly/2IaipVfnode/16
Add a comment...
Wait while more posts are being loaded